Malaysia and Singapore's gaming sectors rise thanks to Chinese tourism

12-01-24

The Malaysian and Singaporean gaming sectors are experiencing a remarkable rebound as an increase in Chinese tourists boosts revenues. Relaxed visa requirements and improved air connectivity have played a crucial role in attracting more Chinese visitors to both countries.

Genting Singapore posted substantial growth in its mid-year financial results, with both revenue and adjusted EBITDA up significantly. This improvement was largely attributed to the return of Chinese tourists, a trend that is expected to persist in FY24 as flight options from China expand.

Similarly, Malaysia's gaming sector, represented by Genting Malaysia, is also experiencing a positive turnaround. Maybank has forecast considerable profit growth for Genting Malaysia in FY24. This projection is based on the expectation that the recovery in tourism will continue, with visitor numbers likely to return to pre-pandemic levels.