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After a tough run, Genting Singapore’s earnings look set to recover

Michelle Zhu
Michelle Zhu11/7/2016 11:10 AM GMT+08  • 2 min read
After a tough run, Genting Singapore’s earnings look set to recover
SINGAPORE (Nov 4): DBS Vickers Securities is reiterating its “buy” call on Genting Singapore (GENS) with an unchanged target price of 91 cents, with a view that the resorts and casino operator is closing in on a recovery of earnings in FY17.
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SINGAPORE (Nov 4): DBS Vickers Securities is reiterating its “buy” call on Genting Singapore (GENS) with an unchanged target price of 91 cents, with a view that the resorts and casino operator is closing in on a recovery of earnings in FY17.

(See also: Genting Singapore’s 3Q earnings more than quadruple to $107 mil)

In a Thursday report, analyst Mervyn Song says he expects VIP volumes to go up as volumes bottom out this year, VIP win rate to normalise to a theoretical 2.85%. Song also expects the easing of bad debts, given GENS’ “more selective and conservative credit policy” over the past year.

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