MBS delivered a record 4Q2025 performance. VIP rolling volume rose 61.7% y-o-y and 49.3% q-o-q in SGD terms. On mass gaming front, total volumes grew 4.0% y-o-y, with lower slot volumes offset by gains in mass table volumes. Hotel occupancy holding remains strong at 95% occupancy with a 2.7% y-o-y increase in average daily room rates to $1,268.
DBS Group Research is keeping its "hold" recommendation and 80 cents target price on Genting Singapore (GENS) for now as it continues to review the counter.
While analyst Chee Zheng Feng is upbeat that the F1 Grand Prix is packing up rooms at Resorts World Sentosa (RWS), he is mindful that competitor Marina Bay Sands (MBS) is keeping competition strong for RWS by keeping the "whales" or the big spenders.
