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PETALING JAYA: A tax hike may be in the offing for the gaming sector in the upcoming Budget 2014, especially as the Government is hoping to reduce the country’s budget deficit, according to RHB Research.
PETALING JAYA: The gaming sector has been upgraded to an Overweight from Market Weight previously, as UOB KayHian Research expects casino duty for the VIP segment to be raised to 20% of gross gaming revenue, lower than the initially expected 35%.
PETALING JAYA: The relatively unexciting growth rate and possible pressure on margins due the implementation of the Goods and Services Tax (GST) are among the reasons for analysts to take a “neutral” view on the gaming sector.
PETALING JAYA: The gaming sector is expected to benefit from a recovery in consumer sentiment, following the reduction of goods and services tax (GST) rate to 0%, reintroduction of petrol subsidy and the promise of a minimum wage increase to address the higher cost of living.
PETALING JAYA: Potential structural adjustments, coupled with a lack of positive near-term catalysts, have dampened the local gaming sector, although it would remain a stable dividend play.
Kenanga Research is keeping the gaming sector on Overweight, and has given the Outperform call on all the gaming stocks under its coverage, saying it does not expect changes in gaming tax in the upcoming budget.
KUALA LUMPUR: S&P Global Ratings is positive on the proposed expansion of the Naga3 integrated gaming development project is a win for NagaCorp Ltd, which is controlled by Tan Sri Chen Lip Keong.