Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — CLSA Investors' Forum 2021
26 slides from Genting Malaysia Bhd's conference presentation, Sep 13, 2021
Slide 1: CLSA Investors' Forum 2021
Copyright © 2021 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. Copyright © 2021 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. CLSA Investors’ Forum 2021 Monday, 13 September 2021 1 Copyright © 2021 Genting Malaysia Berhad 198001004236 (58019-U). All Righ
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 RM17.6bn • 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 GENM 2Q21 & 1H21
FINANCIAL HIGHLIGHTS GENM 2Q21 & 1H21 % In RM’mil 2Q21 2Q20 % Change 1H21 1H20 Change Revenue 818 115 ↑>100% 1,441 2,071 ↓30% Adjusted 46 (486) ↑>100% (65) (131) ↑50% (LBITDA)/EBITDA Adjusted EBITDA Margin 6% N/A N/A N/A Net (Loss)/Profit (367) (923) ↑60% (868) (1,377) ↑37% ▪ Improvement in 2Q21 per
Slide 8: GENM 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: M'sia Performance Review in 2Q21 & 1H21
LEISURE & HOSPITALITY M’SIA PERFORMANCE REVIEW IN 2Q21 & 1H21 % % In RM’mil 2Q21 2Q20 1H21 1H20 Change Change Revenue 237.9 82.2 ↑>100% 536.9 1,307.3 ↓59% Adjusted (94.2) (214.7) ↑56% (177.8) 116.5 ↓>100% (LBITDA)/EBITDA Adjusted EBITDA N/A N/A N/A 9% Margin ▪ 2Q21 operating performance improved wit
Slide 12: M'sia Genting SkyWorlds
LEISURE & HOSPITALITY M’SIA GENTING SKYWORLDS Winter Wonderland ..… Timely completion of Genting SkyWorlds a key focus 12
Slide 13: Overseas Properties: UK, US, Bahamas, Egypt
• One of the largest gaming • First integrated leisure • First and only video gaming 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 14: Overseas Operations: UK & Egypt
04 OVERSEAS OPERATIONS UK & EGYPT 14
Slide 15: UK & Egypt Performance Review in 2Q21 & 1H21
UK & LEISURE & HOSPITALITY EGYPT PERFORMANCE REVIEW IN 2Q21 & 1H21 % % In £’mil 2Q21 2Q20 1H21 1H20 Change Change Revenue 32.6 6.1 ↑>100% 39.6 75.5 ↓47% Adjusted 2.5 (19.4) ↑>100% (6.6) (15.1) ↑57% (LBITDA)/EBITDA Adjusted EBITDA 8% N/A N/A N/A Margin ▪ 1H21 revenue impacted by temporary closure of
Slide 16: Overseas Operations: US & Bahamas
04 OVERSEAS OPERATIONS US & BAHAMAS 16
Slide 17: US & Bahamas Performance Review in 2Q21 & 1H21
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 2Q21 & 1H21 % % In US$’mil 2Q21 2Q20 1H21 1H20 Change Change Revenue RWNYC and RW Omni 80.5 (8.8) ↑>100% 142.7 65.7 ↑>100% RW Bimini 5.0 0.0 ↑>100% 5.9 2.3 ↑>100% Total 85.5 (8.8) ↑>100% 148.6 68.0 ↑>100% Adjusted (LBITDA)/EBITDA RWNYC and RW
Slide 18: US & Bahamas Update on Operations
US & LEISURE & HOSPITALITY BAHAMAS UPDATE ON OPERATIONS NEW YORK CASINOS RESUMED OPERATIONS SINCE SEPT 9TH ▪ Casinos and VLT facilities in New York returned to full operating hours from 5 April 2021 ▪ All operational restrictions lifted since 15 June 2021 ▪ Reopening of RWNYC and RWC have been well
Slide 19: US RWNYC Expansion
US RWNYC EXPANSION • The new 400-room Hyatt Regency JFK Airport at Resorts World New York hotel opened on 6 August 2021 • Features premium guestrooms, state-of-the-art conference space, renowned F&B outlets and additional gaming space ……Transforming RWNYC into a premium integrated resort destination
Slide 20: US Resorts World Catskills
US RESORTS WORLD CATSKILLS ▪ 49%-owned via an associate company ▪ One of four commercial gaming-licensed casinos in the New York State ▪ 150 live table games, ~1,600 VGMs, over 400 rooms across 2 premium hotels and various F&B outlets ▪ Total investment in Empire1 : ~USD374 mil 1Assuming full subscr
Slide 21: US Empire Resorts, Inc Performance Review in 2Q21 & 1H21
US EMPIRE RESORTS, INC PERFORMANCE REVIEW IN 2Q21 & 1H21 % % In US$’mil 2Q21 2Q20 1H21 1H20 Change Change Revenue 55.6 0.2 ↑>100% 97.4 47.1 ↑>100% Adjusted (LBITDA) 3.5 (20.9) ↑>100% (0.0) (28.0) ↑>100% Adjusted LBITDA 6% N/A N/A N/A Margin ▪ Improved operating performance driven by progressive easi
Slide 22: Looking Ahead
22 5 LOOKING AHEAD =)
Slide 23: M'sia Prospects and Focus
LOOKING AHEAD M’SIA PROSPECTS AND FOCUS Resorts World Genting ▪ Continue to assess operating structure and align cost base to the challenging operating environment ▪ Focus on implementing various initiatives for sustainable long-term growth and profitability ▪ Health and safety of guests, employees
Slide 24: UK & Egypt Prospects and Focus
UK & LOOKING AHEAD EGYPT PROSPECTS AND FOCUS UK & Egypt ▪ Focus on driving revenue and business volume in the Group’s casinos ▪ Adopt an agile approach in managing cost structure 24
Slide 25: US & Bahamas Prospects and Focus
US & LOOKING AHEAD BAHAMAS PROSPECTS AND FOCUS US & Bahamas ▪ Place emphasis on strengthening the Group’s market leading position in the NYS gaming market ▪ Expansion in New York – Development of new VGM facility, RW Hudson Valley, at Orange County ▪ Leverage synergies between RWNYC and RWC to devel
Slide 26: 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