SINGAPORE (Dec 6): CIMB is giving Genting Singapore (GENS) an “add” recommendation with a target price of 89 cents, while declaring Singapore’s gaming sector as “overweight”.

“GENS has done well to shift its business focus from the VIP gaming segment to the mass and premium mass segments in the face of headwinds from China’s anti-corruption drive,” notes analyst Jessalynn Chen in a Monday report.

The leisure, hospitality and integrated resorts development specialist recently embarked on a restructuring of its business. This included deploying staff from VIP to mass; removing redundancies; refreshing and upgrading its hotels and exhibits; and introducing targeted events and initiatives in attempts to draw in new crowds.

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