Tuesday, August 7, 2012
Genting SP
Genting SP: Could post 2Q EBITDA of $373m, +7.4% yoy but down 0.9% from to the previous quarter, according to the average estimate of five analysts polled by Dow Jones.
Analysts say a weaker 2Q showing reported last month by rival LVS’s Marina Bay Sands amid higher credit provisions suggests that Genting SP RWS casino too endured a tough quarter. Believe the weaker VIP rolling volume at MBS (as well as the larger provision for accounts receivable of US$40m) may not bode well for (Genting SP), Citi says, cutting 2012-2014 earnings forecasts by about 2%. MBS results also suggest that SG's gaming mass market has stagnated even as VIP growth turns sluggish.
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