CityNeon: CIMB attended Avengers exhibit in Las Vegas
- Well-attended official opening of The Avengers exhibit in Las Vegas on 22 Jun.
- VHE aims to attract 1-1.5% of total visitors to Las Vegas, which is possible given its 1) strategic location, 2) focus on families, and 3) strong movie franchise appeal.
- Beneficiary of a growing “experience” economy.
- Increases FY16-18 EPS estimates by 4-21% and raise TP to S$1.09, now pegged to 15.5x CY17 P/E. Maintain Add. Near-term catalysts include winning of 3rd IP and stronger uptake of travelling sets.
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