Early days yet. Genting Malaysia (GENM) has entered into a non-binding
LOI to consider developing a US$4b integrated mixed-use property on land
adjacent to Resorts World New York (RWNY). We believe that this
development will not proceed without the introduction of table games at
RWNY to justify the investment, which will likely require at least two
years to be legalised and another few years to be commercialised.
Maintain Hold on GENM and RM3.88 DCF-based TP.
Maybank research (6 January 2012)
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