Analysts noted srong performances in Malaysia and Singapore.<\/p>\n\n\n\n\n\n\n\n
Malaysia.-\u00a0S&P Global Ratings<\/strong>\u00a0says Genting Group<\/strong> has recovered from the effects of the Covid-19 pandemic. It affirmed its issuer credit ratings on Genting Bhd, Genting Malaysia, Genting New York, and Resorts World Las Vegas with a stable outlook. <\/p>\n\n\n\n According to analysts,\u00a0Genting Bhd’s credit quality is likely to continue improving amid robust earnings and limited spending.\u00a0In 2023, the company’s operations exceeded pre-pandemic levels, with revenue and earnings before interest tax depreciation and amortisation (EBITDA) reaching 125 per cent and 112 per cent of 2019 levels, respectively, due to operational improvements in all its geographies, including\u00a0Malaysia<\/a>\u00a0and\u00a0Singapore<\/a>. As for the US, Resorts World Las Vegas, analysts said revenue contribution to the group\u00a0has\u00a0been around 15 per cent.<\/p>\n\n\n\n Genting Bhd’s capital expenditure (CAPEX) has remained limited since 2022, and S&P expects positive discretionary cash flows to continue through 2025. This should result in the company’s ratio of funds from operations (FFO) to debt improving to 38 per cent-40 per cent by 2025 from 30 per cent in 2023. However, any additional large investments to expand the geographical footprint could affect Genting Bhd.’s deleveraging, the rating agency said.<\/p>\n\n\n\n S&P believes that winning a full casino licence in New York would solidify the group’s competitive position in the New York gaming market. The group is expected to invest US$5bn if it wins the licence, expected sometime in 2025.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Analysts noted srong performances in Malaysia and Singapore.<\/p>\n","protected":false},"author":176,"featured_media":16790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"S&P Global Ratings affirmed Genting Group's issuer credit ratings with a stable outlook, citing robust post-pandemic recovery and strong earnings exceeding 2019 levels, particularly in Malaysia and Singapore. The group's credit quality is expected to improve through 2025 due to limited CAPEX and positive discretionary cash flows. However, a potential US$5bn investment for a New York casino license could impact deleveraging, despite solidifying its market position.","focusai_entities":"S&P Global Ratings, Genting Group, Genting Bhd, Genting Malaysia, Genting New York, Resorts World Las Vegas","focusai_location":"Malaysia, Singapore, US, New York, Las Vegas","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NY License Impact","query":"How would a US$5bn investment for a New York casino license specifically alter Genting Bhd's FFO to debt ratio trajectory beyond S&P's 2025 projections, and what are the potential mitigating factors?"},{"label":"Regional Performance Drivers","query":"What specific operational improvements and market dynamics in Malaysia and Singapore contributed to Genting Group's revenue and EBITDA exceeding 2019 levels by 125% and 112% respectively?"}],"footnotes":""},"categories":[157,16333],"tags":[24145],"class_list":["post-777015136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015136","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=777015136"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015136\/revisions"}],"predecessor-version":[{"id":777015149,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015136\/revisions\/777015149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16790"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}