Results will determine whether 83.6% rally since gaming group’s return to profitability in 2Q10 is justified. Most analysts expect sequential decline from 2Q10’s $396.5 million net profit as rival Marina Bay Sands casino-resort expected to have grabbed some gaming market share from Resorts World Sentosa.
“With only two quarters of financial results in the bag, we hope the upcoming 3Q10 results will shed more light on a sustainable run rate for Genting Singapore,” says Credit Suisse, which has Outperform call but retains $1.68 target pending results; “4Q is typically a peak period for tourism due to year-end school holidays and festivities, and we expect Genting Singapore to be a prime beneficiary.”