Genting Singapore is anticipating the return of international visitors, as 3QFY2021 results were affected by the rise in Covid-19 cases here. 

In a Nov 10 note, RHB Group Research is maintaining “buy” on Genting Singapore, with a lowered target price of 90 cents from 92 cents previously. 

“3QFY2021 results fell below expectations as Genting Singapore’s gaming and nongaming segments were negatively affected by the rise in Covid-19 cases, which saw stricter capacity measures in place at its premises. Despite the weak results, we remain positive with Singapore’s ongoing relaxation of quarantine-free travel lanes and opening of borders. This will set the stage for a strong FY2022F recovery as foreign visitors return to its premises,” notes RHB.

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