0729 GMT - Genting Singapore's labor cost pressure is likely to persist into 2026, given its new and likely expensive management hires, say DBS Group Research analysts in a note. While the casino operator's 3Q adjusted Ebitda gained on year, its nine-month adjusted Ebitda margin was below expectations at 35%, they say. They cut their 2025 and 2026 adjusted Ebitda margin estimates by 3% and 6%, respectively, to factor in elevated staffing costs, the time needed for renovated assets to ramp up and stiff competition--particularly in the VIP customer segment--from Singapore casino peer Marina Bay Sands. DBS maintains its hold rating and S$0.80 target on Genting Singapore, which rises 1.4% to S$0.74. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
November 07, 2025 02:29 ET (07:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Comments