- Net income of Genting Singapore for 1Q was S$247.4 million, a huge increase of 92% y/y and surpassed estimates of S$127.8 million.
- Adjusted Ebitda was S$369.5 million, also up by 93% y/y and exceeded estimates of S$252.5 million.
- Revenue was S$784.4 million, a 62% increase y/y and better than the estimated S$626 million.
- Singapore integrated resorts gaming revenue amounting to S$576.0 million, was up by 69% y/y, outdoing estimates of S$430.5 million.
- An ongoing tender for a new Waterfront development, which includes two hotels with an overall total of 700 rooms, is set to be awarded in the third quarter.
- The on-site work for this new development is planned to kick off in the fourth quarter of the year.
- Notable benefits have been recognized from increased visitorship and spending during the Chinese New Year season.
- The relaxation of visa regulations between China and Singapore, effective from February 2024, has also shown to be beneficial for the company.
- 14 buy ratings, 4 hold ratings, and zero sell ratings were recorded for the company’s stock.
- All comparisons are based on previously reported data from the company’s original disclosures.
Genting Singapore on Smartkarma
On Smartkarma, independent analyst Howard J Klein has published a bullish report on Genting Singapore titled “Genting Singapore: A Surprising Value Buy at $1.0l Sgd Driven by Post Covid Catalysts Ahead Die 2024.” Klein highlights the company’s low debt, strong revenue recovery outlook, and its position in a growing market. Despite these positive factors, Genting Singapore is undervalued due to investor skepticism over its current stock price. The report also mentions concerns about the parent company Genting Berhad Malaysia’s global holdings and asset allocation strategy.
Klein emphasizes that Genting Singapore‘s integrated resort property Sentosa presents a compelling investment opportunity, especially post-COVID due to its strong prospects. In contrast, concerns are raised about Genting Berhad’s US investments and the competitive pressures in mature gaming markets. Overall, the analyst coverage on Smartkarma provides valuable insights into Genting Singapore‘s potential upside and risks for investors to consider.
A look at Genting Singapore Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 5 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Genting Singapore Limited, a company known for developing resort properties and operating casinos globally, has received a promising long-term outlook based on Smartkarma Smart Scores. The company scored significantly high in growth and resilience factors, indicating a positive trajectory for its future development and adaptability to challenges. With a strong emphasis on expanding and diversifying its offerings, Genting Singapore seems poised to capitalize on emerging opportunities in the global hospitality and entertainment industry.
Although Genting Singapore scored moderately in value, dividend, and momentum factors, its stellar ratings in growth and resilience suggest a solid foundation for sustained success. The company’s strategic positioning in key markets alongside its reputation for operational strength bodes well for its ability to navigate market fluctuations and sustain long-term growth. Investors may find Genting Singapore an attractive prospect for potential returns based on its robust performance across critical factors.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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