The gaming industries in Malaysia and Singapore are witnessing a notable upswing as an increase in Chinese tourists boosts revenues. The relaxation of visa requirements and enhanced air connectivity have played a crucial role in attracting more visitors from China to both countries.
Genting Singapore reported substantial growth in its mid-year financials, with a significant rise in both revenue and adjusted EBITDA. This improvement has been largely attributed to the return of Chinese tourists, a trend which is anticipated to persist into FY24 as flight options from China expand.
Similarly, Malaysia's gaming sector, represented by Genting Malaysia, is also experiencing a positive shift. Maybank has forecasted a considerable earnings growth for Genting Malaysia in FY24. This projection is based on the expectation that the tourism recovery will continue, with visitor numbers likely to return to pre-pandemic levels.
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