Magnum feels the squeeze

PETALING JAYA: Gaming-based Magnum Bhd should brace for challenging times ahead as disposable incomes, especially among the working class, get squeezed by the rising cost of living amid the Government’s move to drive down subsidies, according to a research house.

PublicInvest Research told clients in a note yesterday that it had reduced its assumption for the numbers forecast operator’s (NFO) revenue per draw by 4% for the 2013-2015 financial years, and cut its net profit forecast by 8%-9%.