“We gauge that 2020 will be a wash-out year as 1H2020 earnings will take a heavy toll from plunging hotel occupancy rates and gaming revenues before the lockdowns, and zero revenue during the temporary closures in the lockdown periods.
Genting Singapore
Price target:
UOB Kay Hian “hold” 80 cents
Slow recovery even with reopening Genting Singapore, which runs the integrated resort and casino Resorts World Sentosa (RWS), is headed for a slow recovery after shutting for two months in a “wash-out year”, according to analysts from UOB Kay Hian, who have downgraded their call on this stock to “hold” with an unchanged target price of 80 cents.
