Even after adjusting for a normalised luck factor, the period’s adjusted ebitda would be around $792 million, or 69% of the analysts estimates — still missing their projections.
DBS Group Research analysts Jason Sum and Paul Yong have maintained “buy” on Genting Singapore (SGX:G13
) after its 3QFY2024 ended September results, which fell short of expectations.
Genting Singapore’s 9MFY2024 adjusted ebitda of $735 million accounts for 64% of DBS’s FY2024 estimates. The analysts believe the significant decline was primarily due to operating deleverage, resulting from lower VIP gaming revenue.
