Optimistic outlook for Genting on tourism revival

HLIB Research said Genting’s current valuation has yet to fully reflect the recovery potential of Genting Singapore Plc and GenM, as well as the growth prospects of Resorts World Las Vegas.

PETALING JAYA: While the FBM KLCI kicked off 2024 on a positive note, advancing 2.8% year-to-date (y-t-d), buoyed by an influx of foreign buying, Genting Bhd posted a comparatively modest y-t-d return of 6%, trailing behind Genting Malaysia Bhd’s (GenM) 6.6%.

Illustrating this scenario, Hong Leong Investment Bank (HLIB) Research reckoned that Genting’s current valuation has yet to fully reflect the recovery potential of both Genting Singapore Plc (GenS) and GenM, alongside the growth prospects of Resorts World Las Vegas.