Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Invest Malaysia Conference 2016
41 slides from Genting Malaysia Bhd's conference presentation, April 2016
Slide 1: Corporate Presentation
No. 58019-U Corporate Presentation April 2016 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
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% 100% 100% 100% 100% 100% 100% 100% 44.9% 78% 4
Slide 5: Resorts World Genting, Malaysia
Resorts World Genting, Malaysia ………… Asia’s and World’s Leading Themed Resort by World Travel Awards in 2015 5
Slide 6: Genting UK and Resorts World Birmingham, UK
Genting UK and Resorts World Birmingham, 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, the Bahamas
Resorts World Bimini, the Bahamas ……… 750-acre luxury beachfront casino resort 8
Slide 9: The Group’s Key Properties
The Group’s Key Properties Resorts World Genting (“RWG”) Resorts World Casino New York City (“RWNYC”) A world-class integrated destination resort 8.5m visitors in FY2015 19.4m visitors in FY2015 Equipped with ~5,500 video gaming machines (“VGM”) and other leisure ~ 9,000 rooms facilities
Slide 10: Malaysia
MALAYSIA 10
Slide 11: GENM – FY 2015 Financial Performance at a Glance
GENM – FY 2015 Financial Performance at a Glance Malaysian operations • Overall higher volume of business but lower hold percentage in the premium players business • GST and Forex Impact UK operations • Higher volume of business from the Home Markets division • Lower hold percentage and lower vo
Slide 12: GENM – L&H Revenue Bridge FY2015
GENM – L&H Revenue Bridge FY2015 RM’mil 8,062 8,215 12
Slide 13: GENM – Revenue and Adjusted EBITDA
GENM – Revenue and Adjusted EBITDA Revenue by geography in FY2015: Adjusted EBITDA by geography FY20151: 1 UK reported an adjusted LBITDA of £27.9m for FY2015 13
Slide 14: GENM – Capital Management Strategy
GENM – Capital Management Strategy Dividend Net div per share of 7.10 sen in 2015 • 5-year CAGR of 3.4% FY15 dividend ↑ 9% FY15 payout ratio of 32% Share Buy Back Initiated since July 2007 To date, bought back ~269m shares for RM907m 4.52% of total issued capital 14
Slide 15: Aerial view of Resorts World Genting
Aerial view of Resorts World Genting 15
Slide 16: Malaysia L&H – Performance Review FY2015
Malaysia L&H – Performance Review FY2015 Operational Performances: Revenue growth • ↑ 4% y-o-y • 5-year CAGR of 2% Adjusted EBITDA • ↑ 4% y-o-y Adjusted EBITDA margin consistent at 35% 16
Slide 17: RWG – Operational Statistics
RWG – Operational Statistics Gaming Wins Mix FY2015 Hotel Guests’ Nationality FY2015 17
Slide 18: Artist Impression
Artist Impression 18
Slide 19: GITP – Overview
GITP – Overview A major 10-year master plan launched in December 2013 RM10.38 billion capital investment Phase 1 : RM8.11 billion • 20th Century Fox World theme park • 1,300-room First World Hotel Tower 3 • New indoor theme park • New 250-suite premium hotel • Sky Avenue lifestyle mall • New h
Slide 20: GITP – Development Plans
GITP – Development Plans 20
Slide 21: GITP Construction Progress
GITP Construction Progress Taken in 1Q 2016 ……. Hill-top development 21
Slide 22: GITP Construction Progress
GITP Construction Progress Taken in 1Q 2016 ……. Mid-hill development 22
Slide 23: UK, US and The Bahamas
QW Xxx GENTING MALAYSIA MIAMI 23
Slide 24: Genting Club Fountainpark, Lounge
Genting Club Fountainpark, Lounge 24
Slide 25: Genting UK – Performance Review FY2015
Genting UK – Performance Review FY2015 Operational Performances: Group revenue ↓ 26% • International Markets ↓ 65% • Home Markets ↑ 13% Visitors remain at 4.1m in FY15 Acquired Genting Alderney, an online gaming operator in the UK • Plans underway to streamline both land and online operations
Slide 26: Resorts World Bimini, Bahamas Bimini SuperFast, Bahamas
Resorts World Bimini, Bahamas Bimini SuperFast, Bahamas 26
Slide 27: RWNYC – Performance Review FY2015
RWNYC – Performance Review FY2015 Operational Performances: Largest grossing VGM facility in Northeast US Average Win Per Unit ↑ 2% Market share consistent at 43% in FY15 Embarked on a casino and amenities expansion plan in end-2015 8.5m visitors in FY15 (FY14: 9.1m) * New York Statewide t
Slide 28: First Light Resort and Casino
First Light Resort and Casino Located at the City of Taunton, Massachusetts GENM’s appointment* as the manager of First Light Resort & Casino is expected for a period of 7 years Development to be completed in phases; Phase 1 scheduled to open in mid-2017 Invested US$249.5 million in interest
Slide 29: First Light Resort and Casino
First Light Resort and Casino Once fully completed, the 900-room resort casino will include the following: 150,000 square feet casino with 3,000 slots, 150 gaming tables and 40 poker tables 15,000 square feet convention centre Retail and dining venues Artist Impression Source : Project First
Slide 30: Bimini
BIMINI BAHAMAS RESORT+CASINO+MARINA 30
Slide 31: RW Bimini – Performance Review FY2015
RW Bimini – Performance Review FY2015 Operational Performances: Revenue ↑100% in FY15 Adjusted LBITDA of US$63m in FY15 (FY14: US71m) ~ 151k visitors in FY15 (FY14: ~ 137k) Embarked on a comprehensive transportation improvement initiative Ceased Bimini SuperFast ferry operations 31
Slide 32: Hilton at Resorts World Bimini
Hilton at Resorts World Bimini Total project cost US$240 mil 305-room luxury marina hotel • 240 rooms opened in April; remaining rooms to be opened in mid-2016 Key features: • 2 restaurants • A lobby piano bar • A rooftop pool • A bar and nightclub / lounge • Spa and fitness centre • Meeting s
Slide 33: Malaysia
33 MALAYSIA
Slide 34: Prospects and Focus
Prospects and Focus General Prospects Global economy is expected to continue growing at a more moderate pace Overall international travel demand is expected to remain largely positive Cautious on near term outlook for L&H industry; positive on the longer term outlook Resorts World Genting Fo
Slide 35: Prospects and Focus
Prospects and Focus Genting UK Continue to focus on strengthening the Group’s position in the domestic business segment Revise marketing efforts to reinforce the International Markets business To focus on growing business volume at Resorts World Birmingham Resorts World Casino New York City
Slide 36: Genting Hong Kong Proposed 2016 Disposal Mandate
Genting Hong Kong (“GENHK”) Proposed 2016 Disposal Mandate 36
Slide 37: GENHK Proposed Disposal Mandate – Overview
GENHK Proposed Disposal Mandate – Overview On 6 April 2016, GENM announced its intention to seek the approval from its shareholders to renew the mandate to dispose of its entire stake in GENHK (16.87% or 1.4 billion shares) A shareholders’ EGM will be held Key Terms of the Proposed 2016 Disposal
Slide 38: Rationale and Proposed Utilisation of Proceeds
Rationale and Proposed Utilisation of Proceeds Rationale Non-core investment (held as “available-for-sale financial assets”) • No board seat • Monetisation provides funds to pursue investments in the leisure and hospitality industry Provides flexibility for prompt disposal actions at the right t
Slide 39: Key Events and Expected Timeline
Key Events and Expected Timeline Date Events 6 April 2016 Announcement on Proposed 2016 Disposable Mandate By 16 May 2016 Issuance of circular 30 May 2016 Last day to submit proxy form 1 June 2016 Expected EGM 1 June 2016 to Validity period of the Proposed 2016 Disposal Mandate 30 May 2017 39
Slide 40: GENHK Share Price Performance (Trailing 12M)
GENHK Share Price Performance (Trailing 12M) Post-mandate Period On SGX Closing price (6 Apr 2016) US$0.315 5D-VWAP US$0.315 Avg daily volume (last 30 days) ~1.8 million shares 52-week high / low US$0.380 / US$0.290 Source: Bloomberg 40
Slide 41: 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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