Singapore unit poised to boost Genting earnings in FY22

Genting Singapore’s earnings surged 2.5 times year-on-year to S$340.1mil in FY22, underpinned by borders reopening in the region. — Bloombergfor the financial year 2022 is expected to come in higher following the stronger than expected performance at its Singapore subsidiary.

“We are optimistic that the two-year lacklustre earnings streak at Genting Singapore had ended in the first half of FY22 with the reopening of international borders from April 2022, as well as from China’s reopening early this year.and this should eventually benefit parent-company Genting,” said Kenanga Research in a report.

HLIB Research said it has raised its FY23 and FY24 earnings by 23.7% and 14.6% respectively, after factoring in higher visitation assumptions and higher contribution from non-gaming revenue.

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