Genting SP

Genting SP: positive read through from Las Vegas Sands Corp strong 3Q results last night.
LVS shares were up 4% at US$47.20 after hours on the stronger-than-expected results. LVS posted a profit of US$424.9m, up from US$214.5m yoy. LVS profit surged as strong revenue in Asia drove higher margins, particularly at Marina Bay Sands.
At Sands China (1928.HK), the company's majority-owned Macau subsidiary, 3Q profit rose 42%, driven by growth in higher margin mass table and slot businesses and strong hotel, retail and convention revenue. Its profit reached US$278.3m, up from US$196.6m yoy, as revenue rose 11% to US$1.2b.
MBS in Spore saw net revenue jump 63% on robust VIP, mass gaming and slot volumes, pushing adjusted profit from the property up 71%. Cash flow at MBS was a record US$413.9m, vs US$405m in 2Q.
Technically, the stock has rebounded nicely off the $1.42 low in early Oct. Share price is now above the 50day MA and RSI and MACD indicators are still positive. The stock is a possible breakout play if it can clear the $1.70 level (which is likely). First resistance at $1.80, then $1.90 (200day MA). Support at $1.60 (50day MA).