CASINO

Asian casino business given further boost

TAGs: Asia, Cotai strip, Genting Berhad, Macau, SJM Holdings

genting highlandsCasino business stocks in the gambling industry’s largest market have been given a significant boost by an investment manager. Andrew Graham, manager of Martin Currie Pacific Trust, identified the region’s industry as the best way to get into Asia’s attractive consumer market. The report, published on Investment Week, picks out SJM Holdings and Genting Bhd as two of the best bets alongside any firm choosing to open up a casino on Macau’s Cotai strip.

“Macau’s Cotai strip will be the flagship of the Asian casino industry for the foreseeable future,” said Graham, whilst stating SJM was one of their most preferable stocks.

Graham cites the report released late last year by PricewaterhouseCoopers into the gambling industry, which identified Asia as the continent that will see the most growth. Even though much praise is heaped on Macau and its Cotai strip it’s not the only part of Asia that will see expansion, Graham adding: “The opportunities in emerging Asia extend far beyond the region’s largest markets, China and India.”

He continued: “In our portfolios, we currently favour companies from the ASEAN (Association of Southeast Asian Nations) countries and South Korea.”

Genting Bhd operates in two ASEAN nations (Malaysia and Philippines) and Graham gave the former of these as to why they favor the international casino business firm’s stocks. Just imagine if he’d acknowledged their presence in the Philippines as well. Think of the casino stock load he’d have blow then!

The testimony from Graham just goes to illustrate a well-known fact in the entire gaming industry – Asia’s huge right now and it will continue to be so for some time.

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