“We estimate that the Yokohama IR will generate US$2.7 billion in net profit per annum and is worth US$5.4 billion, which translates into substantial earnings and valuation upside for Genting Singapore,” Yin aadds in a May 19 research note.
Maybank Kim Eng analyst Yin Shao Yang believes that Genting Singapore has a “good chance” of winning the license for the Yokohoma integrated resort (IR), which is current going through the request for proposal (RFP) process.
Yin says the Yokohama IR could potentially generate gross gaming revenue of US$7 billion ($9.3 billion) annually, comprising US$5.8 billion from locals and $1.2 billion from tourists.
