Genting Singapore to Gain From Special Economic Zone -- Market Talk

Dow Jones04-17

0826 GMT - Genting Singapore looks set to win big from the expected boost of gaming tourism sparked by the establishing of a special economic zone in Singapore and Malaysia, Maybank IB analyst Yin Shao Yang says in a report. The Johor-Singapore zone is expected to bring in more visitors to casinos, boding well for the resort operator especially if its establishment eases the traffic congestion between Malaysia's Johor state and Singapore, he notes. Bringing in more mass-market gamblers is important as this segment yields higher Ebitda margins of 40%-50% compared to the VIP market at 10%-20%, he notes. Maybank has a buy rating on the stock with a target price of S$1.16. Shares are 1.1% higher at S$0.92.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

April 17, 2024 04:27 ET (08:27 GMT)

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Bringing in more mass-market gamblers is important as this segment yields higher Ebitda margins of 40%-50% compared to the VIP market at 10%-20%, he notes. Maybank has a buy rating on the stock with a target price of S$1.16. 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