Genting Malaysia Bhd. · MYX:GENM

Genting Malaysia Bhd — CLSA Investors' Forum 2012 Hong Kong

31 slides from Genting Malaysia Bhd's conference presentation, September 2012

  1. Slide 1: Corporate Presentation CLSA IF2012 – HK

    Corporate Presentation CLSA IF2012 – HK Sept 2012 1

  2. Slide 2: Agenda

    Agenda  Introduction  Financial Highlights  Malaysian Operations – Resorts World Genting  Overseas Operations – United Kingdom – United States  Looking Ahead 2

  3. Slide 3: Malaysia

    ryereayvalnnernam MALAYSIA

  4. Slide 4: Overview

    Overview  Market capitalisation of approx. RM21 billion (USD6.7 billion)  Listed on the Malaysian Stock Exchange (Bursa Malaysia)  A component company of the KL Composite Index  Three gaming operations  Resorts World Genting  Genting Casinos United Kingdom  Resorts World Casino New York City

  5. Slide 5: Overview (cont’) – Resorts World Genting

    Overview (cont’) Resorts World Genting – A leading integrated leisure & entertainment resort  Over 20 million visitors in 2011 (2010: 19.9 million visitors)  Over 14,000 employees  Over 3.3 million Genting loyalty card members  More than 9,000 rooms at the Resorts World Genting  Adjusted EBITDA

  6. Slide 6: Overview (cont’) – Genting UK

    Overview (cont’) Genting Casinos United Kingdom (“Genting UK”) – One of the largest casino operator in the UK  More than 3.7 million visitors in 2011 (2010: 3.4 million visitors)  Operates 43 casinos and a poker club  Over 3,000 employees  Adjusted EBITDA of £33 million in 2011 (2010: £19 millio

  7. Slide 7: Overview (cont’) – RWNYC

    Overview (cont’) Resorts World Casino New York City (“RWNYC”) – New York’s leading video lottery gaming facility  Over 5 million visitors in 1H2012  Equipped with 5,000 gaming machines and other leisure facilities  Over 1,500 employees  Opened on 28 Oct 2011  Adjusted EBITDA of USD33.3 million

  8. Slide 8: Corporate Structure – Leisure & Hospitality

    Corporate Structure – Leisure & Hospitality Genting Berhad Berhad 49.4% Leisure, hospitality, Others entertainment and gaming 18.4% 100% 100% 100% 100% 50% 100% 50% 8

  9. Slide 9: Financial Highlights

    ltiiets| iis ibe Financial righligihts MALAYSIA

  10. Slide 10: Financial Performance at a Glance – FY2011

    Financial Performance at a Glance – FY2011 2011 2010 US & In RM 'million Malaysia UK (1) Total Others Revenue 5,490 1,156 1,847 8,493 5,333 ↑ 59%  Resilient Malaysian operations • EBITDA margins – consistent Adjusted • Higher VIP hold % 2,135 161 34 2,330 2,024 ↑ 15% EBITDA Adjusted  Full year con

  11. Slide 11: Financial Performance at a Glance – 1H2012

    Financial Performance at a Glance – 1H2012 1H12 1H11 US & In RM 'million Malaysia UK Total Total Others  Higher revenue from Malaysia Revenue (1) 2,745 818 460 4,023 3,847 ↑ 5% operations • Higher volume of business, Adjusted offset by lower VIP hold % 1,039 159 82 1,280 1,157 ↑ 11% EBITDA (2) Adju

  12. Slide 12: Revenue and Adjusted EBITDA - FY07 to FY11

    Revenue and Adjusted EBITDA - FY07 to FY11 Review of Performance  Revenue growth: ↑27% y-o-y (2011 vs 2010) to RM6,752 million (5-year CAGR: 12%)  Adjusted EBITDA growth : ↑14% y-o-y (2011 vs 2010) to RM2,317 million (5-year CAGR: 7%) ……….… Overseas operations to contribute further 12

  13. Slide 13: Capital Management Strategy

    Capital Management Strategy Dividend  Dividend growth: ↑8% in 2011 (5-year CAGR: 8%)  Dividend payout ratio (over adjusted earnings) of 25%  2012 Interim dividend: 2.85 sen (2011: 2.85 sen) Share Buy Back  Initiated since July 2007  To date, bought back 265m shares for RM890m  4.47% of total i

  14. Slide 14: Aerial view of Resorts World Genting

    Aerial view of Resorts World Genting 14

  15. Slide 15: Resorts World Genting – Performance Review

    Resorts World Genting – Performance Review Resilient Malaysian operations:  Revenue growth ↑7% y-o-y (2011 vs 2010) despite regional competition:  Volume of business ↑  Average spend per visitor ↑  5-year CAGR : 6%  Adjusted EBITDA ↑6% y-o-y (2011 vs 2010):  Margins consistent  Managing opera

  16. Slide 16: Global Peer Comparison

    Global Peer Comparison EBITDA margins by Property for 1H2012 Source: Respective company reports …..… Amongst the highest property EBITDA margins 16

  17. Slide 17: Resorts World Genting - Consistently High Occupancy Rates

    Resorts World Genting - Consistently High Occupancy Rates  2.7 million room nights sold in FY11 - Bus Program underpinned weekday occupancy  Card members took up 73% in FY11 of room sold (FY10: 69%)  Malaysians took over 63% of rooms sold  Day trippers in excess of 70% of total visitors ……. Cons

  18. Slide 18: Regional competition

    Regional competition Segment Resorts World Genting’s resilience  A strong 65% revenue mix for mass market business  Strong domestic support Mass  Locals form bulk of our 20m+ visitors Market  Over 3.3m loyalty card members  Competitive room rates, F&B and Theme Park prices … providing great val

  19. Slide 19: 19

    19

  20. Slide 20: Genting Club Riverlights

    GENTING UNITED KINGDOM —_—]i i) _' _E' 3). "9. >_> _~ Genting Club Riverlights

  21. Slide 21: Genting UK performance – FY2011

    Genting UK performance – FY2011  One of the leading casino operators in UK in terms of number of casinos (43 casinos and a poker club)  Visitors ↑ 9% - 3.75m (2011) vs 3.43m (2010) – London ↑ 11.2% – Provincial ↑ 9.1% Revenue Split (FY11) ……. Strong revenue and profit growth 21

  22. Slide 22: Genting UK performance – 1H2012

    Genting UK performance – 1H2012  Visitors ↑ 6.1% - 1.92m (1H12) vs 1.81m (1H11) – London ↑ 10.2% – Provincial ↑ 5.6% Revenue Split (1H12) ……. Strong contributions from London casinos 22

  23. Slide 23: Resorts World At The NEC (“RWNEC”) - Background

    Resorts World At The NEC (“RWNEC”) - Background  Awarded a large casino licence in July 2011 to develop a leisure and entertainment complex at the National Exhibition Centre (“NEC”) in Birmingham, England  RWNEC is expected to be operational by mid 2015  Investment commitment circ. £140 million C

  24. Slide 24: RWNEC – Strategic Proximity

    RWNEC – Strategic Proximity  15 minutes to airport  10 minutes to train station  Access to 5 motorways 24

  25. Slide 25: New York

    25 NEW YORK

  26. Slide 26: RWNYC – Encouraging Performance

    RWNYC – Encouraging Performance  Since Jan 2012, the average win per unit per day (“WPU”) is above USD370.  RWNYC’s WPU is more than 20% higher than NY Statewide WPU  Visitors > 5 million in 1H2012 Source: NYLA Yonkers is the nearest competitor to RWNYC in the state of New York. NY Statewide Net

  27. Slide 27: OMNI Center

    OMNI Center Location Overview – Downtown Miami, Florida 28

  28. Slide 28: Investment in Miami – Overview

    Investment in Miami – Overview MIAMI  Assembled a contiguous 30-acres prime freehold waterfront site in downtown Miami to date, including Miami Herald and OMNI Center (Total investment cost = USD442 mil)  Master plan for Resorts World Miami being developed  OMNI Center – Performance in 1H2012  P

  29. Slide 29: Genting Malaysia

    30 C19) GENTING MALAYSIA

  30. Slide 30: Prospects and Focus

    Prospects and Focus Resorts World Genting  Yield management strategies remain a key focus  Intensified efforts to tap further on regional VIP market  Property refurbishment programme  Grow the customer database Genting UK  Reposition provincial properties with a more leisure-centric concept  L

  31. Slide 31: Thank You

    Thank You Visit us at www.gentingmalaysia.com 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 director

Genting Malaysia Berhad — CLSA Investors' Forum 2012 Hong Kong on 6ix