Maybank lowers target price for Genting Singapore on VTL conditions, competition

Singapore

GENTING Singapore will likely post another year of flattish earnings amid a reduction in new land vaccinated travel lane (VTL) travellers between Singapore and Malaysia, as well as competition for premium mass gamblers from foreign peers, Maybank said.

In a research note on Monday (Jan 17), analyst Yin Shao Yang lowered the brokerage's target price for the integrated resorts operator to S$0.83 from S$0.86, after he cut core net profit estimates by 72 per cent in FY2022 and 54 per cent in FY2023.