Singapore Stock Market News

Genting Singapore - The last potentially great gaming market opens up

StockFanatic
Publish date: Mon, 23 Jul 2018, 12:05 PM
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Maintain BUY call and SGD1.46 TP
Japan has liberalised its casino industry. Many issues have yet to be finalised but we opine that GENS stands a good chance to win a license thanks to its responsible gaming experience and solid net cash position. Pundits estimate that Japanese gross gaming revenue (GGR) could be between USD6b-USD40b p.a. (2017 Singapore: USD4.6b). Our estimates, BUY call and SGD1.46 TP based on 12x FY18 EV/EBITDA, in-line with the 9-year 12M forward EV/EBITDA mean, are unchanged for now. Read More
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