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Poorer Odds
Analyst: Singapore Research Team Email: research@uobkayhian.com
Good morning, Our downgrade to SELL reflects a 'no event' year wherein there would be disappointments to hyped up expectations for legalisation and potential size of the junket market, and overseas opportunities (eg Japan). In addition, 2011 earnings could disappoint some of the loftier expectations in the market. We understand that gross gaming revenue peaked in October, and has eased thereafter in November and December. Regards Genting Singapore (GENS SP) SELL Price/Tgt: S$2.22/1.85 Mkt Cap: US$20.9b Daily Val: US$184.7m 1-Yr Hi/Lo:S$2.35/0.845
