Genting Singapore Poised to Benefit From More Tourism, New Attractions

Dow Jones
2024-11-14

Genting Singapore is expected to have a stronger 2025 despite weak 3Q results, the OCBC Investment Research team writes in a note. The integrated-resort operator's new attractions, including Minion Land, are set to open in 1Q, OCBC says. A visa-free arrangement between Singapore and China could also drive more tourists to Resorts World Sentosa, it adds. However, OCBC cuts its 2024-2025 forecasts for adjusted Ebitda by 13%-14% and net profit by 17%-19% after the weaker-than-expected results. It also trims its fair-value estimate on the stock to S$1.03 from S$1.17. Shares are last 1.3% lower at S$0.77. (amanda.lee@wsj.com)

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