Gaming  [ PDF ] What’s in the cards? OVERWEIGHT - Maintained - by Wei Wern LOKE

Three key themes are expected to hog the gaming spotlight in 2012 1) Genting Group’s overseas ventures, 2) the two Singapore integrated resorts’ ongoing battle for market share and its implications for Resorts World Genting, and 3) political risk from the general election. Easing concerns over the eurozone debt crisis and the return of risk appetite augur well for cyclical stocks such as gaming. We remain Overweight on the sector but switch our top pick to Genting Bhd as we downgrade Genting Malaysia to Neutral.