Morgan Stanley forecasts that Genting Singapore’s Q1 EBITDA will reach approximately US$201 million

Morgan Stanley‘s projection indicates a quarter-on-quarter improvement of approximately 4% for Genting Singapore’s Q1 EBITDA. Furthermore, this estimate surpasses the market consensus of SGD 252 million.

As per Morgan Stanley’s forecast, Genting Singapore is anticipated to generate SGD 268 million (equivalent to US$ 201 million) in Earnings Before Interest, Taxes, and Depreciation (EBITDA) for the first quarter. This estimate surpasses the market consensus of SGD 252 million and reflects a quarter-on-quarter improvement of approximately 4%, when adjusted for hold.

Genting Singapore’s projected first-quarter EBITDA of SGD 268 million would represent 83% of the EBITDA generated in the same period in 2019. Additionally, analysts at Nomura have forecasted a 39% year-on-year increase in Genting Singapore’s VIP rolling chip volume for 2023. Furthermore, they anticipate a 10% rise in the property’s mass table drop and a 10% increase in its slot handle compared to 2022.

On April 20th, Marina Bay Sands, Singapore’s other prominent casino venue, announced a significant increase in adjusted property EBITDA from US$121 million to US$394 million year-on-year for the first quarter of the year. Las Vegas Sands, the parent company of Marina Bay Sands, reported that MBS contributed US$848 million out of the total revenue of US$2.12 billion recorded during the same period, marking a remarkable 112% annual rise in revenue.