Resort World Sentosa (RWS)

Japan expansion, upgrade of Resorts World Sentosa keep Genting at 'buy' by RHB

SINGAPORE (Jan 16): RHB Reserch is maintaining its “buy” call on Genting Singapore with a target price of $1.23.

In a Wednesday report, RHB says, “We like Genting Singapore for its potential expansion into the Japan market and the upcoming reinvestment into Resorts World Sentosa (RWS), with more news flow expected in FY19.”

In 3Q18, the group reported a 46% increase in earnings to $210.4 million, which was resulted from its strategy to loosen the tap for VIP customers.

Genting Singapore posts 35% increase in 3Q earnings to $143.8 mil

SINGAPORE (Nov 6): Genting Singapore announced that 3Q17 earnings increased 35% to $143.8 million from $106.9 million in 3Q16.

In the third quarter ended September, the group’s revenue saw an increase of 8% to $629.9 million compared to $581.5 million a year ago, supported by a stronger VIP and premium mass business volume.

The attractions business performed well with higher average visitor spend and a 5% growth in the daily average visitorship that exceeded 21,000. Hotel business registered a solid average occupancy rate of 93%.

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