Genting Singapore BUY Target Price $2.74 by Phillips Securities

Phillip Securities Research in a 14th Jan 2011 research report says: "Genting Singapore is an investment holding company for Resorts World Singapore (RWS). Genting principal activities include casino operations, operation and management of integrated resort, international sales and marketing services as well as IT application related services.

"With the recent divestment of Genting UK, Genting Singapore derives 98% of its revenue from RWS. We believe revenue growth to be strong in 2011 and this is likely to translate to higher earnings. Given our estimated EBITDA of $2.3 billion in 2011, the enterprise value is estimated to be $34.9 billion base on 15x EV/EBITDA.

"Our market value of equity is worth $33.5 billion thus giving rise to fair value estimate of $2.74 base on 12.2 billion shares. Fair value estimate of $2.74. BUY (initiating coverage of Genting Singapore stock). "

Sentosa and Genting Resorts World Singapore Promotion Packages for June 2011 school holidays - combinations of deluxe room, and multiple stay discounts. Full hotel review and rating by customers.