Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Nomura Investment Forum 2020
27 slides from Genting Malaysia Bhd's conference presentation, December 2020
Slide 1: Nomura Investment Forum 2020
Nomura Investment Forum 2020 December 2020 Copyright © 2020 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. 1
Slide 2: Agenda
AGENDA 1 GROUP OVERVIEW 2 GROUP HIGHLIGHTS 3 MALAYSIAN OPERATIONS OVERSEAS OPERATIONS 4 - UK & EGYPT - US & BAHAMAS 5 LOOKING AHEAD 2
Slide 3: Group Overview
1 GROUP OVERVIEW 3
Slide 4: GENM Corporate Structure
GROUP OVERVIEW GENM CORPORATE STRUCTURE One of Asia’s Leading and Best-Managed Multinational Companies * Malaysia US & Bahamas UK & Egypt 100% 100% 100% 100% 78% 100% 100% 49% * Genting Malaysia Berhad is a 49.5% owned subsidiary of Genting Berhad 4
Slide 5: GENM Key Properties
GROUP OVERVIEW GENM KEY PROPERTIES Resorts World Genting, Malaysia Resorts World Casino Resorts World Resorts World Resorts World Bimini, New York City, US Catskills, US Birmingham, UK Bahamas 5
Slide 6: Group Highlights
GROUP HIGHLIGHTS 4 GENTING MALAYSIA
Slide 7: GENM Financial Highlights 3Q20 & 9M20
FINANCIAL HIGHLIGHTS GENM 3Q20 & 9M20 % % In RM’mil 3Q20 3Q19 9M20 9M19 Change Change Revenue 1,417 2,628 ↓46% 3,488 7,965 ↓56% Adjusted EBITDA 311 694 ↓55% 180 2,090 ↓91% Adjusted EBITDA 22% 26% 5% 26% Margin Net (Loss)/Profit (726) 394 ↓>100% (2,103) 1,050 ↓>100% ▪ 3Q20: Resumption of several reso
Slide 8: Capital Management: Dividend per Share
CAPITAL MANAGEMENT GENM STRATEGY Dividend per Share 24 20.00* Net dividend per share (sen) 20 19.00 16.50 17.00 9.00 16 8.00 7.30 8.00 12 11.00 11.00 8 9.20 9.00 6.00 6.00 6.50 7.10 4 - FY14 FY15 FY16 FY17 FY18 FY19 1H19 1H20 *Include a special dividend of 9.0 sen (FY18: 8.0 sen) per share Dividend
Slide 9: Sustainability Initiatives Gaining Global Recognition
SUSTAINABILITY INITIATIVES GENM GAINING GLOBAL RECOGNITION SUSTAINABILITY IS AT THE FOREFRONT OF GENM’S OPERATIONS FTSE4GOOD INDEX SERIES GENM was included as a constituent of the FTSE4Good Index Series since June 2018, having demonstrated strong ESG practices according to globally recognized standa
Slide 10: Malaysian Operations
3 MALAYSIAN OPERATIONS 10
Slide 11: Malaysia Leisure & Hospitality Performance Review 3Q20 & 9M20
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 3Q20 & 9M20 % % In RM’mil 3Q20 3Q19 9M20 9M19 Change Change Revenue 1,181.3 1,796.2 ↓34% 2,488.6 5,461.8 ↓54% Adjusted EBITDA 424.7 537.5 ↓21% 541.2 1,633.1 ↓67% Adjusted EBITDA 36% 30% 22% 30% Margin ▪ RWG resumed operations since mid-June 2020 w
Slide 12: RWG Key Statistics in 3Q20
LEISURE & HOSPITALITY MALAYSIA RWG KEY STATISTICS IN 3Q20 4.8m 4.0m DAY-TRIPPERS VISITORS (3Q19: 7.2m) 67% of 3Q19 (3Q19: 5.4m) 74% of 3Q19 4 HOTELS OPEN ~4,800 ROOMS 89% HOTEL AVAILABLE (3Q19: 95%) OCCUPANCY RM204 89% AVG ROOM RATE ROOMS SOLD (3Q19: RM222) 92% of 3Q19 (3Q19: 75%) TO MEMBERS 12
Slide 13: Overseas Operations: US & Bahamas
OVERSEAS OPERATIONS CASING NEW YORK CITY US & Bahamas GENTING CASINOS UNITED KINGDOM well CATSKILLS oly @oevmne GENTING MALAYSIA 13
Slide 14: Overseas Operations: UK & Egypt
4 OVERSEAS OPERATIONS UK & EGYPT 14
Slide 15: UK & Egypt Leisure & Hospitality Performance Review
UK & LEISURE & HOSPITALITY EGYPT PERFORMANCE REVIEW IN 3Q20 & 9M20 % % In £’mil 3Q20 3Q19 9M20 9M19 Change Change Revenue 24.1 80.7 ↓70% 99.6 238.0 ↓58% Adjusted (9.3) 16.5 ↓>100% (24.5) 32.6 ↓>100% (LBITDA)/EBITDA Adjusted EBITDA N/A 20% N/A 14% Margin ▪ 9M20 operating results impacted by the 5-mon
Slide 16: Overseas Operations: US & Bahamas
4 OVERSEAS OPERATIONS US & BAHAMAS 16
Slide 17: US & Bahamas Performance Review 3Q20 & 9M20
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 3Q20 & 9M20 % % In US$’mil 3Q20 3Q19 9M20 9M19 Change Change Revenue* RWNYC and RW Omni 16.0 79.5 ↓80% 81.8 248.3 ↓67% RW Bimini 0.7 5.9 ↓88% 3.0 18.0 ↓84% Total 16.7 85.4 ↓80% 84.8 266.3 ↓68% Adjusted (LBITDA)/EBITDA RWNYC and RW Omni (12.6)
Slide 18: US & Bahamas Update on Operations
US & LEISURE & HOSPITALITY BAHAMAS UPDATE ON OPERATIONS NEW YORK CASINOS RESUMED OPERATIONS SINCE SEPT 9TH ▪ Casinos and VLT facilities in New York allowed to recommence operations from 9 September 2020 ▪ Maximum occupancy limit capped at 25% ▪ Reopening of RWNYC and RWC have been well received, des
Slide 19: US RWNYC Expansion
US RWNYC EXPANSION ▪ The new 400-room Hyatt Regency JFK at Resorts World New York hotel is expected to open in stages from 1H21 ▪ Other amenities in the pipeline include a variety of dining, entertainment and retail outlets Artist Impression ……Transforming RWNYC into a premium integrated resort dest
Slide 20: US Resorts World Catskills
US RESORTS WORLD CATSKILLS ▪ 49%-owned via an associate company ▪ One of four commercial gaming-licensed casinos in the New York State ▪ 150 live table games, ~1,600 VGMs, over 400 rooms across 2 premium hotels and various F&B outlets ▪ Total investment in Empire1 : ~USD354 mil Artist Impression 1As
Slide 21: Empire Resorts, Inc Performance Review 3Q20 & 9M20
EMPIRE RESORTS, INC US PERFORMANCE REVIEW IN 3Q20 & 9M20 % % In US$’mil 3Q20 3Q19 9M20 9M19 Change Change Revenue 10.4 68.5 ↓85% 57.6 184.0 ↓69% Adjusted (14.6) 1.3 ↓>100% (39.9) (13.9) ↓>100% (LBITDA)/EBITDA Adjusted EBITDA N/A 2% N/A N/A Margin ▪ 9M19 performance impacted by temporary closure of R
Slide 22: Looking Ahead
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Slide 23: Group Looking Ahead: Operations Prospects and Focus
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS ▪ Group maintains cautious stance on the near-term prospects of the L&H industry ▪ Full extent of the impact of COVID-19 on Group’s operations remains uncertain ▪ Recalibrated operating structure will anchor recovery and position the Group for great
Slide 24: Malaysia Looking Ahead: Prospects and Focus
LOOKING AHEAD MALAYSIA PROSPECTS AND FOCUS Resorts World Genting ▪ Implementation of CMCO in most states in Malaysia will impact Group’s business ▪ Continue to re-engineer itself to adapt to the new operating environment ▪ Health and safety of guests, employees and the community in RWG remains a key
Slide 25: UK & Egypt Looking Ahead: Prospects and Focus
UK & LOOKING AHEAD EGYPT PROSPECTS AND FOCUS UK & Egypt ▪ Land-based casinos in the UK have temporarily closed since 4 November 2020 in compliance with latest government directives ▪ Continue to be agile at streamlining cost structure and identifying operational efficiencies 25
Slide 26: US & Bahamas Looking Ahead: Prospects and Focus
US & LOOKING AHEAD BAHAMAS PROSPECTS AND FOCUS US & Bahamas ▪ Continue to develop the Group’s strong local market exposure in the US ▪ Execute various strategies to drive visitation and frequency of play at RWNYC and RWC ▪ RW Bimini’s operations remain suspended since 25 July 2020 amid renewed conce
Slide 27: 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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