Genting Gambles on Japan
Tushar Mohata, Head of Equity Research, Nomura
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Genting Singapore Q3'16 revenue declined 8.6% y-o-y to S$581.5m as the sector reels from a decline in gaming volumes. As a result of major typhoons, the group had to divest & pare down its stake in its Jeju integrated resort in South Korea, where its construction progress was hindered as a result. However, the group is bullish of possible greenfield ventures into Japan, where lawmakers there yesterday reopened the debate on its casino bill. Tushar Mohata, Head of Equity Research, Nomura thinks the potential for Japan's gaming market could outstrip that of Singapore - as one of the last developed market to legalise casinos.
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