• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Genting Singapore confirms 2015 final dividend

Apr 22, 2016 Newsdesk Latest News, Singapore, Top of the deck  


Genting Singapore confirms 2015 final dividend

Genting Singapore Plc, operator of the Resorts World Sentosa casino resort (pictured) in Singapore, confirmed on Thursday a final dividend of SGD0.015 (US$0.011) per ordinary share for the year ending December 31.

The exclusion date for the dividend is May 5, with payment due on May 19. The dividend confirmation followed Genting Singapore’s annual meeting.

Bank Morgan Stanley gave a preview on Thursday of Genting Singapore’s likely first quarter 2016 operating numbers.

“Genting Singapore could see stable mass [market gambling revenue] but miss VIP expectation in upcoming first quarter result, if it follows similar trend as Marina Bay Sands,” wrote the bank’s analysts Praveen Choudhary, Thomas Allen and Xin Jin Ling, referring to the rival Singapore casino resort developed and operated by Las Vegas Sands Corp.

According to the latter’s first quarter results filed in New York on Wednesday, Marina Bay Sands reported hold adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of nearly US$383 million, up 1 percent quarter-on-quarter and 10 percent year-on-year in Singapore dollar terms. Genting Singapore is listed in Singapore and reports its results in that city-state’s currency.

Marina Bay Sands’ first quarter mass-market gambling revenue was up 3 percent quarter-on-quarter, while VIP roll was down 5 percent sequentially.

Morgan Stanley noted that bad debt provisions for the first quarter at Marina Bays Sands had “remained elevated” at US$32 million, which the bank said was similar to the fourth quarter. The institution said Genting Singapore’s provisions for bad debt in the first quarter could be SGD52 million, which it said would be equivalent to 20 percent of its likely VIP revenue for the period.

Morgan Stanley said of Genting Singapore’s likely first quarter results: “We forecast revenue of SGD684 million (+25 percent quarter-on-quarter, +7 percent year-on-year) and EBITDA of SGD220 million (+26 percent quarter-on-quarter, -2 percent year-on-year), assuming normalised VIP hold rate of 2.85 percent versus fourth quarter win rate of 2.1 percent. However, we could see slight downside risk to our VIP volumes expectation.”


  • tweet
Related articles
  • Phase 2 Resorts World Sentosa only starts 2022: analyst
    Phase 2 Resorts World Sentosa only...

    Feb 24, 2021  

  • GEN Singapore expects China crackdown to hurt VIP biz
    GEN Singapore expects China crackdown...

    Feb 10, 2021  

More news
  • Casino surveillance biz decline leads Synectics to annual loss
    Casino surveillance biz decline leads...

    Mar 03, 2021  

  • Casino op Genting Malaysia pay cuts March-May: reports
    Casino op Genting Malaysia pay cuts...

    Mar 03, 2021  


Latest News

Casino surveillance biz decline leads Synectics to annual loss

Casino surveillance biz decline leads Synectics to annual loss

Mar 03, 2021  

Surveillance technology specialist Synectics Plc, an equipment supplier to the land-based casino industry in Asia-Pacific including in Macau and Singapore, reported a consolidated loss of nearly...
Read More
Casino op Genting Malaysia pay cuts March-May: reports

Casino op Genting Malaysia pay cuts March-May: reports

Mar 03, 2021  

IGT quarterly loss doubles sequentially 4Q as revenue dips

IGT quarterly loss doubles sequentially 4Q as revenue dips

Mar 03, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“As a leaner, stronger company, we expect leverage to return to pre-pandemic levels in the next 12-18 months”

Max Chiara

Chief financial officer at gaming product and lottery services provider International Game Technology



Most Popular

  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
  • Melco’s Lawrence Ho hopeful on Macau recovery in MarchMelco’s Lawrence Ho hopeful on Macau recovery in March February 26, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us