Tuesday, January 31, 2023 - Login

Genting Singapore recovery likely sluggish: Bernstein


The road to recovery for Genting Singapore is expected to be slow and a long way off, according to analysts from Bernstein Research on Tuesday.

“Both VIP and Mass (along with non-gaming) should see slow recovery and we do not expect to see Genting Singapore to get back to 2019 levels until 2022, it said. 

However, during a panel discussion held on Monday night, Vitaly Umansky of Bernstein Research noted that Singapore may be one of the markets to recover quicker due to its domestic gamblers. Markets that rely solely on foreign gamblers will take longer to recover, he said. 

Over the coming year, Marina Bay Sands is better positioned to maintain market share and will come in the form of significantly elevated bad debt. 

The brokerage has downgraded Genting Singapore to Market-Perform.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief