Malaysian investments specialist Maybank Investment Bank Berhad has reportedly predicted that gross gambling revenues for Asian casino operator Genting Singapore Limited will likely remain at least partially depressed for at least the next three years.
According to a Tuesday report from Asia Gaming Brief, the corporate financing specialist used an official filing to detail that the casino firm’s ongoing slump precipitated by the appearance of the coronavirus pandemic from late-2019 is forecast to continue until the end of 2024 owing to increased regional competition and an expected lack of gamblers from mainland China.
Recent results:
A subsidiary of Genting Malaysia Berhad, Genting Singapore Limited is responsible for the giant gambling-friendly Resorts World Sentosa development in Singapore and saw its aggregated revenues for the final six months of 2021 decline by 17% year-on-year to about $381.5 million as its associated gaming…