07 Feb '11, 10pm
Genting S'pore: The house expects the casino resorts operator to report a modest rise in EBITDA margin in 4Q to
UBS keeps its rating with an unchanged $2.39 target price. The house expects the casino resorts operator to report a modest rise in EBITDA margin in 4Q to 50 per cent vs 47 per cent in 3Q. UBS notes both Genting, which runs Resorts World Sentosa, and rival Marina Bay Sands were affected by a slowdown in VIP customer volumes in November and December, though Genting was relatively stable quarter on quarter. The house says: "The next step-change in market size requires deeper and wider access into the VIP/premium mass segments in China."