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Genting Bhd (BUY) - GenS Introduces Its First Integrated LCP
by hlk Fri 23 Mar 2012, 00:01
Genting Bhd (BUY)
GenS Introduces Its FirstIntegrated LCP
Resorts World Sentosa (RWS) will be launching a loyalty card programme(LCP) with a gamut of resort-wide privileges unparalleled within any singledestination in Singaporeon 1 April 2012.
With the introduction of RWS INVITES, we opined thatthis would attract more customers to the resort as they will be able to haveperks and benefits as they spend in the integrated resort (IR), especiallycustomers from the mass-market. This will hence bring more stability towardGenS's earnings when the proportion of mass-market vs. VIP customers balances.
Furthermore, we expect RWS to gain back its marketshare from Marina Bay Sands (MBS) from this programme as the increase invisitors to the IR indirectly increases the casino patronage.
No changes made to ourforecast. Maintain BUY on GenT with TP ofRM11.50.
Source: HLIB Research 22 March 2012
GenS Introduces Its FirstIntegrated LCP
Resorts World Sentosa (RWS) will be launching a loyalty card programme(LCP) with a gamut of resort-wide privileges unparalleled within any singledestination in Singaporeon 1 April 2012.
With the introduction of RWS INVITES, we opined thatthis would attract more customers to the resort as they will be able to haveperks and benefits as they spend in the integrated resort (IR), especiallycustomers from the mass-market. This will hence bring more stability towardGenS's earnings when the proportion of mass-market vs. VIP customers balances.
Furthermore, we expect RWS to gain back its marketshare from Marina Bay Sands (MBS) from this programme as the increase invisitors to the IR indirectly increases the casino patronage.
No changes made to ourforecast. Maintain BUY on GenT with TP ofRM11.50.
Source: HLIB Research 22 March 2012
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