Genting Singapore - Maybank Research 2023-10-11: Business As Usual; No Discernible Impact From AML Case

• Since reporting 2Q23 results in mid-Aug, Genting Singapore's share price has fallen by 13% ostensibly on concerns over the VIP market.
• Our conversations with Genting Singapore, reveal that this it is business as usual for the VIP market and the mass market continues to grow. Our estimates, BUY call and S$1.12 target price are unchanged.
• - Read this at SGinvestors.io -

No discernible impact on VIP market from anti-money laundering (AML) case

• Our conversations with investors reveal that there are fears that the Singaporean VIP market will be suppressed by VIPs avoiding casinos as investigations into the hitherto S$2.8b money laundering case is ongoing.
• - Read this at SGinvestors.io -

Migration and return of Chinese buoying mass market

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-02-21 Genting Singapore - Decent End To 2024.

Previous report by Maybank:
2024-11-08 Genting Singapore - Was Not A Great Quarter But Still Deep In Value.

Price targets by 3 other brokers at Genting Singapore Target Prices.

Listing of research reports at Genting Singapore Analyst Reports.

Relevant links:
Genting Singapore Share Price History,
Genting Singapore Announcements,
Genting Singapore Dividend Payout Dates & Corporate Actions,
Genting Singapore News