SINGAPORE (Mar 18): CGS-CIMB Research is slashing its forecasts for Genting Singapore (GENS), after the integrated resort and casino operator issued a profit guidance to warn that its financial results are expected to be “significantly and adversely impacted” by the coronavirus outbreak.

In a report on March 18, the brokerage estimates that GENS could see a 40% year-on-year drop in mass gaming revenue this year, while the rolling chip volume for its VIP market is expected to be halved.

CGS-CIMB also forecasts a 30% drop in revenue from GENS’ non-gaming segment.

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