Foreign visitor arrivals into Singapore continued to improve. However, limited air capacity from certain regional countries and elevated airfares affected leisure travel. The Group registered a revenue of $1.1 billion for the first half of 2023, a 63% improvement year-on-year from $663.1 million during the same period last year. Adjusted earnings before interest, tax, depreciation, and amortisation (“Adjusted EBITDA”) jumped 68% year-on-year to $452.5 million. At the property level, Resorts World Sentosa (“RWS”) delivered an Adjusted EBITDA of $268.4 million for the second quarter of 2023, a 37% improvement from the previous quarter. The better performance was a result of the rebound in non-gaming business, a higher-than-theoretical VIP win rate and recovery in regional gaming business. On a hold-normalised basis, gross gaming revenue (GGR) improved 3% quarter-on-quarter to $547.9 million, reaching near the levels of 2019. Non-gaming revenue improved 31% quarter-on-quarter to $188.7 million due to improved attractions’ attendance and spend per customer driven by intensified marketing and promotional efforts.
Q2 earnings are approximately 80% of the pre-pandemic earning level...that is good for GenB. For Q3, it should reach around 85% to 90% of the pre-pandemic level, and for Q4, .. expect to achieve 90% to 95% of the pre-pandemic level.
many big caps stocks have already go back to pre-pandemic levels, except for a few like Genting, GenM those who missed out on pandemic discount prices, Genting, GenM are your last chance
Genting Singapore's 1H earnings triple to S$276.7m.
SINGAPORE (Aug 10): Thanks to a recovery in the hospitality industry, Genting Singapore reported earnings of S$276.7 million (RM940.17 million) for the first half ended June 30, 2023 (1HFY2023), up 227.6% year-on-year, on the back of a 63% jump in revenue to S$1.08 billion.
Gaming revenue accounted for three-quarters of the total, or S$747 million, versus S$475.2 million for 1HFY2022. Non-gaming revenue came in at S$327 million, up from S$176.8 million.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
choysun
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Posted by choysun > 2023-08-09 15:24 | Report Abuse
Will it close day high again today? Hmm