Genting Singapore (GENS)

Raising the stakes
SINGAPORE (Apr 5): Nine years ago this month, Sheldon Adelson, the ageing chairman and CEO of Las Vegas Sands, cut a yellow ribbon at precisely 3.18pm to symbolise the opening of the Marina Bay Sands (MBS) integrated resort (IR). The iconic three towers and boatlike cantilevered deck would soon come to define Singapore’s skyline. Three months earlier, in time for the Lunar New Year, ...
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 ...
Analysts mostly bullish on Genting Singapore's $4.5 bil investment for RWS 2.0 as price plunges to 3-month low on fears
SINGAPORE (Apr 4): Analysts are generally positive on Genting Singapore (GENS) following the announcement of plans to invest $4.5 billion to renew and refresh Resorts World Sentosa (RWS). In view of this investment, the government has agreed to extend the exclusivity period for the two casinos at RWS and Marina Bay Sands (MBS) to end-2030. MBS also committed to a $4.5 billion investment to ...
3 top consumer picks revealed as RHB expects sector to outperform ST Index in 2019
SINGAPORE (Jan 4): RHB Research is maintaining its “overweight” rating on the Singapore consumer sector, against the backdrop of a global economic slowdown and uncertainty arising from trade tension between the US and China. “We believe the consumer sector will outperform the [Straits Times Index], given its more defensive nature,” says analyst Juliana Cai in a Friday ...
9 undervalued stocks to watch in the MSCI Singapore Index: KGI
SINGAPORE (Dec 18): KGI Securities has highlighted nine stocks in the MSCI Singapore Index that are currently undervalued, even as they each offer a FY18 dividend yield of more than 3.5%. According to KGI, the nine stocks – ComfortDelGro Corporation, United Overseas Bank (UOB), Keppel Corporation, Singapore Technologies Engineering (ST Engineering), Singapore Exchange (SGX), Oversea-Chinese ...
Right timing: Index stays near resistance, short term cycle still upwards
SINGAPORE (Nov 9): The Straits Times Index approached its declining 50-day moving average when the moving average was at 3,141 and the index closed at 3,116 on Nov 2. However, the STI has since retreated. The 50-day moving average is currently at 3,131. Quarterly momentum has faded somewhat. It remains in negative territory, and could ease from its current level. Short term indicators continue ...
Analysts positive on Genting Singapore amid 'crisis' valuations
SINGAPORE (Nov 9): Analysts are staying positive on Genting Singapore (GENS) amid a selldown which they say is “unjustified”. Since reporting its 2Q18 results after market close on Aug 3, GENS has seen its share price plunge close to 28%. Shares in GENS closed at $1.23 on Aug 3, and closed at 89 cents on Nov 8. “In our view, GENS is unjustifiably trading at ‘crisis’ valuations of ...
Genting Singapore reports 46% rise in 3Q earnings to $210.4 mil on lower operating expenses
SINGAPORE (Nov 9): Genting Singapore reported a 46% rise in 3Q18 earnings to $210.4 million from $143.8 million a year ago on lower operating expenses. Revenue for 3Q18 rose 1% to $639.1 million from a year ago as the group’s revenue continued to grow. Genting Singapore says the attractions business of Resorts World Sentosa (RWS) achieved strong results especially Universal Studios ...
Genting Singapore kept at ‘buy’ as value emerges ahead of Japan bid
SINGAPORE (Oct 25): UOB KayHian is maintaining Genting Singapore (GENS) at “buy” given now the stock is trading at a historically low valuation and should start to significantly rerate next year as newsflow of its bid for a casino resort in Japan intensify. GENS currently trades at an attractive 5.9-6.0x 2018/19 EV/EBITDA, which is below –2SD to its mean EV/EBITDA, according to ...
Genting Singapore mid-term prospects intact even as lady luck turns shy
SINGAPORE (Aug 6): The mid-term prospects for Genting Singapore are intact as VIP credit policies are likely to remain unchanged, given the comfort level the mega resort operator has with its current portfolio of clients, says CGS-CIMB Securities is recommending an “add” with $1.44 target price. To recap, estimated 2Q18 VIP gross gaming revenue (GGR) came in 10.1% higher at $207 million ...