gaming

Genting Singapore's outlook unmarred by slight earnings disappointment, according to analysts
SINGAPORE (Feb 22): Maybank Kim Eng, OCBC Investment Research, RHB Research and CGS-CIMB Research are maintaining their “buy” calls on Genting Singapore (GENS) with the respective target prices of $1.26, $1.31, $1.22 and $1.28.   This comes after GENS’s latest set of FY18 financials fell slightly short of, or came in at the lower-end of the first three research houses’ ...
Genting Singapore sees 4Q earnings rise 12% to $150 mil on higher visitors, hotel occupancy
SINGAPORE (Feb 21): Genting Singapore (GENS) announced earnings of $150.2 million for the 4Q ended Dec 2018, rising 12% y-o-y from its earnings of $134 million in 4Q17 due to higher revenue. This brings the group’s earnings for the full year to $755.4 million, up 10% from $685.6 million in the previous year. Revenue for the latest quarter under review grew 15% on-year on the back of ...
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 ...
Singapore's 139-year-old telecom has plans for millennials
SINGAPORE (July 11): Singapore Telecommunications was around back when the telegraph was still cool. Now the 139-year-old company is experimenting with video games as a way to raise its profile with millennials. The telecom giant yesterday announced it plans to start a competitive gaming league this year and will eventually sponsor its own team. Esports may already be big business in ...
MGM opens new US$3.4 bil resort in Macau
HONG KONG (Feb 13): MGM Resorts International’s debut of its US$3.4 billion ($4.5 billion) property Tuesday is the latest bet on the world’s biggest casino hub, as licensing bids and China’s proposal to allow gambling on a nearby island cast uncertainties over Macau’s future. MGM is among the last of the operators to develop on the family-friendly Cotai strip, following Wynn Resorts ...
Fitch betting on a good year for gaming in 2018
SINGAPORE (Dec 12): Fitch Ratings expects gaming operators and suppliers to see moderate growth globally in 2018 on the back of sound economic outlook across global gaming markets. “More broadly, the regulatory and new supply risks are relatively benign in the mature gaming industry,” Fitch says in its 2018 outlook report on global gaming. The credit rating agency is assigning a ...
MGM Resorts bets on wealthier masses to catch up in Macau
HONG KONG (Aug 15): MGM Resorts International is counting on a growing number of affluent Chinese customers to drive revenue at its new Macau property, as it strives to catch up with an industry rebound in the enclave. The Las Vegas-based company’s US$3.3 billion resort on the Cotai strip, its second property in Macau that is scheduled to open in the fourth quarter, aims to cater more ...
Las Vegas Sands reports 37% earnings growth in 2Q, announces record quarter for MBS
SINGAPORE (July 27): Las Vegas Sands has announced earnings of US$576 million ($781 million) for the 2Q17 ended June, representing a 36.8% increase, or 73 US cent per diluted share, compared to US$421 million or 53 US cent per diluted share in the same quarter a year ago. Group revenue for the quarter grew 18.6% to US$3.14 billion from US$2.65 billion a year ago. On a GAAP basis (accounting ...
China's message to Asia's casinos: Place your bets elsewhere
(June 27): China just sent a clear message to casinos sprouting across Asia: don’t peddle your baccarat here. A Shanghai court on Monday convicted 19 Crown Resorts current and former staff of illegally promoting gambling on the mainland, handing out prison sentences of as long as 10 months. While they could have faced a maximum of three years under Chinese law, there was no escaping ...