Sector - Gaming
Research by RHB
Overweight (Maintained)

"Brighter Prospects In 2022; Maintain OVERWEIGHT"

Maintain OVERWEIGHT, Top Pick: Genting (GENT). The recent dip in
sector share prices due to Omicron concerns presents an opportunity for
investors to accumulate, as we do not expect the impact to be as severe as
in 2020-2021. Earnings recovery should pick up pace due to the easing of
movement restrictions once the situation stabilises. GENT is our sector pick
for its attractive 6.2x FY22F EV/EBITDA valuation, providing a cheaper
alternative for investors to position for a recovery play.

Loo Tungwye
T +603 9280 8683
E loo.tungwye@rhbgroup.com

Lee Meng Horng
T +603 9280 8866
E https://lee.meng.horng@rhbgroup.com