“The two major themes for the year include acceleration of foreign visitations and tourism consumption recovery following the conclusion of the pandemic. It said the casino sub-sector would be the direct beneficiary of higher inbound patronage, benefiting GenM and Genting. “The sector’s lush dividend yield of 5% to 10% also remains appealing,” the research house explained. It maintained a “buy” recommendation on GenM and Genting with target prices of RM3.50 and RM5.78 respectively. The research house said its top pick for the sector is Genting as it is strategically positioned to capitalise on the recovery momentum of Genting Singapore and GenM.

Source: The Star January 08, 2024 21:46 UTC