Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Nomura Investment Forum Asia 2021
28 slides from Genting Malaysia Bhd's conference presentation, Jun 4, 2021
Slide 1: Nomura Investment Forum Asia 2021
Copyright © 2021 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. Copyright © 2021 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. Nomura Investment Forum Asia 2021 Friday, 4 June 2021 1 Copyright © 2021 Genting Malaysia Berhad 198001004236 (58019-U). All Rig
Slide 2: Agenda
GROUP OVERVIEW GROUP HIGHLIGHTS MALAYSIAN OPERATIONS AGENDA OVERSEAS OPERATIONS • UK & EGYPT • US & BAHAMAS LOOKING AHEAD 2
Slide 3: Group Overview
01 GROUP OVERVIEW 3
Slide 4: 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 4
Slide 5: GENM Group Overview: Introduction
GENM GROUP OVERVIEW INTRODUCTION Overview • GENM is a globally diversified casino and resort operator with a market capitalization1 of RM16.3bn • Genting Group (“GENT”) has 49.5% ownership in GENM, and is the immediate and ultimate holding company of GENM • Sole licensed casino operator in Malaysia,
Slide 6: Group Highlights
02 GROUP HIGHLIGHTS 6
Slide 7: Financial Highlights FY20 & 1Q21
FINANCIAL HIGHLIGHTS GENM FY20 & 1Q21 % % In RM’mil FY20 FY19 1Q21 1Q20 Change Change Revenue 4,529 10,407 ↓56% 623 1,956 ↓68% Adjusted 350 2,641 ↓87% (110) 355 ↓>100% (LBITDA)/EBITDA Adjusted EBITDA Margin 8% 25% N/A 18% Net (Loss)/Profit (2,362) 1,332 ↓>100% (501) (454) ↓10% ▪ Positive EBITDA achi
Slide 8: 5-Year Revenue Growth
FINANCIAL HIGHLIGHTS GENM 5-YEAR REVENUE GROWTH GENM is Well Diversified from a Revenue Perspective Revenue (RM’m) 10,407 9,928 9,330 1,538 8,932 1,457 (+6%) 1,493 (-2%) 1,403 (+6%) 1,687 1,792 (-6%) (-6%) 1,915 1,822 (+5%) 4,529 665 6,679 7,182 5,922 (+8%) 653 (+13%) 5,707 (+4%) 3,211 FY16 FY17 FY1
Slide 9: Capital Management: Dividend per Share
CAPITAL MANAGEMENT GENM STRATEGY Dividend per Share 24 Net dividend per share (sen) 20.00 20 19.00 16.50 17.00 9.00 16 8.00 14.50* 7.30 8.00 12 8.50 11.00 11.00 8 9.20 9.00 7.10 4 6.00 - FY15 FY16 FY17 FY18 FY19 FY20 *Include a special dividend of 8.5 sen (FY19: 9.0 sen) per share Dividend ▪ Mindful
Slide 10: Malaysian Operations
03 MALAYSIAN OPERATIONS 10
Slide 11: Malaysia Performance Review in FY20 & 1Q21
LEISURE & HOSPITALITY M’SIA PERFORMANCE REVIEW IN FY20 & 1Q21 % % In RM’mil FY20 FY19 1Q21 1Q20 Change Change Revenue 3,133.3 7,066.6 ↓56% 299.0 1,225.1 ↓76% Adjusted 672.0 2,048.2 ↓67% (83.6) 331.2 ↓>100% (LBITDA)/EBITDA Adjusted EBITDA 21% 29% N/A 27% Margin ▪ 1Q21 business volume impacted by COVI
Slide 12: Malaysia RWG Key Statistics in FY20
LEISURE & HOSPITALITY M’SIA RWG KEY STATISTICS IN FY20 One of Asia’s leading integrated resort destinations with ~10,500 rooms* 5.0m 12.7m 81% VISITORS DAY-TRIPPERS MEMBERS (FY19: 76%) (FY19: 5.0m) (FY19: 28.7m) 44% of FY19 85% RM222 50% ROOMS SOLD AVG ROOM RATE OCCUPANCY TO MEMBERS ↑1% (FY19: 95%)
Slide 13: Genting SkyWorlds
LEISURE & HOSPITALITY M’SIA GENTING SKYWORLDS Winter Wonderland ..… Exclusive world-class attractions promising endless entertainment 13
Slide 14: Overseas Properties: UK, US, Bahamas, Egypt
• First and only video gaming • One of the largest gaming • First integrated leisure machine facility in New York City UK operators in the UK complex of its kind in the UK US Bahamas Egypt • One of four commercial gaming- licensed casinos in New York1 Crockfords Cairo • Features a casino, Hilton at
Slide 15: Overseas Operations: UK & Egypt
04 OVERSEAS OPERATIONS UK & EGYPT 15
Slide 16: UK & Egypt Performance Review in FY20 & 1Q21
UK & LEISURE & HOSPITALITY EGYPT PERFORMANCE REVIEW IN FY20 & 1Q21 % % In £’mil FY20 FY19 1Q21 1Q20 Change Change Revenue 123.0 316.8 ↓61% 7.2 69.3 ↓90% Adjusted (32.5) 43.8 ↓>100% (9.2) 4.3 ↓>100% (LBITDA)/EBITDA Adjusted EBITDA N/A 14% N/A 6% Margin ▪ 1Q21 operating results impacted by: ▪ Nationwi
Slide 17: Overseas Operations: US & Bahamas
04 OVERSEAS OPERATIONS US & BAHAMAS 17
Slide 18: US & Bahamas Performance Review in FY20 & 1Q21
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN FY20 & 1Q21 % % In US$’mil FY20 FY19 1Q21 1Q20 Change Change Revenue* RWNYC and RW Omni 140.9 332.8 ↓58% 62.2 74.5 ↓17% RW Bimini 2.9 21.8 ↓87% 0.9 2.3 ↓61% Total 143.8 354.6 ↓59% 63.1 76.8 ↓18% Adjusted (LBITDA)/EBITDA RWNYC and RW Omni (17.4
Slide 19: Update on Operations
US & LEISURE & HOSPITALITY BAHAMAS UPDATE ON OPERATIONS NEW YORK CASINOS RESUMED OPERATIONS SINCE SEPT 9TH ▪ Casinos and VLT facilities in New York returned to full operating hours from 5 April 2021 ▪ Maximum occupancy limit increased from 25% to 50% effective 19 May 2021 ▪ Reopening of RWNYC and RW
Slide 20: US RWNYC Expansion
US RWNYC EXPANSION ▪ Preparations in place for the opening of the new 400-room Hyatt Regency JFK at Resorts World New York hotel in summer 2021 ▪ Other amenities in the pipeline include a variety of dining, entertainment and retail outlets ArtistImpression Artist Impression ……Transforming RWNYC into
Slide 21: US RWNYC Expansion
US RWNYC EXPANSION ……Transforming RWNYC into a premium integrated resort destination 21
Slide 22: US Resorts World Catskills
US RESORTS WORLD CATSKILLS ▪ 49%-owned via an associate company ▪ One of four commercial gaming-licensed casinos in the New York State ▪ 150 live table games, ~1,600 VGMs, over 400 rooms across 2 premium hotels and various F&B outlets ▪ Total investment in Empire1 : ~USD374 mil 1Assuming full subscr
Slide 23: Empire Resorts, Inc Performance Review in FY20 & 1Q21
US EMPIRE RESORTS, INC PERFORMANCE REVIEW IN FY20 & 1Q21 % % In US$’mil FY20 FY19 1Q21 1Q20 Change Change Revenue 91.2 227.5 ↓60% 39.2 47.0 ↓17% Adjusted (LBITDA) (43.1) (42.9) ↓0% (3.5) (4.3) ↑17% Adjusted LBITDA N/A N/A N/A N/A Margin ▪ FY20 performance impacted by temporary closure of RW Catskill
Slide 24: Looking Ahead
24 5 LOOKING AHEAD =)
Slide 25: Malaysia Prospects and Focus
LOOKING AHEAD M’SIA PROSPECTS AND FOCUS Resorts World Genting ▪ Temporary closure of RWG will impact the Group’s business ▪ Continue to assess operating structure and align cost base to the challenging operating and business environment ▪ Health and safety of guests, employees and the community at R
Slide 26: UK & Egypt Prospects and Focus
UK & LOOKING AHEAD EGYPT PROSPECTS AND FOCUS UK & Egypt ▪ Group’s land-based casinos have reopened since 17 May 2021 ▪ Focus on driving revenue and business volume at its venues ▪ Adopt an agile approach in managing cost structure to better adapt to the new operating environment 26
Slide 27: US & Bahamas Prospects and Focus
US & LOOKING AHEAD BAHAMAS PROSPECTS AND FOCUS US & Bahamas ▪ Focused on strengthening Group’s market leading position in the NYS gaming market ▪ Leverage synergies between RWNYC and RWC to grow strong local market exposure ▪ Preparations in place for the opening of the new 400-room Hyatt Regency JF
Slide 28: 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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