2013 to be more exciting than 2012. Genting Malaysia's (GENM) existing
operations remain resilient. Although its potential expansions into the
USA are exciting to the tune of billions of USD in terms of gross gaming
revenue (GGR) (please see pages 2 and 3), they are unlikely to
materialise until 2013 at earliest. Its potential expansion into Vietnam
is more likely to materialise sooner but is unlikely to significantly
boost its earnings. Maintain Hold call and ex-cash DCF-based TP of
RM4.00.
Click here for full report
Source: Maybank Research - 17 April 2012
No comments:
Post a Comment