Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Investor Presentation (June 2022)
33 slides from Genting Malaysia Bhd's investor presentation, June 2022
Slide 1: Corporate Presentation
Copyright © 2022 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. Corporate Presentation June 2022 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 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 RM16.3bn • 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 1Q22 vs 1Q21
FINANCIAL HIGHLIGHTS GENM 1Q22 vs 1Q21 In RM’mil 1Q22 1Q21 % Change Revenue 1,721 623 ↑>100% % of 2019 63% 23% Adjusted EBITDA/(LBITDA) 414 (110) ↑>100% % of 2019 61% N/A Adjusted EBITDA Margin 24% N/A Resorts World Genting Net (Loss)/Profit (148) (501) ↑70% ▪ Recovery momentum of Group’s operations
Slide 8: Financial Highlights 1Q22 vs 4Q21
FINANCIAL HIGHLIGHTS GENM 1Q22 vs 4Q21 In RM’mil 1Q22 4Q21 % Change Revenue 1,721 1,889 ↓9% % of 2019 63% 77% Adjusted EBITDA/(LBITDA) 414 738 ↓44% % of 2019 61% >100% Adjusted EBITDA Margin 24% 39% Resorts World Genting Net (Loss)/Profit (148) 124 ↓>100% ▪ Impact to Group’s financial performance ma
Slide 9: Financial Highlights: Revenue Trend
FINANCIAL HIGHLIGHTS GENM REVENUE TREND GENM is Well Diversified Geographically 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%) 1,915 (-6%) 1,822 (+5%) 4,529 665 4,157 Resorts World Genting 6,679 7,182 (-57%) 1,396 (+8%) 653 5,922 (+13%) (-61%) (+>
Slide 10: Capital Management Strategy: Dividend per Share
GENM CAPITAL MANAGEMENT STRATEGY 24 Dividend per Share 19.00 20.00 20 16.50 17.00 9.00 Net dividend per share (sen) 8.00 14.50 16 8.00 7.30 12 8.50 9.00* 8 9.20 11.00 11.00 9.00 6.50 7.10 6.00 4 - FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 * Special dividend of 9.0 sen (FY20: 8.5 sen) per share Dividen
Slide 11: Sustainability Initiatives
GENM SUSTAINABILITY INITIATIVES SUSTAINABILITY IS AT THE FOREFRONT OF GENM’S OPERATIONS FTSE4GOOD INDEX SERIES GENM is as a constituent of the FTSE4Good Index Series since June 2018, having demonstrated strong ESG practices according to globally recognised standards. The Asset Triple A Sustainable C
Slide 12: Malaysian Operations
MALAYSIAN OPERATIONS 12
Slide 13: Malaysia Performance Review in 1Q22 vs 1Q21
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 1Q22 In RM’mil 1Q22 1Q21 % Change Revenue 920.0 299.0 ↑>100% % of 2019 48% 16% Adjusted EBITDA / (LBITDA) 262.9 (83.6) ↑>100% % of 2019 47% N/A Adjusted EBITDA Margin 29% N/A ▪ RWG’s operating performance in 1Q21 impacted by: ▪ Strict COVID-19 res
Slide 14: Malaysia Performance Review in 1Q22 vs 4Q21
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 1Q22 In RM’mil 1Q22 4Q21 % Change Revenue 920.0 961.9 ↓4% % of 2019 48% 60% Adjusted EBITDA / (LBITDA) 262.9 358.1 ↓27% % of 2019 47% 86% Adjusted EBITDA Margin 29% 37% ▪ 1Q22 adjusted EBITDA impacted by:- ▪ Lower hold percentage in the mid to pre
Slide 15: RWG Key Statistics – 1Q22
LEISURE & HOSPITALITY MALAYSIA RWG KEY STATISTICS – 1Q22 5.2m 4.3m 82% (4Q21: 5.1m) MEMBERS (4Q21: 4.8m) VISITORS (4Q21: 91%) DAY-TRIPPERS 0.4m 88% RM232 (4Q21: 0.2m) ROOM NIGHTS (4Q21: 91%) OCCUPANCY (4Q21: RM286) AVG ROOM SOLD RATE *RWG operated at reduced capacity of ~5,200 rooms as at 31 Mar 202
Slide 16: Resorts World Genting Highlights in 2021
RESORTS WORLD GENTING MALAYSIA HIGHLIGHTS IN 2021 Soft Opening of Genting SkyWorlds on 8 February 2022 ..… Exclusive world-class attractions promising endless entertainment 16
Slide 17: Overseas Operations Locations: UK, US, Bahamas, Egypt
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 in 1Q22 vs 1Q21
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 1Q22 In £’mil 1Q22 1Q21 % Change Revenue 70.2 7.2 ↑>100% % of 2019 89% 9% Adjusted EBITDA / (LBITDA) 15.0 (9.2) ↑>100% % of 2019 >100% N/A Adjusted EBITDA Margin 21% N/A ▪ 1Q21 operating performance impacted by temporary closure of Group’s land-
Slide 20: UK & Egypt Performance Review in 1Q22 vs 4Q21
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 1Q22 In £’mil 1Q22 4Q21 % Change Revenue 70.2 76.3 ↓8% % of 2019 89% 97% Adjusted EBITDA / (LBITDA) 15.0 31.4 ↓52% % of 2019 >100% >100% Adjusted EBITDA Margin 21% 41% ▪ Group’s adjusted EBITDA in 4Q21 aided by the recognition of a one-off tax r
Slide 21: Overseas Operations: US & Bahamas
OVERSEAS OPERATIONS US & BAHAMAS 21
Slide 22: US & Bahamas Performance Review in 1Q22 vs 1Q21
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 1Q22 In US$’mil 1Q22 1Q21 % Change Revenue RWNYC and RW Omni 81.4 62.2 ↑31% RW Bimini 4.0 0.9 ↑>100% Total 85.4 63.1 ↑35% % of 2019 95% 70% Adjusted EBITDA/(LBITDA) RWNYC and RW Omni 26.8 22.2 ↑21% RW Bimini (8.2) (5.3) ↓54% Total 18.6 16.9 ↑1
Slide 23: US & Bahamas Performance Review in 1Q22 vs 4Q21
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 1Q22 In US$’mil 1Q22 4Q21 % Change Revenue RWNYC and RW Omni 81.4 80.6 ↑1% RW Bimini 4.0 3.2 ↑24% Total 85.4 83.8 ↑2% % of 2019 95% 95% Adjusted EBITDA/(LBITDA) RWNYC and RW Omni 26.8 33.6 ↓20% RW Bimini (8.2) (5.6) ↓47% Total 18.6 28.0 ↓34% %
Slide 24: RWNYC Expansion
US RWNYC EXPANSION ▪ 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 additional gaming space .…Transforming RWNYC into a premium integrated resort destinatio
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, Inc. Performance Review 1Q22 vs 1Q21
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW In US$’mil 1Q22 1Q21 % Change Revenue 55.5 41.8 ↑33% % of 2019 98% 73% Adjusted EBITDA / (LBITDA) 3.3 (0.9) ↑>100% % of 2019 N/A N/A Adjusted EBITDA Margin 6% N/A ▪ Strong rebound in operating performance driven by progressive relaxation of COVID-19 restric
Slide 27: Empire Resorts, Inc. Performance Review 1Q22 vs 4Q21
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW In US$’mil 1Q22 4Q21 % Change Revenue 55.5 62.4 ↓11% % of 2019 98% >100% Adjusted EBITDA / (LBITDA) 3.3 13.1 ↓75% % of 2019 N/A N/A Adjusted EBITDA Margin 6% 21% ▪ 1Q22 revenue and adjusted EBITDA impacted by lower volume of business at RWC 1Source: NYS Gam
Slide 28: Resorts World Hudson Valley
US RESORTS WORLD HUDSON VALLEY ▪ Development of new VGM facility, RW Hudson Valley at Orange County underway. ▪ 90,000 sq ft gaming and entertainment hub featuring: ▪ 1,300 VGMs ▪ Bar and Lounge ▪ Various F&B Offerings Artist Impression 28
Slide 29: Looking Ahead
LOOKING AHEAD 29
Slide 30: Operations Prospects and Focus: Resorts World Genting
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS Resorts World Genting ▪ Reopening of national borders will further support Group’s recovery ▪ Ramp up operations by leveraging existing assets ▪ Place emphasis on maximising yield contributions by intensifying database analytics and targeted marketi
Slide 31: Operations Prospects and Focus: UK & Egypt
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS UK & Egypt ▪ Sustainability of the Group’s recovery momentum a key priority ▪ Challenges implicit in the current operating environment remain ▪ Operational improvements implemented in previous years will position the Group well for the year ahead 31
Slide 32: Operations Prospects and Focus: US & Bahamas
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS US & Bahamas ▪ Focus remains on reinforcing the Group’s position as the leading gaming operator in the northeast US region ▪ Intensify marketing efforts to grow the Group’s US customer database ▪ Leveraging RWNYC’s latest improved facilities and Emp
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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