Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — CGS-CIMB Malaysia Virtual Corporate Day 2023
33 slides from Genting Malaysia Bhd's conference presentation, Jan 6, 2023
Slide 1: CGS-CIMB Malaysia Virtual Corporate Day 2023
Copyright © 2022 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. CGS-CIMB Malaysia Virtual Corporate Day 2023 6 January 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 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 3Q22 & 9M22
FINANCIAL HIGHLIGHTS GENM 3Q22 & 9M22 % % In RM’mil 3Q22 3Q21 9M22 9M21 Change Change Revenue 2,271 826 ↑>100% 6,168 2,268 ↑>100% % of 2019 86% 31% 77% 28% Adjusted EBITDA/(LBITDA) 610 54 ↑>100% 1,644 (11) ↑>100% % of 2019 88% 8% 79% N/A Adjusted Resorts EBITDA Margin World Genting 27% 6% 27% N/A Ne
Slide 8: Financial Highlights 3Q22 vs 2Q22
FINANCIAL HIGHLIGHTS GENM 3Q22 vs 2Q22 In RM’mil 3Q22 2Q22 % Change Revenue 2,271 2,176 ↑4% % of 2019 86% 84% Adjusted EBITDA 610 620 ↓2% % of 2019 88% 87% Adjusted EBITDA Margin 27% 28% Resorts World Genting Net (Loss)/Profit (8) (42) ↑81% ▪ Improved financial performance aided by ramp up of the Gr
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 6,679 7,182 (-57%) 1,396 5,922 (+13%) (+8%) 65… (+>100%) Resorts World Genting 5
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 11.00 11.00 6.00 9.20 9.00 6.50 7.10 6.00 4 - FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 9M22 * Special dividend of 9.0 sen (FY20: 8.5 sen) per sha
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. 2021 ASEAN Corporate Asiamoney 2
Slide 12: Malaysian Operations
MALAYSIAN OPERATIONS 12
Slide 13: Malaysia Leisure & Hospitality Performance Review 3Q22 & 9M22
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 3Q22 & 9M22 % % In RM’mil 3Q22 3Q21 Change 9M22 9M21 Change Revenue 1,396 18 ↑>100% 3,626 555 ↑>100% % of 2019 78% 1% 66% 11% Adjusted EBITDA / (LBITDA) 445 (165) ↑>100% 1,167 (343) ↑>100% % of 2019 83% N/A 71% N/A Adjusted EBITDA Margin 32% N/A 3
Slide 14: Malaysia Leisure & Hospitality Performance Review 3Q22 vs 2Q22
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 3Q22 vs 2Q22 In RM’mil 3Q22 2Q22 % Change Revenue 1,396 1,310 ↑7% % of 2019 78% 75% Adjusted EBITDA / (LBITDA) 445 459 ↓3% % of 2019 83% 85% Adjusted EBITDA Margin 32% 35% ▪ Strong recovery in overall business volume registered at RWG in 3Q22 ▪ Ad
Slide 15: RWG Key Statistics – 9M22
LEISURE & HOSPITALITY MALAYSIA RWG KEY STATISTICS – 9M22 One of Asia’s leading integrated resort destinations with ~10,500 rooms* 5.4m 16m 80% MEMBERS VISITORS DAY-TRIPPERS (9M21: 5.1m) (9M21: 2.3m) (9M21: 88%) 1.6m 95% RM212 ROOM NIGHTS OCCUPANCY AVG ROOM RATE (9M21: 0.1m) SOLD (9M21: 48%) (9M21: R
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: 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 3Q22 & 9M22
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 3Q22 & 9M22 % % In £’mil 3Q22 3Q21 Change 9M22 9M21 Change Revenue 74.1 70.8 ↑5% 213.8 110.4 ↑94% % of 2019 92% 88% 90% 46% Adjusted EBITDA 14.0 17.9 ↓22% 43.8 11.3 ↑>100% % of 2019 85% >100% >100% 35% Adjusted EBITDA Margin 19% 25% 21% 10% ▪ 9M
Slide 20: UK & Egypt Performance Review 3Q22 vs 2Q22
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 3Q22 vs 2Q22 In £’mil 3Q22 2Q22 % Change Revenue 74.1 69.5 ↑7% % of 2019 92% 88% Adjusted EBITDA / (LBITDA) 14.0 14.8 ↓5% % of 2019 85% >100% Adjusted EBITDA Margin 19% 21% ▪ Improved revenue performance of Group’s UK & Egypt segment mainly driv
Slide 21: Overseas Operations: US & Bahamas
OVERSEAS OPERATIONS US & BAHAMAS 21
Slide 22: US & Bahamas Performance Review 3Q22 & 9M22
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 3Q22 & 9M22 In US$’mil 3Q22 3Q21 % Change 9M22 9M21 % Change Revenue RWNYC and RW Omni 86.5 80.8 ↑7% 256.6 223.5 ↑15% RW Bimini 8.6 6.2 ↑39% 19.9 12.1 ↑64% Total 95.1 87.0 ↑9% 276.5 235.6 ↑17% % of 2019 >100% >100% >100% 89% Adjusted EBITDA/(L
Slide 23: US & Bahamas Performance Review 3Q22 vs 2Q22
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 3Q22 vs 2Q22 In US$’mil 3Q22 2Q22 % Change Revenue RWNYC and RW Omni 86.5 88.7 ↓2% RW Bimini 8.6 7.3 ↑18% Total 95.1 96.0 ↓1% % of 2019 >100% 80% Adjusted EBITDA/(LBITDA) RWNYC and RW Omni 32.1 32.5 ↓1% RW Bimini (3.2) (4.4) ↑27% Total 28.9 28
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 Performance Review 3Q22 & 9M22
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW IN 3Q22 & 9M22 % % In US$’mil 3Q22 3Q21 Change 9M22 9M21 Change Revenue 73.9 71.2 ↑4% 195.7 168.6 ↑16% % of 2019 >100% >100% >100% 89% Adjusted EBITDA 19.3 11.1 ↑74% 32.1 11.2 ↑>100% % of 2019 N/A N/A N/A N/A Adjusted EBITDA Margin 26% 16% 16% 7% ▪ Empire m
Slide 27: Empire Resorts Performance Review 3Q22 vs 2Q22
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW IN 3Q22 vs 2Q22 In US$’mil 3Q22 2Q22 % Change Revenue 73.9 66.3 ↑11% % of 2019 >100% >100% Adjusted EBITDA / (LBITDA) 19.3 9.4 ↑>100% % of 2019 N/A N/A Adjusted EBITDA Margin 26% 14% ▪ Improvement in 3Q22 revenue and adjusted EBITDA mainly due to higher vol
Slide 28: Resorts World Hudson Valley
US RESORTS WORLD HUDSON VALLEY ▪ 90,000 sq ft gaming and entertainment hub featuring: ▪ 1,200 VGMs ▪ Bar and Lounge ▪ Various F&B Offerings ▪ Opened on 28 December 2022 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 focus on managing yield and profitability at RWG ▪ Continued ramp up of RWG’s operations whilst capitalizing on demand for integrated resort offerings ▪ Active marketing of RWG products and services to the Group’s m
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 ▪ Sustainability of the Group’s recovery momentum a key priority ▪ Continued focus on strategies to grow the Group’s long-term revenues as well as market share in both the
Slide 32: Looking Ahead: Prospects and Focus – US & Bahamas
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS US & Bahamas ▪ Maximise synergies between RWNYC and Empire to improve Group’s competitive position and overall returns of the US operations ▪ Emphasis on the ramp up of new facilities at RWNYC to boost visitation and spend ▪ Drive business volumes t
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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