Singapore's Gaming Sector Set to Gain From Tourism Recovery -- Market Talk

Dow Jones04-22

0224 GMT - Singapore's gaming sector outlook appears upbeat this year on several positive catalysts, UOB Kay Hian analyst Jack Goh says in a note. These include increasing tourism momentum, "plenty of mega entertainment events in the pipeline, and a sustained trend of higher spending per capita" in the city-state, he says. Marina Bay Sands, owned by Las Vegas Sands, saw record 1Q earnings supported by higher tourist arrivals and spending, driven by major entertainment events such as Taylor Swift's concerts in March, Goh says. He expects Genting Singapore to "follow in MBS' footsteps" and rake in higher tourist arrivals and spending in 1Q. UOB KH maintains a buy on Genting Singapore with a target price of S$1.25. Its shares last at S$0.93.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

April 21, 2024 22:24 ET (02:24 GMT)

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Marina Bay Sands, owned by Las Vegas Sands, saw record 1Q earnings supported by higher tourist arrivals and spending, driven by major entertainment events such as Taylor Swift's concerts in March, Goh says. He expects Genting Singapore to \"follow in MBS' footsteps\" and rake in higher tourist arrivals and spending in 1Q. UOB KH maintains a buy on Genting Singapore with a target price of S$1.25. 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These include increasing tourism momentum, \"plenty of mega entertainment events in the pipeline, and a sustained trend of higher spending per capita\" in the city-state, he says. Marina Bay Sands, owned by Las Vegas Sands, saw record 1Q earnings supported by higher tourist arrivals and spending, driven by major entertainment events such as Taylor Swift's concerts in March, Goh says. He expects Genting Singapore to \"follow in MBS' footsteps\" and rake in higher tourist arrivals and spending in 1Q. UOB KH maintains a buy on Genting Singapore with a target price of S$1.25. 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