Morningstar

Genting Singapore Ltd G13

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Stock XSES Rating as of
SGD 0.62 0.00 (0.00%)
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Genting Singapore's Strong Focus on Premium Lifestyle Offerings Underpins Its Competitiveness

Jennifer Song

Genting Singapore operates one of only two casinos in Singapore. The casino is part of Genting Singapore’s Resorts World Sentosa, a world-class integrated resort with a theme park, hotels, restaurants, and other nongaming facilities. RWS provides substantial nongaming revenue (around 30%-35% of total revenue) to Genting Singapore, having attracted more than 20 million visitors since opening in 2010. We believe RWS will continue to cement its position as a desirable destination for tourists and gamblers in Singapore, and this should ensure stable earnings growth for the firm. Singapore is Asia's second-largest gaming market and the world’s third-largest.

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Price vs Fair Value

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G13 is trading at a LOCK|$MMl^tB premium.
Price
SGD 0.62
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The Singapore government is unlikely to issue a new casino license, given concerns and political sensitivity over gambling-related social ills.

Bears

Genting Singapore has been losing market share to peer Marina Bay Sands; we believe the firm needs to make more efforts to strengthen its competitiveness and defend market share.

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Trading Information

Previous Close Price
SGD 0.62
Day Range
SGD 0.61–0.62
52-Week Range
SGD 0.58–0.81
Bid/Ask
SGD 0.61 / SGD 0.62
Shares Outstanding
12.06B
Market Cap
SGD 7.42B
Volume/Avg
6M / 28M

Key Statistics

Price/Earnings (Normalized)
22.64
Price/Sales
3.05
Dividend Yield (Trailing)
6.50%
Dividend Yield (Forward)
6.50%
Dividend Payment Schedule
May, Sep
Total Yield
6.50%

Company Profile

Genting Singapore is a leading integrated resort operator that operates Resorts World Sentosa, one of two integrated resorts in Singapore. Opened in 2010, RWS features a casino, Universal Studios Singapore theme park, the Singapore Oceanarium, Adventure Cove Waterpark, MICE (meetings, incentives, conventions, and exhibitions) facilities, luxury hotels, Michelin-starred restaurants, and specialty retail outlets. The firm is 52.5% owned by Genting Group, which has over 50 years of experience in the global leisure and gaming industry.
Sector
Consumer Cyclical
Industry
Resorts & Casinos
Stock Style Box
Mid Value
Total Number of Employees
12,500
Website
https://www.gentingsingapore.com

Competitors

Valuation

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Metric
G13
00880
MLCO
Price/Earnings (Normalized)
 22.64—6.90
Price/Book Value
 0.920.78179.41
Price/Sales
 3.050.670.33
Price/Cash Flow
 8.785.702.06
Price/Earnings
G13
00880
MLCO

Financial Strength

Metric
G13
00880
MLCO
Quick Ratio
 4.500.320.97
Current Ratio
 4.580.461.03
Interest Coverage
 3,262.950.691.38
Quick Ratio
G13
00880
MLCO

Profitability

Metric
G13
00880
MLCO
Return on Assets (Normalized)
 4.88%−1.16%3.26%
Return on Equity (Normalized)
 5.43%−4.41%—
Return on Invested Capital (Normalized)
 4.94%1.87%9.33%
Return on Assets
G13
00880
MLCO

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Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Las Vegas Sands Corp
LVS
LOCK|#$nY%d?LOCK|@!^f?$23B
 Galaxy Entertainment Group Ltd ADR
GXYYY
—LOCK|F@?y$17B
 Galaxy Entertainment Group Ltd
GXYEF
—LOCK|Fnf<X$17B
 Sands China Ltd Shs Unitary 144A/Reg S
SCHYF
—LOCK|#qDm$12B
 Sands China Ltd ADR
SCHYY
—LOCK|X!<z^$12B
 Wynn Resorts Ltd
WYNN
LOCK|%f#D&KKLOCK|#&m%$8B
 MGM Resorts International
MGM
LOCK|&BtfZ@LOCK|Y%l$8B
 Caesars Entertainment Inc
CZR
LOCK|S#!@<SrLOCK|Rg$6B
 PENN Entertainment Inc
PENN
LOCK|$yl?X@^LOCK|BG$2B
 Melco Resorts and Entertainment Ltd ADR
MLCO
LOCK|rg<$?xLOCK|#?<<$2B

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