Singapore lift for Genting

The casino entrance of Resorts World Sentosa, Singapore. - Filepic

PETALING JAYA: Amid cautious market sentiment over fears of a global recession, shares of Genting Bhd, and its 49.5%-owned Genting Malaysia Bhd have been holding up fairly well as investors bet on an “meaningful earnings recovery” with the easing of preventive restrictions across the gaming group’s key markets.

UOB Kay Hian (UOBKH) Research said it expects the Genting Group to elevate its earnings recovery momentum in the third quarter of financial year 2022 (3Q22), leveraging on continuously strong local patronage, better international visitations and full restoration of operating capacity.