The analysts are maintaining “overweight” on the Singapore and Malaysian gaming sectors and “market weight” on Macau gaming sectors, with Genting Singapore their top sector pick for its 2023 earnings recovery and capital management upside.
UOB Kay Hian Research analysts have maintained their “overweight” rating for the regional gaming sector as the sector’s companies stand to benefit from China’s reopening.
In their report dated Jan 6, analysts Vincent Khoo, Jack Goh and Ng Jo Yee note that most of the shares of gaming companies have rallied, with gaming stocks from Macau and Singapore rising between 14% and 39% since 3Q2022.
