Genting Malaysia Bhd. · MYX:GENM
Genting Malaysia Bhd — Investor Presentation (September 2022)
33 slides from Genting Malaysia Bhd's investor presentation, September 2022
Slide 1: Corporate Presentation
Copyright © 2022 Genting Malaysia Berhad 198001004236 (58019-U). All Rights Reserved. Corporate Presentation September 2022 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 2Q22 & 1H22
FINANCIAL HIGHLIGHTS GENM 2Q22 & 1H22 % % In RM’mil 2Q22 2Q21 1H22 1H21 Change Change Revenue 2,176 818 ↑>100% 3,897 1,441 ↑>100% % of 2019 84% 31% 73% 27% Adjusted EBITDA/(LBITDA) 620 46 ↑>100% 1,034 (65) ↑>100% % of 2019 87% 6% 74% N/A Adjusted Resorts EBITDA Margin World Genting 28% 6% 27% N/A Ne
Slide 8: Financial Highlights 2Q22 vs 1Q22
FINANCIAL HIGHLIGHTS GENM 2Q22 vs 1Q22 In RM’mil 2Q22 1Q22 % Change Revenue 2,176 1,721 ↑26% % of 2019 84% 63% Adjusted EBITDA 620 414 ↑49% % of 2019 87% 61% Adjusted EBITDA Margin 28% 24% Resorts World Genting Net (Loss)/Profit (42) (148) ↑72% ▪ Improvement in financial performance mainly driven by
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 Resorts World Genting 5,922 (+13%) (+8%) 65… (+>100%) 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 1H22 * 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. The Asset Triple A Sustainable C
Slide 12: Malaysian Operations
MALAYSIAN OPERATIONS 12
Slide 13: Malaysia Leisure & Hospitality Performance 2Q22 & 1H22
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q22 & 1H22 % % In RM’mil 2Q22 2Q21 Change 1H22 1H21 Change Revenue 1,310.3 237.9 ↑>100% 2,230.3 536.9 ↑>100% % of 2019 75% 14% 61% 15% Adjusted EBITDA / (LBITDA) 459.1 (94.2) ↑>100% 722.0 (177.8) ↑>100% % of 2019 85% N/A 66% N/A Adjusted EBITDA M
Slide 14: Malaysia Leisure & Hospitality Performance 2Q22 vs 1Q22
LEISURE & HOSPITALITY MALAYSIA PERFORMANCE REVIEW IN 2Q22 vs 1Q22 In RM’mil 2Q22 1Q22 % Change Revenue 1,310.3 920.0 ↑42% % of 2019 75% 48% Adjusted EBITDA / (LBITDA) 459.1 262.9 ↑75% % of 2019 85% 47% Adjusted EBITDA Margin 35% 29% ▪ Improvement in 2Q22 financial performance driven by: ▪ Increase i
Slide 15: RWG Key Statistics – 1H22
LEISURE & HOSPITALITY MALAYSIA RWG KEY STATISTICS – 1H22 One of Asia’s leading integrated resort destinations with ~10,500 rooms* 5.3m 9.9m 82% MEMBERS VISITORS DAY-TRIPPERS (1H21: 5.1m) (1H21: 2.1m) (1H21: 87%) 0.9m 93% RM226 ROOM NIGHTS OCCUPANCY AVG ROOM RATE (1H21: 0.1m) SOLD (1H21: 63%) (1H21:
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 2Q22 & 1H22
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 2Q22 & 1H22 % % In £’mil 2Q22 2Q21 Change 1H22 1H21 Change Revenue 69.5 32.5 ↑>100% 139.7 39.6 ↑>100% % of 2019 88% 41% 89% 25% Adjusted EBITDA / (LBITDA) 14.8 2.6 ↑>100% 29.9 (6.6) ↑>100% % of 2019 >100% 31% >100% N/A Adjusted EBITDA Margin 21%
Slide 20: UK & Egypt Performance Review 2Q22 vs 1Q22
LEISURE & HOSPITALITY UK & EGYPT PERFORMANCE REVIEW IN 2Q22 vs 1Q22 In £’mil 2Q22 1Q22 % Change Revenue 69.5 70.2 ↓1% % of 2019 88% 89% Adjusted EBITDA / (LBITDA) 14.8 15.0 ↓1% % of 2019 >100% >100% Adjusted EBITDA Margin 21% 21% ▪ Group’s UK & Egypt operations maintained strong operational performa
Slide 21: Overseas Operations: US & Bahamas
OVERSEAS OPERATIONS US & BAHAMAS 21
Slide 22: US & Bahamas Performance Review 2Q22 & 1H22
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 2Q22 & 1H22 In US$’mil 2Q22 2Q21 % Change 1H22 1H21 % Change Revenue RWNYC and RW Omni 88.7 80.5 ↑10% 170.2 142.7 ↑19% RW Bimini 7.3 5.0 ↑46% 11.3 5.9 ↑92% Total 96.0 85.5 ↑12% 181.5 148.6 ↑22% % of 2019 80% 71% 90% 73% Adjusted EBITDA/(LBITDA
Slide 23: US & Bahamas Performance Review 2Q22 vs 1Q22
US & LEISURE & HOSPITALITY BAHAMAS PERFORMANCE REVIEW IN 2Q22 vs 1Q22 In US$’mil 2Q22 1Q22 % Change Revenue RWNYC and RW Omni 88.7 81.4 ↑9% RW Bimini 7.3 4.0 ↑83% Total 96.0 85.4 ↑12% % of 2019 80% 95% Adjusted EBITDA/(LBITDA) RWNYC and RW Omni 32.5 26.8 ↑21% RW Bimini (4.4) (8.2) ↑46% Total 28.1 18
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 2Q22 & 1H22
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW IN 2Q22 & 1H22 % % In US$’mil 2Q22 2Q21 Change 1H22 1H21 Change Revenue 66.3 55.6 ↑19% 121.8 97.4 ↑25% % of 2019 >100% 95% >100% 84% Adjusted EBITDA / 9.4 6.1 ↑54% 12.7 5.2 ↑>100% (LBITDA) % of 2019 >100% >100% >100% >100% Adjusted EBITDA Margin 14% 11% 10%
Slide 27: Empire Resorts Performance Review 2Q22 vs 1Q22
EMPIRE RESORTS, INC. US PERFORMANCE REVIEW IN 2Q22 vs 1Q22 In US$’mil 2Q22 1Q22 % Change Revenue 66.3 55.5 ↑19% % of 2019 >100% 98% Adjusted EBITDA / (LBITDA) 9.4 3.3 ↑>100% % of 2019 >100% N/A Adjusted EBITDA Margin 14% 6% ▪ Improvement in 2Q22 revenue and adjusted EBITDA mainly due to higher volum
Slide 28: Resorts World Hudson Valley
US RESORTS WORLD HUDSON VALLEY ▪ Development of new VGM facility, RW Hudson Valley at Orange County underway. ▪ 90,000 sq ft gaming and entertainment hub featuring: ▪ 1,300 VGMs ▪ Bar and Lounge ▪ Various F&B Offerings ▪ Targeted to open by the end of 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 ▪ Optimise yield contributions by focusing on key business segments and database marketing efforts ▪ Continued ramp up of RWG’s operations whilst capitalising on demand for integrated resort offerings ▪ Leverage existing assets
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 ▪ Focus on strategies to grow the Group’s market share in both the core and London segments ▪ Explore oppor
Slide 32: Looking Ahead: Prospects and Focus – US & Bahamas
GROUP LOOKING AHEAD OPERATIONS PROSPECTS AND FOCUS US & Bahamas ▪ Focus remains on leveraging synergies between RWNYC and Empire to reinforce strong local market exposure ▪ Drive business volumes through increased direct marketing efforts and promotions ▪ Emphasis remains on the timely completion of
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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