Despite the opening of the second casino, the crowd at Resorts World Sentosa seems usual. There was no sudden drop.
Let us read this Reuters report.
As such, the benchmark Straits Times Index was 0.56 per cent higher as of 0310 GMT today.
Shares of Genting Singapore rose as much as 9.2 per cent to 94.5 Singapore cents, two days after rival operator Las Vegas Sands opened the city-state’s second casino.
“Some people have observed that for the past couple of days, the crowd at Genting was still brisk,” a trader with a local brokerage said.
CIMB also upgraded Genting Singapore to “outperform” and maintained its target price of S$1.23.
“We believe that both properties have different propositions, reaching out to different market segments,” CIMB said in a report.
“RWS (Resorts World at Sentosa) will appeal to the family-oriented gamblers while MBS (Marina Bay Sands), with its extensive retail and MICE facilities and CBD location, is well position to capture a slice of business travellers”.
Around 0310 GMT, Genting Singapore was up 8.1 per cent at 93.5 Singapore cents with over 213 million shares changing hands.
