• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 11 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

RHB Group Research analysts express growing confidence in Resorts World Sentosa recovery

Newsdesk by Newsdesk
Mon 11 Apr 2022 at 05:34
Two to Tango
24
SHARES
591
VIEWS
Print Friendly, PDF & Email

RHB Group Research analysts have raised their target price for Genting Singapore, citing an improved outlook for the integrated resort operator due to border reopening and less likelihood of further COVID-19 lockdowns.

According to a research report published late last week, the target price has risen 5 cents, from SG$0.90 to SG$0.95, based on an EV/EBITDA multiple of 8.5x compared with the previous 7.9x.

“The higher multiple reflects Genting Singapore’s better and more certain prospects, as Singapore begins to treat COVID-19 [as] endemic, reducing the probability [of] future strict lockdowns,” the analysts said.

“We believe the pent-up demand for international travel will drive the return of tourists from Genting Singapore’s traditional markets in ASEAN and Northern Asia, which account for approximately 60% to 70% of its visitor numbers prior to the pandemic.”

RHB Group Research also expressed little concern over the company’s capex requirements, with Genting Singapore having recently announced it will begin upgrade works on three of its hotels at Resorts World Sentosa during 2Q22, part of a SG$400 million (US$287 million) investment it plans to inject into the property this year.

The upgrade works form part of the company’s broader RWS 2.0 expansion plans, having announced in 2019 that it will spend a total of SG$4.5 billion to add around 164,000 square meters of new leisure and entertainment space to its current offerings.

“We note that the majority of the costs will likely be backloaded in 2H24 ending December 2024 and FY2025,” the analysts said. “While plans for funding are not set in stone, Genting Singapore will likely tap on internal resources and cash balance of net cash SG$3.1 billion [as of 4Q21] for this.”

Genting Singapore shares closed at SG$0.81 on Friday.

RelatedPosts

Government report says online gambling poses far greater money laundering threat than Singapore’s land-based casinos

A deeper look at how Singapore introduced casino gaming: possible lessons for Thailand

Fri 11 Jul 2025 at 07:15
Marina Bay Sands optimizes manpower with deployment of 12 autonomous robots for back-of-house deliveries

Marina Bay Sands optimizes manpower with deployment of 12 autonomous robots for back-of-house deliveries

Wed 18 Jun 2025 at 14:40
Marine attraction Singapore Oceanarium to open at Resorts World Sentosa on 23 July

Marine attraction Singapore Oceanarium to open at Resorts World Sentosa on 23 July

Mon 26 May 2025 at 14:40
Singapore’s Changi Airport now Asia’s busiest airport as Hong Kong falls further behind

Singapore’s Changi Airport Group sees profit double in 2024 on all-time passenger movements record

Fri 23 May 2025 at 06:10
Load More
Tags: Genting SingaporeResorts World SentosaRHB GroupSingaporetarget price
Share10Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Government report says online gambling poses far greater money laundering threat than Singapore’s land-based casinos

A deeper look at how Singapore introduced casino gaming: possible lessons for Thailand

by Newsdesk
Fri 11 Jul 2025 at 07:15

Inside Asian Gaming is delighted to publish this paper by LAU Kok Keng, Head of Gambling Law Practice for Rajah & Tann Asia, on Singapore’s casino legalization experience. The paper, titled, Singapore’s Casino Legalization Experience: Setting the Standards for Minimizing and...

Philippines’ maiden PIGO platform generates GGR of US$2.3 million in first six months of operation

Alliance of Philippines fintech companies says members prepared to implement strict due diligence measures for online gaming

by Newsdesk
Fri 11 Jul 2025 at 06:34

Fintech Alliance Philippines, described as the Philippines’ largest organization of financial technology companies, said in a statement that its members have agreed to implement stricter due diligence measures in response to concerns over the rapid rise of the country’s domestic...

Shinawatra family rejects opposition claim that casino policy drove away Chinese tourists, doubles down on need for entertainment complexes

Shinawatra family rejects opposition claim that casino policy drove away Chinese tourists, doubles down on need for entertainment complexes

by Ben Blaschke
Fri 11 Jul 2025 at 06:20

Thailand’s suspended Prime Minister Paetongtarn Shinawatra and her father, former Prime Minister Thaksin, have rejected claims by its former coalition partner Bhumjaithai that a massive decline in Chinese tourism this year is linked to the government’s casino policy. Instead, the...

SunTrust becomes listed tourism business as Suncity releases first renderings of Manila hotel and casino project

LET Group turns full focus to Manila casino development but admits uncertainty over ability to fund project completion

by Ben Blaschke
Fri 11 Jul 2025 at 06:17

Hong Kong-listed LET Group says it is now “fully-focused” on its US$1.25 billion LET X hotel and casino development in Manila’s Westside City precinct, despite admitting lingering concerns that it may not have the funds to complete its construction. The...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English