PETALING JAYA: Genting Malaysia Bhd
’s (GenM) additional equity injection into US-based Empire Resorts Inc is expected to yield returns over the next two to three years.
In view of the equity injection, Kenanga Research said it is maintaining its earnings forecast for GenM.
“We keep our financial year 2023 (FY23) to FY24 earnings intact as GenM is essentially using its balance sheet to bolster an investment with an 89.6% economic interest.
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