Genting Malaysia to focus on mass premium market. [Newspaper] (2019)
Abstract
Maintain buy with an unchanged target price (TP) of RM3.90: Post Budget 2020 announcement, we believe sentiment on Genting Malaysia Bhd (GenM) should recover, especially as concerns about potential gaming tax hikes have now been lifted. Empire Resorts expects to be earnings before interest, taxes, depreciation and amortisation (Ebitda)-positive by financial year 2020 (FY20), ahead of the street/our estimates. We have not imputed further earnings growth potential from legalisation of online sports betting. Attention instead should be given to Resorts World Genting (RWG), in anticipation of Visit Malaysia Year 2020 (VMY2020) and the opening of its outdoor theme park, possibly by the third quarter of 2020 if not earlier.
| Item Type: | Newspaper |
|---|---|
| Keywords: | Business strategy, Revenue Growth, Return on Investment (ROI) |
| Taxonomy: | By Subject > Business & Management > Finance |
| Local Content Hub: | Subjects > Business & Management |
| Depositing User: | Normah Sadaiee |
| Date Deposited: | 28 Jun 2021 23:59 |
| Last Modified: | 29 Jun 2021 00:54 |
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