Stock Name: Genting SP
Company Name: GENTING SINGAPORE PLC
Research House: UBS
It says, RWS “dominated with a gross gaming revenue market share of 58%, or an estimated 66% lion share in market VIP rolling.”
UBS, which has a Neutral rating and $2.39 target, says a lack of mass market growth explains the modest growth in revenue/profit; “In the context of the 40% growth in VIP volumes, and the 57%/58% market share in gross gaming revenues, the sequential growth in net revenues (+6%) and EBITDA (+11%) seem modest. This is largely explained by the slight sequential decline in mass market revenues, although VIP hold was also sequentially lower.”
Company Name: GENTING SINGAPORE PLC
Research House: UBS
Genting Singapore (G13.SG) is off 3.5% at $1.91 after a lower win rate, or hold, inhibited its 4Q earnings, preventing any upside surprise from higher VIP volumes, with most analysts saying results were within expectations.
Deutsche Bank, which has a Buy rating and $2.43 target, says 4Q results were in line, with impressive 40% on-quarter growth in 4Q VIP rolling, offset by low VIP hold, which kept EBITDA within consensus.
Deutsche Bank, which has a Buy rating and $2.43 target, says 4Q results were in line, with impressive 40% on-quarter growth in 4Q VIP rolling, offset by low VIP hold, which kept EBITDA within consensus.
It says, RWS “dominated with a gross gaming revenue market share of 58%, or an estimated 66% lion share in market VIP rolling.”
UBS, which has a Neutral rating and $2.39 target, says a lack of mass market growth explains the modest growth in revenue/profit; “In the context of the 40% growth in VIP volumes, and the 57%/58% market share in gross gaming revenues, the sequential growth in net revenues (+6%) and EBITDA (+11%) seem modest. This is largely explained by the slight sequential decline in mass market revenues, although VIP hold was also sequentially lower.”
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