Home News Broker's Calls

Analysts mixed on Genting Singapore following underperformance versus rival Marina Bay Sands

Khairani Afifi Noordin
Khairani Afifi Noordin8/15/2022 03:59 PM GMT+08  • 4 min read
Analysts mixed on Genting Singapore following underperformance versus rival Marina Bay Sands
RHB analysts saw disappointing footfall at RWS’s premise and casino, versus the large crowds at MBS and its casino. Photo: Samuel Isaac Chua/The Edge Singapore
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Analysts from UOB Kay Hian, RHB Group Research, Maybank Securities and CGS-CIMB Research are mixed on Genting Singapore as its 2QFY2022 performance paled in comparison to Marina Bay Sands’ (MBS) performance for the same period.

RHB analysts, who have downgraded their “buy” call to “neutral” point out that Genting Singapore’s 1HFY2022 core profit made up 36% of its FY2022 estimates while revenue and adjusted EBITDA came in at 44% and 42% of its forecasts respectively.

“The q-o-q gross gaming revenue (GGR) growth of 2.7% was disappointing compared to MBS’s q-o-q GGR growth of 84%,” the analysts add.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.