Genting Singapore

Genting Singapore: may rise on hopes for stronger-than-expected performance by Resorts World Sentosa following rival Las Vegas Sands' return to profitability in 2Q10 on contributions from Marina Bay Sands. LVS' earnings at US$41.8m vs US$175.9m loss a year earlier. This is a strong start as MBS is not near full ramp-up. LVS' results follow recent data from Singapore Tourism Board showing tourist arrivals to city state +27% yoy in June to 950k. CLSA rates as Outperform with $1.30 target.