Core Viewpoint - UBS reports that the gaming revenue growth for Kingdom Holdings (03918) is accelerating, driven by an increase in business travelers in Phnom Penh, Cambodia, and local demand [1] Group 1: Revenue Forecasts - UBS has raised its total gaming revenue (GGR) forecasts for Kingdom Holdings for 2025-2026 by 21% to 29% due to better-than-expected performance in the first half of the year [1] - The overall gaming revenue is expected to grow by 32% this year and 10% next year [1] Group 2: Financial Projections - The EBITDA forecast for Kingdom Holdings has been increased by 46% for next year [1] - The valuation basis has been adjusted, with the target multiple raised from 5x to 7x, leading to an increase in the target price from HKD 3.8 to HKD 7.5 [1] Group 3: Rating Changes - The rating for Kingdom Holdings has been upgraded from "Neutral" to "Buy" due to the revised forecasts and valuation [1]
瑞银：一举升金界控股目标价至7.5港元 评级升至“买入”