Macau Stocks Oversold; Buy on Sustaining Gaming Demand
Casino stocks are being penalized by the unfavorable year-over-year comparisons driven by the VIP room win rates since May. Sands China Ltd (1928...
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Wynn (1128 HK): Solid Revenue Momentum in Macau
Improving asset turnover, good gross profit return, and low correlation with Western stock markets relative to its sector Wynn is the...
486 Views
Heiwa Corp: FY 2019 Guidance Too Optimistic?
Heiwa has two business units; gaming and golf course management business. The Gaming segment builds pachinko and pachislot machines that have been...
264 Views
NagaCorp: Very High Capex Intensity Another Red Flag After a Corporate Governance Debacle
Nagacorp Ltd (3918 HK), a gaming operator in Cambodia, has a profitable operation despite a niche location. However, we have a big reservation...
541 Views
Genting Berhad: Attractively Valued on 5-Yr NAV Discount History
Our stub valuation method reveals that Genting Bhd (GENT MK) attractively trades at (near) 2 SD below its 5-yr mean of NAV discount (see Chart...
340 Views