Genting Singapore (GENS)

Tourism

RWS breaks ground on new waterfront lifestyle development

RWS' new waterfront lifestyle development breaks ground and is set to complete in 2030.

Company in the news

Genting Singapore shares fall to two-year low on earnings miss

Genting Singapore has lost about 20% this year, making it among the worst performers on the Straits Times Index, which is up 15%.

Results

Genting Singapore reports 3QFY2024 NPAT of $79.4 mil, 63% lower y-o-y

Total revenue fell by 19% y-o-y to $561.9 million.

Company in the news

Andrew MacDonald steps down as director and chief casino officer of Genting Singapore’s RWS

Shares in Genting Singapore closed 1 cent higher or 1.2% up at 84.5 cents on Nov 1.

Broker's Calls

UOBKH and Citi are upbeat on the gaming sector following record high earnings from tourism and concerts

UOBKH has a “buy” call on Genting Singapore, while Citi has a “buy” on Las Vegas Sands.

Company in the news

Genting pledges US$1 bil in taxes to win NYC casino license

Genting is pledging to continue paying New York City about 67% of its slot machine revenue in taxes.

Broker's Calls

Analysts from CGS, UOBKH and OCBC all keep 'buy' and 'add' for Genting Singapore, awaiting FY2024 growth

The group’s results missed most of the analysts’ and consensus estimates, but there's optimism about its growth trajectory.
Analysts mixed on Genting Singapore, after 4QFY2023's adjusted ebitda stood below expectations - THE EDGE SINGAPORE

Broker's Calls

Analysts mixed on Genting Singapore, after 4QFY2023's adjusted ebitda stood below expectations

Citi and Maybank have lowered their target price to $1.16, while DBS has raised its target price to $1.15.
Placing a bet on 'beyond pandemic' recovery with Genting Singapore - THE EDGE SINGAPORE

Stocks To Watch

Placing a bet on 'beyond pandemic' recovery with Genting Singapore

Investor sentiment is boosted after Genting’s net income surged 59% in 3QFY2023, and with the visa-free arrangement with China.
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