Genting looking like a contrarian play

From Malaysia Insider:

Genting Singapore's bottom line has been hit by a spike in bad debt provisions, as more customers who lost the bet refuse to pay up.

From the perspective of Lim Kok Thay, the high level of provisions is just an indication that the company is prudent in the way it runs the gaming business.

“We tend to be more prudent – it is the legacy of the Genting group – we’ve always provided prudently, so that we can sleep better at night, in case a nuclear bomb falls,” says executive chairman Lim at the company’s annual general meeting on April 21.

Genting is looking like a contrarian play.  Although the industry has taken a battering, It's possible that the news has been baked in.  The CEO even predicted a "storm is coming" in the gaming industry.

I'd look for any uptick in earnings or recovering of debt.  I'll keep my eye on this. especially in the next report.