Valuations for Genting Singapore expected to trend up

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SINGAPORE (July 30): UOB Kay Hian is keeping its “buy” call on Genting Singapore (GENS) with a target price of S$1.38 on expectations that its valuations will trend up over time.

According to lead analyst Vincent Khoo, this will be supported by stable Singapore operations as well as GENS’s bid for Japan’s integrated resort (IR) concession as it builds up to the request for proposal (RFP) stage.

The positive note on GENS comes despite a 35% y-o-y plunge in VIP gaming volume at GENS’s casino-operator rival in Singapore, Marina Bay Sands (MBS)... (Click here to read the full story)