casinos

Singapore casinos $9 bil expansion sparks price concern
(Apr 4): Genting Singapore and Las Vegas Sands Corp’s pledges to put $9 billion into tourist attractions in Singapore to keep their exclusive casino operating licenses was met with little enthusiasm by analysts and investors. At least six analysts downgraded Genting in the wake of the news, citing the hefty price tag for the license extension and the government’s plan to raise gambling ...
Genting Singapore a likely winner this gaming earnings season, says UOB
SINGAPORE (Jan 28): UOB Kay Hian is maintaining “overweight” on gaming with a “buy” call on Genting Singapore (GENS) at a $1.38 target price, or 10 times 2019 EV/EBITDA, on the notion that the integrated resort (IR) operator’s share price could gain momentum on its bidding for Japan’s IR concessions.   This comes as the research house expects GENS’s operational performance ...
Time to place bets on Genting Singapore as stock is now looking cheap, says RHB
SINGAPORE (Nov 16): RHB Research is maintaining its “buy” rating on Genting Singapore with a lower target price of $1.23 compared to $1.42 previously after updating DCF assumptions and rolling over the valuation base year to FY19. At the share price of 93 cents, RHB thinks the stock is undervalued as it is trading at a discount to its five-year EV/EBITDA average of 10 times. The revised ...
Billionaire developer rides Vietnam gambling trend with casino
SINGAPORE (March 22): FLC Group Joint-stock Co., co-founded by billionaire Trinh Van Quyet, has joined a growing number of foreign and local investors betting on cashing in on Vietnam’s decision to allow locals to roll the dice in casinos for the first time. FLC Faros Van Don, a unit of FLC Group, received permission from the northern provincial government of Quang Ninh to invest about US$2 ...
Singapore casinos are so 2015 as tourists go shopping instead
(Dec 12): Singapore's casinos are so 2015. After luring tourists for half a decade, they're now losing out to the mall. Shopping has overtaken gambling as the biggest earner in Singapore's tourism industry for the first time since 2012, surging 44% in the six months through June from a year ago, official data show. It's most likely thanks to first-time Chinese visitors, according to HSBC ...