Genting SP: Analysts highlights award of 2 junket licences to RWS cld potentially drive its Spore VIP rolling volumes and help lower credit risk. CLSA highlights that more may be licensed in future, and Spore's 2 casinos operators could see ‘qtrly volatility of rolling chip reduced as the junkets manage vol and flow’.
Note that entry of junkets ‘extends casino operators reach to VIP customers and opens a new mkt segment that will compete with Macau in terms of credit availability’. Added that depending on the no and quality of junkets, the junket VIP mkt could be in the billions comfortably, and therefore significantly increase the overall SG gaming mkt.
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