Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — CLSA Investors' Forum 2014 - Hong Kong
39 slides from Genting Malaysia Bhd's conference presentation, September 2014
Slide 1: Corporate Presentation
No. 58019-U Corporate Presentation CLSA IF2014 - HK September 2014 1
Slide 2: Agenda
Agenda Overview • Genting Group • Domestic Operations Resorts World Genting Genting Casinos Chinatown London, GUK • Overseas Operations Genting Casinos United Kingdom Resorts World Casino New York City Resorts World Bimini & Bimini SuperFast Financial Highlights Marina, RW Bimini Looki
Slide 3: Overview
Overview GENTING MALAYSIA
Slide 4: Genting Malaysia Berhad – Overview
Genting Malaysia Berhad – Overview Market capitalisation of approx. RM25.2 bil (US$8.0 bil) 19,000 employees Major leisure, entertainment and gaming operations worldwide Malaysia United Kingdom United States of America Bahamas Normalized data (rebased to 100) 2014 YTD: KLCI ↑ 0.71% v
Slide 5: Corporate Structure – Leisure & Hospitality
Corporate Structure – Leisure & Hospitality Berhad 49.3% Leisure, hospitality, Others entertainment and gaming 17.8% 100% 1 100% 100% 100% 100% 70% 44.9 % 100% 27.7% 1 Includes Awana Hotel 5
Slide 6: Resorts World Genting, Malaysia
Resorts World Genting, Malaysia 19.6m visitors in FY2013 13,000 employees 3.5m Genting loyalty card members 9,000 rooms Adjusted EBITDA of RM1,974m in FY2013 Freeze 2, RWG Crockfords, RWG Resorts World Genting …… A leading integrated leisure & entertainment resort 6
Slide 7: Genting Casinos United Kingdom, UK
Genting Casinos United Kingdom, UK 4.0m visitors in FY2013 Operates 41 casinos (London: 6; Provincial: 35) 3,400 employees Adjusted EBITDA of £47m in FY2013 Crockfords, UK Genting Casino Margate, UK Genting Club Riverlights, UK …… A leading casino operator in the UK 7
Slide 8: Resorts World Casino New York City, US
Resorts World Casino New York City, US 12.0m visitors in FY2013 Equipped with 5,000 video gaming machines and other leisure facilities 1,000 employees Adjusted EBITDA of US$100m in FY2013 F&B Outlet, RWNYC Baccarat Club, RWNYC RWNYC …… Highest grossing slots facility by revenue in North Am
Slide 9: Resorts World Bimini & Bimini SuperFast
Resorts World Bimini & Bimini SuperFast Commenced operations on 1 July 2013 70 : 30 joint venture Experience starts in Miami aboard the Bimini SuperFast cruise ferry Offers gaming, accommodation, leisure and entertainment in the resort and on the RW Bimini SuperFast cruise ferry 500 empl
Slide 10: Financial Highlights
Financial lig hlights Bimini Club, RW Bimini GENTING MALAYSIA 10
Slide 11: Financial Performance at a Glance – FY2013
Financial Performance at a Glance – FY2013 Malaysian operations • Higher volume of business and hold percentage • Lower adjusted EBITDA margin due to higher payroll costs and contributions UK operations • Higher volume of business from the London casinos US operations • Higher volume of busine
Slide 12: Financial Performance at a Glance – 1H2014
Financial Performance at a Glance – 1H2014 Malaysian operations • Lower hold percentage in the premium players business • Lower visitations to RWG as a result of expansion UK operations • Higher volume of business in London casinos offset by lower hold percentage US operations • Capacity const
Slide 13: Revenue and Adjusted EBITDA
Revenue and Adjusted EBITDA Revenue by geography in 2013*: Adjusted EBITDA by geography in 2013*: * 100% Malaysia in 2008 13
Slide 14: GENM – Leisure & Hospitality Revenue Bridge
GENM – Leisure & Hospitality Revenue Bridge RM’mil 4,034 3,835 14
Slide 15: GENM – Leisure & Hospitality EBITDA Bridge
GENM – Leisure & Hospitality EBITDA Bridge 1,213 RM’mil 1,003 15
Slide 16: Capital Management Strategy
Capital Management Strategy Dividend Net div per share : 7.13 sen in 2013 • 5-year CAGR: 7% 1H14 interim dividend: ↓ 7% Consistent payout ratio 25% Share Buy Back Initiated since July 2007 To date, bought back 267m shares for RM898m 4.50% of total issued capital 16
Slide 17: Aerial view of Resorts World Genting
Aerial view of Resorts World Genting 17
Slide 18: RWG – Performance Review
RWG – Performance Review Resilient Performance: Revenue growth • ↑ 4% y-o-y (FY13 vs FY12) • ↓ 6% y-o-y (1H14 vs 1H13) • 5-year CAGR : 3% Adjusted EBITDA • ↓ 3% FY13 (vs FY12) • 1H14 consistent with 1H13 Adjusted EBITDA margin • ↓ 2ppt to 35% (FY13 vs FY12) • ↑ 2ppt to 36% (1H14 vs 1H13) 18
Slide 19: RWG – Global Peer Comparison
RWG – Global Peer Comparison Adjusted EBITDA Margin by Properties 1H2014 * Before management and logo fees to Genting Berhad Sources: Bloomberg and individual company websites (Fx rate as at 30 June 2014) ……. Amongst the top 3 EBITDA Margin by Properties 19
Slide 20: Genting Integrated Tourism Plan (“GITP”)
Genting Integrated Tourism Plan (“GITP”) 17 December 2013 20th Century Fox World Theme Park, Artist impression Launching of the RM5.0 billion (~US$1.6 billion) Genting Integrated Tourism Plan and Twentieth Century Fox World theme park …… Groundbreaking ceremony 20
Slide 21: GITP – RWG Hilltop Development
GITP – RWG Hilltop Development New 3-Star Hotel Refurbishment of existing hotels Refurbishment of First World Hotel New 20th Century Fox World Theme Park Genting Mall, Show Arena, New Hotels & 2nd Cable Car Station 21
Slide 22: GITP – Proposed Plans
GITP – Proposed Plans 3 new hotels (~3,000 rooms) 20th Century Fox World theme park Show arena (10,000 pax) Additional F&B outlets, retail Genting Mall (Artist impression) and entertainment areas New cable car system and utilities Wet park Show Arena (Artist impression) 22
Slide 23: GITP – Mid-hill Development Plans
GITP – Mid-hill Development Plans New cable car system Hilltop station (Linking mid-hill to hilltop) Multi-storey car park Upgrading of existing facilities at Awana Hotel Mid-hill station Mid-hill Awana Hotel 23
Slide 24: UK, US & Bahamas
UK US & Bahamas 24
Slide 25: Genting Club Riverlights Genting Club Sheffield
Genting Club Riverlights Genting Club Sheffield 25
Slide 26: Genting UK Performance
Genting UK Performance 1H 2014 Performance Revenue ↓ 23% y-o-y • London ↓ 39% • Provincial ↓ 1% Visitors ↓ 2% to 2.03m (1H13: 2.08m) FY2013 Performance Revenue ↑ 12% y-o-y • London ↑ 12% • Provincial ↑ 12% Visitors ↑ 5% to 4.04m (FY12: 3.85m) …… Increase volume to address volatility 26
Slide 27: Resorts World Birmingham, UK
Resorts World Birmingham, UK Located at the National Exhibition Centre in Birmingham Investment commitment: £150 mil Scheduled to open in 2Q2015 Components of RW Birmingham: - Casino - Hotel RW Birmingham (Artist Impression) - Outlet shopping mall - 11-screen cinema - Conference and banqueti
Slide 28: Resorts World Casino New York City, US; Resorts World Miami; Bimini
Resorts World Casino New York City, US Resorts World Miami, US Resorts World Bimini, Bahamas Bimini SuperFast, Bahamas 28
Slide 29: Resorts World Casino New York City Performance
Resorts World Casino New York City Performance 1H 2014 Performance Average Win Per Unit ↑ 3% y-o-y Market share of 42% (1H13: 42%) Visitors: 4.3m FY2013 Performance Average Win Per Unit ↑ 16% y-o-y Market Share of 41% (FY12: 37%) Visitors ↑ 12% to 12.0m (FY12: 10.7m) RWNYC’s Win Per Un
Slide 30: Resorts World Miami, US
Resorts World Miami, US US$ 500m investment OMNI Center 30-acres prime freehold waterfront site in downtown Miami (includes Miami Herald and OMNI Center) Plan for a mixed-use development is currently in progress Demolition and site preparation on the former Miami Herald site Location Overvie
Slide 31: Upstate New York Casino License
Upstate New York Casino License On 31 March 2014, the New York Gaming Commission issued request for applications 2 hours Montgomery M GENM submitted 2 bids of up to 1 hour US$1.5 billion :- T Tuxedo • Sterling Forest Resort (“Tuxedo”) R RWNYC • Resorts World Hudson Valley (“Montgomery”) RW Hudso
Slide 32: Tuxedo (Sterling Forest Resort)
Tuxedo (Sterling Forest Resort) US$1,500 million investment 1,000 Luxury hotel rooms Spa and wellness center Sterling Forest Gardens (Artist Impression) World-class ski center for winter; Zip lines for all seasons; Bicycle/Motor- bicycle tracks and other outdoor activities for summer All s
Slide 33: Montgomery (Resorts World Hudson Valley)
Montgomery (Resorts World Hudson Valley) 600 rooms Retail and F&B offerings Future capex includes:- Artist Impression • Indoor/Outdoor theme park Casino Garden, RW Hudson Valley (Artist Impression) • Meeting/Event center • 2,500-seats Theater • 18-hole Golf course RW Hudson Valley (Artist Impr
Slide 34: Bimini, Bahamas
BIMINI BAHAMAS
Slide 35: Resorts World Bimini and Bimini SuperFast
Resorts World Bimini and Bimini SuperFast Total casino capacity of 40 tables and 250 slots 10 restaurants and bars Bimini SuperFast cruise ferry • Sails regularly between Miami and Bimini • Capacity of up to 1,500 pax The deep water jetty and new luxury hotel is Guest Villas, RW Bimini exp
Slide 36: Oceanfront Villa, RW Bimini
Oceanfront Villa, RW Bimini 36
Slide 37: Prospects and Focus
Prospects and Focus General Prospects Global economy expected to gain momentum in 2H2014 Regional tourism industry remains largely positive despite recent events affecting air travel Positive longer term outlook for L & H industry Resorts World Genting RWG Core business expected to remain re
Slide 38: Prospects and Focus
Prospects and Focus Genting UK Resorts World Birmingham is expected to be operational by 2Q 2015 Committed to further grow the premium players business Resorts World Casino New York City Further develop marketing initiatives to increase visitations and grow customer database RW Birmingham (Art
Slide 39: Thank You
Thank You Visit us at www.gentingmalaysia.com 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 director
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