RHB Group Research analysts express growing confidence in Resorts World Sentosa recovery
Tuesday 12 de April 2022 / 07:08
⏱ 2 min read
(Singapore).- 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.”
Categoría:Events
Tags: Sin tags
País: Singapore
Event
GAT EXPO CARTAGENA 2026
24 de March 2026
Technology, AI and Traceability: Keys to the Future of Gaming at the GAT Expo Cartagena Suppliers Panel
(Cartagena de Indias, SoloAzar Exclusive).- Within GAT Expo Cartagena 2026, technology sector leaders analyzed the challenges and opportunities of the gaming industry during the panel “Innovation, Traceability and Control,” featuring Matt Sahakian, iGaming consultant; Pablo Bergesio, Co-Founder & CCO of Smart Code; Silviya Marinova, Director of EGT Colombia; and moderated by Víctor Arias, VP LATAM at Arrise Powering Pragmatic Play.
Tuesday 31 Mar 2026 / 12:00
Gamification with Purpose: Andrés Blanco Explains How to Drive Real Engagement at GAT Expo Cartagena
(Cartagena de Indias, SoloAzar Exclusive).- At GAT Expo Cartagena 2026, one of Latin America’s most important gaming industry events, Andrés Blanco, Managing Director and Chief Product Officer at Gamanza Engage, shared his vision of how gamification can become a strategic tool to foster genuine user engagement.
Monday 30 Mar 2026 / 12:00
Nevada’s Regulatory Model, Taxation Challenges and Prediction Markets Take Center Stage at GAT Expo Cartagena
(Cartagena de Indias, SoloAzar Exclusive).- During a high-level fireside chat at GAT Expo Cartagena 2026, Brian Krolicki, Vice Chairman of the Nevada Gaming Commission, and Rodrigo Afanador Carrasco, CEO of Zamba and General Manager of Grupo Vicca, explored key regulatory challenges shaping the global gaming industry, with a particular focus on Latin America.
Monday 30 Mar 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.