Genting Bhd shares rose 1.2% today to close at RM4.85, driven by widespread market expectations of strong fourth-quarter earnings. The continued recovery in tourism and increased visitor numbers at its resorts are key drivers. Analysts maintain an optimistic outlook on its prospects.
Genting Bhd's shares performed strongly today, rising 1.2% to RM4.85 with significant trading volume. This surge was primarily driven by optimistic market expectations for its upcoming fourth-quarter 2023 financial results. Analysts widely anticipate a substantial increase in Genting's revenue and profitability, fueled by the ongoing global tourism recovery and higher visitor numbers and spending at its key resorts like Resorts World Genting and Resorts World Sentosa. Furthermore, robust performance from its gaming operations also provided support for the earnings. Despite facing challenges from rising operating costs, the company's efforts in cost control are also being noted. Investors hold a positive outlook on Genting's long-term growth potential, with expectations that its share price could see further upside after the earnings announcement.
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