Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Nomura ASEAN Conference 2023
33 slides from Genting Malaysia Bhd's conference presentation, Mar 7, 2023
Slide 1: Nomura ASEAN Conference 2023
Copyright © 2022 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. Nomura ASEAN Conference 2023 7 March 2023 1
Slide 2: Agenda
GROUP OVERVIEW GROUP HIGHLIGHTS AGENDA MALAYSIAN OPERATIONS OVERSEAS OPERATIONS • UK & EGYPT • US & BAHAMAS LOOKING AHEAD 2
Slide 3: Group Overview
GROUP OVERVIEW 3
Slide 4: GENM Group Overview Key Properties
GROUP OVERVIEW GENM KEY PROPERTIES Resorts World Genting, Malaysia Resorts World New Resorts World Resorts World Resorts World York City, US Catskills, US Birmingham, UK Bimini, Bahamas 4
Slide 5: GENM Introduction
GROUP OVERVIEW GENM INTRODUCTION Overview • GENM is a globally diversified casino and resort operator with a market capitalisation1 of RM15.2bn • Genting Group (“GENT”) has 49.4% ownership in GENM, and is the immediate and ultimate holding company of GENM • Sole licensed casino operator in Malaysia,
Slide 6: Group Highlights
GROUP HIGHLIGHTS 6
Slide 7: Financial Highlights 4Q22 & FY22
FINANCIAL HIGHLIGHTS GENM 4Q22 & FY22 % % In RM’mil 4Q22 4Q21 FY22 FY21 Change Change Revenue 2,435 1,889 ↑29% 8,603 4,157 ↑>100% % of 2019 100% 77% 83% 40% Adjusted EBITDA/(LBITDA) 473 738 ↓36% 2,117 727 ↑>100% % of 2019 86% >100% 80% 28% Adjusted EBITDA Margin 19% 39% 25% 17% Resorts World Genting
Slide 8: Financial Highlights 4Q22 vs 3Q22
FINANCIAL HIGHLIGHTS GENM 4Q22 vs 3Q22 In RM’mil 4Q22 3Q22 % Change Revenue 2,435 2,271 ↑7% % of 2019 100% 86% Adjusted EBITDA 473 610 ↓22% % of 2019 86% 88% Adjusted EBITDA Margin 19% 27% Resorts World Genting Net (Loss)/Profit (469) (8) ↓>100% ▪ Group’s financial performance in 4Q22 mainly impacte
Slide 9: Financial Highlights Revenue Trend
FINANCIAL HIGHLIGHTS GENM REVENUE TREND GENM is Well Diversified Geographically Revenue (RM’m) 10,407 9,928 1,538 1,457 (+6%) 8,603 1,687 (-6%) 1,749 1,792 (+25%) 1,506 4,529 (+41%) 665 4,157 7,182 (-57%) 1,396 6,679 (+8%) 653 (+>100%) Resorts World Genting 5,348 (-61%) 1,065 (+>100%) 3,211 (+63%) (
Slide 10: Capital Management Strategy: Dividend per Share
GENM CAPITAL MANAGEMENT STRATEGY 24 Dividend per Share 19.00 20.00 20 Net dividend per share (sen) 8.00 9.00 15.00 16 14.50 12 8.50 9.00 11.00 11.00 8 4 6.00 - FY18 FY19 FY20 FY21 FY22 Dividend ▪ FY22 dividend yield: 5.6%# ▪ FY22 total dividend of 15.0sen (FY21: 9.0sen) Share Buyback ▪ Resorts World
Slide 11: 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 ▪ Top 25% in the FTSE4Good Bursa Malaysia Index 2021 ASEAN Corporate Asiamoney 2022 Asia’s Safer Gambling Standard Governance S
Slide 12: Malaysian Operations
MALAYSIAN OPERATIONS 12
Slide 13: Malaysia Leisure & Hospitality Performance Review 4Q22 & FY22
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 4Q22 & FY22 % % In RM’mil 4Q22 4Q21 Change FY22 FY21 Change Revenue 1,587 962 ↑65% 5,213 1,516 ↑>100% % of 2019 99% 60% 74% 21% Adjusted EBITDA / (LBITDA) 467 358 ↑30% 1,634 16 ↑>100% % of 2019 >100% 86% 80% 0.8% Adjusted EBITDA Margin 29% 37% 31%
Slide 14: Malaysia Leisure & Hospitality Performance Review 4Q22 vs 3Q22
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 4Q22 vs 3Q22 In RM’mil 4Q22 3Q22 % Change Revenue 1,587 1,396 ↑14% % of 2019 99% 78% Adjusted EBITDA / (LBITDA) 467 445 ↑5% % of 2019 >100% 83% Adjusted EBITDA Margin 29% 32% ▪ RWG’s recovery momentum mainly driven by continued ramp up of operatio
Slide 15: RWG Key Statistics – FY22
LEISURE & HOSPITALITY MALAYSIA RWG KEY STATISTICS – FY22 One of Asia’s leading integrated resort destinations with ~10,500 rooms* 5.5m 22m 79% MEMBERS VISITORS DAY-TRIPPERS (FY19: 5.0m) (FY19: 28.7m) (FY19: 76%) 2.4m 95% RM213 ROOM NIGHTS OCCUPANCY AVG ROOM RATE (FY19: 3.5m) SOLD (FY19: 95%) (FY19:
Slide 16: Resorts World Genting Highlights in 2022
RESORTS WORLD GENTING MALAYSIA HIGHLIGHTS IN 2022 Soft Opening of Genting SkyWorlds on 8 February 2022 ..… Exclusive world-class attractions promising endless entertainment 16
Slide 17: UK, US, Bahamas, Egypt Locations
UK US Bahamas Egypt Note: 1 GENM owns 49% indirect stake in RW Catskills 17
Slide 18: Overseas Operations: UK & Egypt
OVERSEAS OPERATIONS UK & EGYPT 18
Slide 19: UK & Egypt Performance Review 4Q22 & FY22
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 4Q22 & FY22 % % In £’mil 4Q22 4Q21 Change FY22 FY21 Change Revenue 62.5 76.3 ↓18% 276.4 186.7 ↑48% % of 2019 79% 97% 87% 59% Adjusted EBITDA 11.2 31.4 ↓64% 55.1 42.7 ↑29% % of 2019 100% >100% >100% 97% Adjusted EBITDA Margin 18% 41% 20% 23% ▪ 4Q
Slide 20: UK & Egypt Performance Review 4Q22 vs 3Q22
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 4Q22 vs 3Q22 In £’mil 4Q22 3Q22 % Change Revenue 62.5 74.1 ↓16% % of 2019 79% 92% Adjusted EBITDA / (LBITDA) 11.2 14.0 ↓20% % of 2019 100% 85% Adjusted EBITDA Margin 18% 19% ▪ 4Q22 volume of business in the UK impacted by inflationary pressures
Slide 21: Overseas Operations: US & Bahamas
OVERSEAS OPERATIONS US & BAHAMAS 21
Slide 22: US & Bahamas Performance Review 4Q22 & FY22
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 4Q22 & FY22 In US$’mil 4Q22 4Q21 % Change FY22 FY21 % Change Revenue RWNYC and RW Omni 89.4 80.6 ↑11% 346.0 304.1 ↑14% RW Bimini 11.4 3.2 ↑>100% 31.3 15.3 ↑>100% Total 100.8 83.8 ↑20% 377.3 319.4 ↑18% % of 2019 >100% 95% >100% 90% Adjusted EBI
Slide 23: US & Bahamas Performance Review 4Q22 vs 3Q22
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 4Q22 vs 3Q22 In US$’mil 4Q22 3Q22 % Change Revenue RWNYC and RW Omni 89.4 86.5 ↑3% RW Bimini 11.4 8.6 ↑33% Total 100.8 95.1 ↑6% % of 2019 >100% >100% Adjusted EBITDA/(LBITDA) RWNYC and RW Omni 37.3 32.1 ↑16% RW Bimini (4.5) (3.2) ↓41% Total 32
Slide 24: Resorts World New York City
US RESORTS WORLD NEW YORK CITY ▪ Leading VLT facility in New York State with approx. 41%* market share ▪ The new 400-room Hyatt Regency JFK Airport at Resorts World New York hotel opened on 6 August 2021 ▪ Features premium guestrooms, state-of- the-art conference space, renowned F&B outlets and addi
Slide 25: Empire Resorts, Inc.
US EMPIRE RESORTS, INC. ▪ 49%-owned via an associate company ▪ 1 of 4 commercial gaming-licensed casinos in the New York State ▪ 150 live table games, ~1,600 VGMs, over 400 rooms across 2 premium hotels ▪ 1 of 9 licensed mobile sports betting operators in New York, operating Resorts World Bet ▪ Tota
Slide 26: Empire Resorts Performance Review 4Q22 & FY22
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW IN 4Q22 & FY22 % % In US$’mil 4Q22 4Q21 Change FY22 FY21 Change Revenue 67.2 62.4 ↑8% 262.9 231.0 ↑14% % of 2019 >100% >100% >100% 96% Adjusted EBITDA 5.2 13.1 ↓60% 37.2 36.0 ↑3% % of 2019 N/A N/A N/A N/A Adjusted EBITDA Margin 8% 21% 14% 16% ▪ Decline in 4
Slide 27: Empire Resorts Performance Review 4Q22 vs 3Q22
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW IN 4Q22 vs 3Q22 In US$’mil 4Q22 3Q22 % Change Revenue 67.2 73.9 ↓9% % of 2019 >100% >100% Adjusted EBITDA / (LBITDA) 5.2 19.3 ↓73% % of 2019 N/A N/A Adjusted EBITDA Margin 8% 26% ▪ Decline in revenue mainly due to lower volume of business at RW Catskills ▪
Slide 28: Resorts World Hudson Valley
US RESORTS WORLD HUDSON VALLEY ▪ New York State’s newest casino ▪ Opened on 28 December 2022 ▪ 60,000 sq ft gaming and entertainment hub featuring: ▪ 1,200 VGMs ▪ Bar and Lounge ▪ Various F&B Offerings Artist Impression 28
Slide 29: Looking Ahead
LOOKING AHEAD 29
Slide 30: Looking Ahead: Prospects and Focus – Resorts World Genting
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS Resorts World Genting ▪ Continued ramp up of RWG’s operations whilst focusing on managing yield and profitability ▪ Build on RWG’s service delivery and product offerings to enhance the quality of guest experience ▪ Leverage quality assets to grow ke
Slide 31: Looking Ahead: Prospects and Focus – UK & Egypt
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS UK & Egypt ▪ Challenges implicit in the current operating environment remain ▪ Continued focus on cost optimisation whilst reinforcing the Group’s operational and financial foundations ▪ Ongoing investments will enable the Group to strengthen its ca
Slide 32: 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 the northeast US region ▪ Maximise synergies between RWNYC and Empire to improve the Group’s competitiveness and overall returns
Slide 33: 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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