Genting SP: Resorts World Inc., an associate of Genting SP, will raise funds via a rights issue. Funds used to promote the 'Genting' and 'Resorts World' brands, expansion of Genting's customer loyalty programme and business needs...
RWI is equally owned by 5 sh/h including Genting SP. Each will pay $10m for 10m shares to maintain equal stakes at 20%. HSBC notes casinos through their premium player database, have significant scope to form JVs with gaming manufacturers to develop new machines and tables. Genting SP currently trades at 23.7X P/E. Analysts largely have Buy on the stock with TP$1.71 - $2.65.
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