Bursa Malaysia Stock Watch
Genting Bhd (BUY) - Junket Programmes In RWS
kltrader
Publish date: Fri, 23 Mar 2012, 10:09 AM
kltrader
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Genting Bhd (BUY)
Junket Programmes In RWS
- According to Business Times Singapore, Casino Regulatory Authority (CRA)has awarded junket licenses to two Malaysians operators to allow casinooperators to extend their international reach.
- The CRA is still evaluating other applications and isin the midst of conducting probity checks. It has rejected twelve applicationsso far.
- With this official permits, these two Malaysianoperators will now be allowed to bring in high rollers to the casinos in RWSfor a commission. However, they are only allowed to bring in foreigners and notallowed to target the local community.
- We expect GenS to be able to experience betterearnings growth going forward with the help of the recently-approved junketlicenses as it will bring in more customers into the casino, especially fromthe VIP segment, hence bring up its market share. MBS still does not haveaccess to licensed junkets.
- No changes made to our forecast. Maintain BUYwith TP of RM11.50.
Source: HLIB Research 23 March 2012
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