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GENTING SINGAPORE PLC G13.SI Surprisingly positive vibes from MBS
- MBS results positively surprised us with VIP volume growth and stable mass market GGR.
- Positive read through for GENS. We gather that RWS may report 3Q15 EBITDA of ~SGD275m (+8% YoY, +39% QoQ).
- Even so, trim FY16/FY17 EBITDA by 2% to reflect weaker VIP operations and TP by 2% to SGD0.86. Maintain BUY call.
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