Brokers' take

Genting Singapore > Buy (maintained) OCBC Inv Research, May 10 May 10 close: S$0.935 Fair value: S$1.23

GENTING Singapore's first quarter adjusted earnings before interest, tax, depreciation and amortisation dropped 8 per cent year-on-year (yoy) to S$329.7 million or 25 per cent of our initial full-year forecast, which we consider below expectations.

Management expects VIP rolling market to be challenging this year given macroeconomic concerns stemming from the ongoing US-China trade talks and will remain cautious in extending credit for the market.