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Genting Singapore Ltd G13

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Stock XSES Rating as of
SGD 0.89 +0.01 (0.57%)
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As of Delayed Price Closed
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Company Report

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Genting Singapore's Growth Story Is Intact, but Rising Cost a Risk

Jennifer Song

Genting Singapore operates one of only two casinos in Singapore, with about 40% market share. 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 25%-30% 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 9% discount.
Price
SGD 0.89
Fair Value
SGD 4.49
Uncertainty
Medium
1-Star Price
SGD 4.64
5-Star Price
SGD 3.38
Economic Moat
Mtpbqg
Capital Allocation
Xvqyk

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

A rise in COVID-19 case counts in Singapore and the ASEAN region could lead to volatility of tourism demand and delays in the gaming sector's recovery.

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Trading Information

Previous Close Price
SGD 0.89
Day Range
SGD 0.89–0.90
52-Week Range
SGD 0.82–1.14
Bid/Ask
SGD 0.89 / SGD 0.89
Market Cap
SGD 10.74 Bil
Volume/Avg
22.7 Mil / 34.0 Mil

Key Statistics

Price/Earnings (Normalized)
16.91
Price/Sales
4.44
Dividend Yield (Trailing)
3.93%
Dividend Yield (Forward)
3.93%
Total Yield
3.93%

Company Profile

Genting Singapore is engaged in the development and operation of integrated resort destinations, including gaming, hospitality, meetings, and leisure and entertainment facilities. It owns Resorts World Sentosa in Singapore, one of the leading integrated resort destinations in Asia, which offers a casino, Adventure Cove Waterpark, S.E.A. Aquarium, Universal Studios Singapore theme park, facilities for meetings, incentives, conventions, and exhibitions, hotels, Michelin-starred restaurants, and specialty retail outlets.
Sector
Consumer Cyclical
Industry
Resorts & Casinos
Stock Style Box
Large Growth
Total Number of Employees
12,500
Website
https://www.gentingsingapore.com

Competitors

Valuation

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Metric
G13
SGR
02282
Price/Earnings (Normalized)
 16.913.2220.84
Price/Book Value
 1.310.49—
Price/Sales
 4.440.462.30
Price/Cash Flow
 9.20—12.11
Price/Earnings
G13
SGR
02282

Financial Strength

Metric
G13
SGR
02282
Quick Ratio
 5.120.660.48
Current Ratio
 5.210.850.50
Interest Coverage
 6,321.30−11.362.51
Quick Ratio
G13
SGR
02282

Profitability

Metric
G13
SGR
02282
Return on Assets (Normalized)
 8.19%−5.90%9.17%
Return on Equity (Normalized)
 9.06%−10.16%—
Return on Invested Capital (Normalized)
 7.71%−4.53%17.23%
Return on Assets
G13
SGR
02282
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Resorts & Casinos Industry Comparables

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Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
LVS
Las Vegas Sands CorpGvltzflwgYdgclv$34.9 Bil
GXYYY
Galaxy Entertainment Group Ltd ADR—Nvnlqgf$21.0 Bil
GXYEF
Galaxy Entertainment Group Ltd—Wtyjv$21.0 Bil
SCHYF
Sands China Ltd Shs Unitary 144A/Reg S—Rfsyrs$21.0 Bil
SCHYY
Sands China Ltd ADR—Jkfksr$21.0 Bil
MGM
MGM Resorts InternationalNgxntxdzxNnvj$12.9 Bil
WYNN
Wynn Resorts LtdZjrdzmgckJjqtpd$10.8 Bil
CZR
Caesars Entertainment IncPjhsjhwrQgzv$7.6 Bil
MLCO
Melco Resorts and Entertainment Ltd ADRFgfqrkzGnbttq$3.2 Bil
PENN
PENN Entertainment IncZvvvkkfhwPbps$2.3 Bil

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