Cambodia’s growing attraction as a tourism and casino hub could pose a real challenge to Malaysia’s gaming giant Genting Malaysia Bhd, said JPMorgan Securities (M) Sdn Bhd.
In a recent note, the international investment bank noted Malaysia is expected to lose its position as the third-largest gaming market in South Asia to Cambodia this year.
“We think this shift accelerates with regional property ramp-up at a time when Genting Malaysia looks to cut promotional spending, driving visitation away from its property. Reiterate ‘Underweight’ on Genting Malaysia,” it said.
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