Morgan Stanley predicts a 25 per cent rise sequentially.<\/p>\n\n\n\n\n\n\n\n
Singapore.-\u00a0Morgan Stanley Asia\u00a0<\/strong>has predicted\u00a0<\/strong>that Resorts World Sentosa (RWS)\u00a0<\/strong>will post earnings before interest, taxation, depreciation, and amortisation (EBITDA) of SG$300m (US$220.7m) for the first quarter. The figure would represent a sequential increase of 25 per cent and a year-on-year increase of 53 per cent. <\/p>\n\n\n\n The result would represent about 89 per cent of the pre-pandemic level seen in the first quarter of 2019 and is 9 per cent higher than the sell-side consensus provided by Visible Alpha.\u00a0Analysts Praveen Choudhary<\/strong> and Gareth Leung<\/strong> said Genting Singapore’s year-on-year growth in net revenue is expected to slow down to about 5 per cent in 2024, from 41 per cent in 2023. <\/p>\n\n\n\n While Genting Singapore’s gaming volumes recovered to or slightly above 2019 levels in the fourth quarter of 2023, gaming volume for 2024 could be limited by\u00a0400 fewer hotel rooms after Hard Rock’s closure<\/a>.\u00a0They said 2024 gaming growth could come from the mass segment and market share improvements.\u00a0<\/p>\n\n\n\n Factors that could contribute to the sequential gain in EBITDA for the first quarter include a low base in the fourth quarter of 2023, which was impacted by approximately SG$40m in one-off charges, improved Chinese visitor volume, and collection of some of the high provisions made in the fourth quarter of 2023 in relation to receivables.\u00a0<\/p>\n\n\n\n Analysts anticipated that Genting Singapore’s dividend per share for 2024 to increase 14 per cent year-on-year to a SG$0.04\/4.5 per cent yield, the 2019 level.<\/p>\n\n\n\n See also: <\/strong>Analysts have positive outlook for Genting Singapore in 2024<\/a><\/p>\n\n\n\n Genting Singapore\u00a0<\/strong>reported\u00a0an 80 per cent increase in net profit<\/a>\u00a0from\u00a0SG$340.1m (US$254.6m)<\/a>\u00a0to SG$611.6m (US$456m) for full year 2023. Revenue increased 40 per cent year-on-year to SG$2.4bn (US$1.8bn).\u00a0<\/p>\n\n\n\n Resorts World Sentosa (RWS) delivered adjusted earnings before interest, tax, depreciation and amortisation of SG$1.1bn (US$788m) representing around 86 per cent of pre-Covid-19 adjusted EBITDA. Gaming revenue was up 34.1 per cent year-on-year to SG$1.65bn (US$1.23bn).<\/p>\n","protected":false},"excerpt":{"rendered":" Morgan Stanley predicts a 25 per cent rise sequentially.<\/p>\n","protected":false},"author":176,"featured_media":15195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Morgan Stanley Asia forecasts Resorts World Sentosa's Q1 EBITDA at SG$300m, representing a 25% sequential and 53% year-on-year increase, nearing 89% of pre-pandemic levels. While Genting Singapore's 2024 net revenue growth is projected to slow due to reduced hotel capacity, analysts anticipate growth from the mass gaming segment and improved Chinese visitor volumes. The company's dividend per share is expected to increase by 14% year-on-year to SG$0.04.","focusai_entities":"Morgan Stanley Asia, Resorts World Sentosa, Genting Singapore, Visible Alpha, Praveen Choudhary, Gareth Leung, Hard Rock","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Mitigating Capacity Impact?","query":"Given the projected slowdown in net revenue growth for Genting Singapore in 2024, what specific strategic initiatives are being considered to mitigate the impact of reduced hotel room capacity and sustain market share gains?"},{"label":"Capex for Non-Gaming?","query":"How might the anticipated increase in mass segment gaming volume and Chinese visitor numbers influence RWS's capital expenditure plans for non-gaming amenities and future integrated resort expansion phases?"}],"footnotes":""},"categories":[157,16333],"tags":[23687,21162],"class_list":["post-777014828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-singapore","tag-resorts-world-sentosa"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777014828"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014828\/revisions"}],"predecessor-version":[{"id":777014856,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014828\/revisions\/777014856"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15195"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}