Malaysian Gaming Companies Dominate Limelight

MALAYSIA – As reported by the Malaysian Star: "Gaming stocks hogged the limelight yesterday with investors beginning to see better earnings prospects for the sector in the current financial year driven by higher consumer spending.

"Magnum Bhd was the most active stock of the day with 1.8 million shares changing hands. It closed unchanged at RM2.49.

"Resorts World Bhd was also actively traded, gaining 25 sen to RM9.70 on volume of 1.1 million shares. Genting Bhd, however, slipped 10 sen to RM16.90.

"Numbers forecast operator Berjaya Sports Toto Bhd (BToto) closed unchanged at RM3.96, while Tanjong plc rose 12 sen to RM12.60.

"Analysts said that investors could have overlooked some of the gaming stocks in the past in view of concerns over their earnings as well as intense competition from foreign operators and illegal betting operations.

"…Of concern to the Malaysian gaming sector, though, was the move by the Singapore government to allow the opening of a casino as well as the increasing number of casinos elsewhere in the region such as in Cambodia, the analyst said…"

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