Maybank IB Research retains Buy on Magnum, Berjaya Toto

KUALA LUMPUR: Maybank Investment Bank Research is retaining its Buy on numbers forecast operators (NFOs) Magnum and Berjaya Sports Toto as jackpot sales have recovered by about 78% in two and a half weeks.

The research house said on Monday NFO outlets reopened on June 17 and it quantified their jackpot sales are now at 78% of pre-Movement Control Order (MCO) levels. “We do not discount the possibility that this rapid recovery could also be reflected in Classic 4D sales. We maintain our CY20 industry gross NFO sales/draw growth of -5% YoY for now.

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