Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — CLSA Investors' Forum 2015 - Hong Kong
38 slides from Genting Malaysia Bhd's conference presentation, September 2015
Slide 1: Corporate Presentation CLSA IF2015 - HK
No. 58019-U Corporate Presentation CLSA IF2015 - HK September 2015 1
Slide 2: Agenda
Agenda Overview Financial Highlights Malaysia Operations • Resorts World Genting • Genting Integrated Tourism Plan Overseas Operations • United Kingdom • United States • Bahamas Looking Ahead 2
Slide 3: Malaysia
O MALAYSIA
Slide 4: GENM – Leisure & Hospitality Corporate Structure
GENM – Leisure & Hospitality Corporate Structure Berhad 49.3% Leisure, hospitality, Others entertainment and gaming 16.9% 100% 1 100% 100% 100% 100% 78% 44.9 % 100% 13.3% 100 % 1 Includes Awana Hotel 4
Slide 5: Resorts World Genting, Malaysia
Resorts World Genting, Malaysia ………… A leading integrated leisure and entertainment resort 5
Slide 6: Genting UK, UK
Genting UK, UK ………… One of the leading casino operators in the UK 6
Slide 7: Resorts World Casino New York City, US
Resorts World Casino New York City, US ……… Highest grossing VGM facility by revenue in Northeast US 7
Slide 8: Resorts World Bimini and Bimini SuperFast
Resorts World Bimini and Bimini SuperFast ……… Experience starts in Miami aboard Bimini SuperFast 8
Slide 9: The Group's Key Properties
The Group’s Key Properties Resorts World Genting (“RWG”) Resorts World Casino New York City (“RWNYC”) 18.1m visitors in FY2014 8.6m visitors in FY2014 ~ 9,000 rooms Equipped with ~5,000 video gaming machines (“VGM”) and other leisure ~ 13,000 employees facilities ~ 3.6m Genting loyalty c
Slide 10: Malaysia
O MALAYSIA 10
Slide 11: GENM – FY 2014 Financial Performance at a Glance
GENM – FY 2014 Financial Performance at a Glance Malaysian & UK operations • Overall higher volume of business but lower hold percentage US operations • RWNYC adjusted EBITDA affected by higher payroll and related costs • Capacity constraints at RW Bimini Others • Write-off project costs due t
Slide 12: GENM – 1H 2015 Financial Performance at a Glance
GENM – 1H 2015 Financial Performance at a Glance Malaysian operations • Overall higher volume of business but lower hold percentage • Impact of GST UK operations • Lower hold percentage and volume of business in the premium players business US operations • Higher volume of business from both R
Slide 13: GENM – L&H Revenue Bridge 1H 2015
GENM – L&H Revenue Bridge 1H 2015 RM’mil 3,961 3,835 13
Slide 14: GENM – Revenue and Adjusted EBITDA
GENM – Revenue and Adjusted EBITDA Revenue by geography in FY2014*: Adjusted EBITDA by geography FY2014*: * 100% Malaysia in 2008 14
Slide 15: GENM – Capital Management Strategy
GENM – Capital Management Strategy Dividend Net div per share of 6.50 sen in 2014 • 5-year CAGR of 3.5% Payout ratio • FY14: 31% • 1H15: 27% Share Buy Back Initiated since July 2007 To date, bought back 268m shares for RM905m 4.52% of total issued capital 15
Slide 16: Aerial view of Resorts World Genting
Aerial view of Resorts World Genting 16
Slide 17: RWG – 1H 2015 Performance Review
RWG – 1H 2015 Performance Review Operational Performance: Revenue growth • ↑ 2% 1H15 vs 1H14 • 5-year CAGR of 2% Adjusted EBITDA • ↓ 5% 1H15 vs 1H14 Adjusted EBITDA margin • ↓ from 36% to 34% in 1H15 17
Slide 18: RWG – Operational Statistics
RWG – Operational Statistics Gaming Revenue Mix FY2014 Hotel Guests’ Nationality FY2014 18
Slide 19: Artist Impression
Artist Impression 19
Slide 20: GITP – Overview
GITP – Overview Estimated RM5 billion investment Key attractions and facilities: • 20th Century Fox World theme park • Additional hotels • Sky Avenue & Sky Plaza • Showroom (10,000 pax) • New cable car system • Multi-storey car park • Additional infrastructure and amenities Projected 30 millio
Slide 21: GITP – Development Plans
GITP — Development Plans ==<—_=<= New attractions 21
Slide 22: GITP – 20th Century Fox World Theme Park
GITP – 20th Century Fox World Theme Park Artist Impression (subject to change) …………First of its kind in the world 22
Slide 23: Issuance of RM2.4 billion Medium Term Notes
Issuance of RM2.4 billion Medium Term Notes On 24 August 2015, GENM issued 2 tranches totalling RM2.4 billion at a blended coupon rate of 4.72% Details are as follows:- Tranche 1 2 Issue size (RM’mil) 1,100 1,300 Tenure 5 years 10 years Coupon rate 4.50% p.a. 4.90% p.a. Payable Semi-annually T
Slide 24: UK, US and The Bahamas
UK US and The Bahamas 24
Slide 25: Genting Club Fountainpark, Lounge
Genting Club Fountainpark, Lounge 25
Slide 26: Genting UK – Performance Review (1H 2015)
Genting UK – Performance Review (1H 2015) Operational Performance: Group revenue ↓ 6% in 1H15 • International Markets ↓ 43% • Home Markets ↑ 27% Adjusted LBITDA of £13m in 1H15 (1H14: EBITDA £2m) ~2.1 mil visitors in 1H15 26
Slide 27: Resorts World Birmingham
Resorts World Birmingham Located at the National Exhibition Centre, Birmingham Investment commitment: £150 mil Features include: • Casino • 180-room hotel • Outlet shopping mall & cinema • Conference & banqueting space • Sky bar, spa & other F&B offering Opening in 4Q 2015 Artist impression
Slide 28: Genting Arena at Birmingham
Genting Arena at Birmingham GUK took over the sponsorship rights from January 2015 One of the largest concert arenas in the UK Located at the National Exhibition Centre, Birmingham Attracts approx. 1 million visitors a year Opportunity to strengthen awareness of Genting brand across the UK
Slide 29: Location of RW Birmingham and Genting Arena
Location of RW Birmingham and Genting Arena ………… Located at the heart of UK’s road & rail networks 29
Slide 30: Resorts World Bimini, Bahamas Bimini SuperFast, Bahamas
Resorts World Bimini, Bahamas Bimini SuperFast, Bahamas 30
Slide 31: RWNYC – Performance Review (1H 2015)
RWNYC – Performance Review (1H 2015) Operational Performance: Highest grossing VGM facility in Northeast US Expanded gaming capacity at RWNYC Average WPU ↑ 3% in 1H15 Market share* ↓ 2ppt to 40.0% (1H14: 42.1%) 4.1 mil visitors in 1H15 Revenue remained at US$117m Adjusted EBITDA ↑19% i
Slide 32: Bimini, Bahamas
32 BIMINI | 4 BAHAMAS RESORT -CASINO-MARINA aT)
Slide 33: Bimini – 1H 2015
Bimini – 1H 2015 Operational Performance: Revenue ↑100% in 1H15 • Overall business volume has improved since the opening of the initial phase of the new 300- room Hilton hotel Adjusted LBITDA of US$31m in 1H15 (1H14: US$32m) ~83.7k visitors to the resort in 1H15 (↑ 34%) * Opened in Jul 2013 33
Slide 34: Hilton at Resorts World Bimini
Hilton at Resorts World Bimini Total project cost USD 170 mil 300 room luxury marina hotel • 200 rooms opened in April; remaining rooms to be opened in 4Q 2015 Key features: • 2 restaurants • A lobby piano bar • A rooftop pool • A bar and nightclub / lounge • Spa and fitness centre • Meeting s
Slide 35: Malaysia
35 5 MALAYSIA
Slide 36: Prospects and Focus
Prospects and Focus General Prospects Global economy is expected to expand at a moderate pace amid diverging growth momentum across major economies Outlook for international tourism in 2015 remains positive across all regions Cautious on near term outlook for L&H industry; positive on the long
Slide 37: Prospects and Focus
Prospects and Focus Genting UK Focused on growing business and improving operational efficiencies Continues to experience volatility in the International Markets division in view of events in Asia affecting premium players segment Continues to strengthen position in the domestic business segme
Slide 38: Thank You
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 Thank You Visi
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