Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — CLSA Flagship Investors' Forum 2023
30 slides from Genting Malaysia Bhd's conference presentation, September 2023
Slide 1: CLSA Flagship Investors' Forum 2023
Copyright © 2023 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. CLSA Flagship Investors' Forum 2023 September 2023 1
Slide 2: Agenda
GROUP OVERVIEW FINANCIAL HIGHLIGHTS AGENDA MALAYSIAN OPERATIONS OVERSEAS OPERATIONS • UK & EGYPT • US & BAHAMAS OTHER CORPORATE DEVELOPMENTS LOOKING AHEAD 2
Slide 3: Group Overview
GROUP OVERVIEW 3
Slide 4: GENM Key Properties
GENM KEY PROPERTIES Resorts World Genting, Resorts World Birmingham, Malaysia UK Resorts World New York City, Resorts Resorts World World Catskills, Resorts World Bimini, US US Catskills, US Bahamas 4
Slide 5: GENM Group Overview
GENM GROUP OVERVIEW Overview • GENM is a globally diversified casino and resort operator with a market capitalisation1 of RM15.2bn • Genting Group (“GENT”) has 49.3% ownership in GENM, and is the immediate and ultimate holding company of GENM • Sole licensed casino operator in Malaysia, operating a
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS 6
Slide 7: Financial Highlights 2Q23 & 1H23
FINANCIAL HIGHLIGHTS GENM 2Q23 & 1H23 % % In RM’mil 2Q23 2Q22 1H23 1H22 Change Change Revenue 2,475 2,176 ↑14% 4,758 3,897 ↑22% % of 2019 95% 84% 89% 73% Adjusted EBITDA 448 620 ↓28% 1,041 1,034 ↑1% % of 2019 63% 87% 75% 74% Adjusted EBITDA Margin 18% 28% 22% 27% Resorts World Genting Net Profit/(Lo
Slide 8: Financial Highlights: Revenue Trend
FINANCIAL HIGHLIGHTS GENM REVENUE TREND GENM is Well Diversified Geographically Revenue (RM’m) Malaysia UK & Egypt US & Bahamas 10,407 9,928 1,538 1,457 (+6%) 8,603 1,687 (-6%) 1,749 1,792 (+25%) 1,506 (+41%) 4,529 665 4,157 7,182 (-57%) 1,396 6,679 Resorts World Genting (+8%) 653 (+>100%) (-61%) 5,
Slide 9: GENM Capital Management Strategy
GENM CAPITAL MANAGEMENT STRATEGY 24 Dividend per Share 20.00 20 9.00 Net dividend per share (sen) 16 14.50 8.00 15.00 9.00 12 8.50 9.00 8 11.00 6.00 4 6.00 - FY19 FY20 FY21 FY22 1H23 Dividend ▪ Committed to delivering value and sustainable return to shareholders ▪ FY22 dividend yield: 5.6%# Share Bu
Slide 10: GENM Sustainability Initiatives
GENM SUSTAINABILITY INITIATIVES SUSTAINABILITY IS AT THE FOREFRONT OF GENM’S OPERATIONS FTSE4GOOD INDEX SERIES ▪ A constituent of the FTSE4Good Index Series since June 2018 ASEAN Corporate Governance Asiamoney 2022 Asia’s Safer Gambling Standard Scorecard Award Outstanding Companies Poll Britain Mos
Slide 11: Malaysian Operations
MALAYSIAN OPERATIONS 11
Slide 12: Malaysia Leisure & Hospitality Performance Review in 2Q23 & 1H23
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q23 & 1H23 % % In RM’mil 2Q23 2Q22 Change 1H23 1H22 Change Revenue 1,533 1,310 ↑17% 2,936 2,230 ↑32% % of 2019 87% 75% 80% 61% Adjusted EBITDA 532 459 ↑16% 969 722 ↑34% % of 2019 99% 85% 88% 66% Adjusted EBITDA Margin 35% 35% 33% 32% ▪ Malaysia L
Slide 13: RWG Key Statistics – 1H23
LEISURE & HOSPITALITY MALAYSIA RWG KEY STATISTICS – 1H23 One of Asia’s leading integrated resort destinations with ~10,500 rooms 5.8m 11.8m 71% MEMBERS VISITORS DAY-TRIPPERS (1H22: 5.3m) (1H22: 9.9m) (1H22: 82%) 1.7m 96% RM223 ROOM NIGHTS OCCUPANCY AVG ROOM RATE (1H22: 0.9m) SOLD (1H22: 93%) (1H22:
Slide 14: Genting SkyWorlds
MALAYSIA MALAYSIA GENTING SKYWORLDS RWG KEY HIGHLIGHTS ▪ 26-acre theme park 68% ▪ State-of-the-artROOM virtual NIGHTS queueing system via OCCUPANCY AVG ROOM RATE Genting SkyWorlds appSOLD ▪ 17 rides available, offering guests a comprehensive and good theme park experience 14
Slide 15: Genting SkyWorlds Mobile App
MALAYSIA GENTING SKYWORLDS Genting SkyWorlds Mobile App ..… Exclusive world-class attractions promising endless entertainment 15
Slide 16: UK, US, Bahamas and Egypt properties
UK US Bahamas Egypt Note: 1 GENM owns 49% indirect stake in RW Catskills 16
Slide 17: Overseas Operations: UK & Egypt
OVERSEAS OPERATIONS UK & EGYPT 17
Slide 18: UK & Egypt Leisure & Hospitality Performance Review in 2Q23 & 1H23
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 2Q23 & 1H23 % % In £’mil 2Q23 2Q22 Change 1H23 1H22 Change Revenue 69.0 69.5 ↓1% 135.1 139.7 ↓3% % of 2019 88% 88% 86% 89% Adjusted EBITDA 10.5 14.8 ↓29% 18.6 29.9 ↓38% % of 2019 >100% >100% >100% >100% Adjusted EBITDA Margin 15% 21% 14% 21% ▪ U
Slide 19: Overseas Operations: US & Bahamas
OVERSEAS OPERATIONS US & BAHAMAS 19
Slide 20: US & Bahamas Leisure & Hospitality Performance Review
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 2Q23 vs 1H23 In US$’mil 2Q23 2Q22 % Change 1H23 1H22 % Change Revenue RWNYC and RW Omni 92.2 88.7 ↑4% 188.5 170.2 ↑11% RW Bimini 12.9 7.3 ↑77% 21.6 11.3 ↑91% Total 105.1 96.0 ↑9% 210.1 181.5 ↑16% % of 2019 >100% >100% >100% 100% Adjusted EBITD
Slide 21: Resorts World New York City
US RESORTS WORLD NEW YORK CITY ▪ New York City’s only casino resort ▪ Leading video gaming machine (“VGM”) facility in New York State with approx. 40%* market share ▪ Over 6,000 VGMs ▪ 400-room Hyatt Regency JFK Airport at Resorts World New York hotel ▪ Premium guestrooms, state-of-the-art conferenc
Slide 22: Empire Resorts, Inc.
US EMPIRE RESORTS, INC. ▪ 49%-owned via an associate company ▪ Owns and operates RW Catskills, 1 of only 4 commercial gaming-licensed casinos in the New York State ▪ RW Catskills features 150 live table games, ~1,600 VGMs and over 400 rooms across 2 premium hotels ▪ RW Hudson Valley, New York State’
Slide 23: Empire Resorts, Inc. Performance Review in 2Q23 & 1H23
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW IN 2Q23 & 1H23 % % In US$’mil 2Q23 2Q22 Change 1H23 1H22 Change Revenue 69.8 66.3 ↑5% 132.7 121.8 ↑9% % of 2019 >100% >100% >100% >100% Adjusted EBITDA 5.5 9.4 ↓41% 6.4 12.7 ↓50% % of 2019 N/A N/A N/A N/A Adjusted EBITDA Margin 8% 14% 5% 10% ▪ Revenue impro
Slide 24: Other Corporate Developments
OTHER CORPORATE DEVELOPMENTS 24
Slide 25: Other Corporate Developments: Sale of Miami Land
US OTHER CORPORATE DEVELOPMENTS SALE OF MIAMI LAND ▪ On 26 April 2023, GENM entered into a conditional sale and purchase agreement (“SPA”) for the proposed disposal of four parcels of land in Miami, measuring approx. 673,691 sq. ft. ▪ Disposal consideration: USD1.225 billion ▪ The Purchaser subseque
Slide 26: Looking Ahead
LOOKING AHEAD 26
Slide 27: Looking Ahead: Prospects and Focus – Resorts World Genting
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS Resorts World Genting ▪ Driving visitation, operational efficiencies and effective cost management at RWG ▪ Leverage RWG’s integrated resort offerings to capitalize on the increasing inbound tourist arrivals to Malaysia ▪ Optimise yields through dat
Slide 28: Looking Ahead: Prospects and Focus – UK & Egypt
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS UK & Egypt ▪ Challenges implicit in the current operating environment remain ▪ Continue to explore opportunities to strengthen the Group’s capabilities and enhance competitiveness to improve business resilience ▪ Place emphasis on proactive cost man
Slide 29: Looking Ahead: Prospects and Focus – US & Bahamas
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS US & Bahamas ▪ Focus on exploring key opportunities to reinforce the Group’s position as the leading gaming operator in New York State ▪ Maximise synergies between RWNYC and Empire to improve the Group’s competitiveness and overall returns of its US
Slide 30: Disclaimer
Disclaimer Some of the statements made in this presentation which are not statements of historical facts are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections of the directors and management of the Genting Malaysia Group
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