Omicron Surge Unlikely to Dissuade Gambling In Malaysia
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There is a rise in the number of COVID-19 cases caused by the Omicron variant. Maybank Investment Bank Research says it is unlikely to affect gambling in Malaysia.
There were 28,000 new Omicron cases reported mid-week. The risk of serious or potentially deadly health complications from OMICON is low. Maybank has a "Buy" rating on gaming stocks in Malaysia, including Genting Malaysia and Gentings Berhad. UOB Kay Hian’s analysts Jack Goh and Vincent Khoo expect gaming earnings to rebound by the end of 2021. The revenue strength was projected to go back to pre-pandemic levels over the course of 2022 and 2023. They also believe gaming shares could go up to higher payout levels between 3.9% and 7.8%.
