Genting Singapore (GENS)

The odds look good for Genting in Japan

(June 10): It is no secret that gaming tycoon Lim Kok Thay believes the odds are good for Genting Singapore to be awarded a casino licence by the Japanese. His optimism stems from the Japanese government’s public pronouncement that it will employ the Singapore casino model.

More importantly, Genting Singapore is among the very few candidates in a net cash position, observes Maybank Kim Eng Holdings regional gaming analyst Samuel Yin Shao Yang.


Analysts temper optimism over Genting Singapore amid near-term headwinds

SINGAPORE (May 10): Analysts are lowering their forecasts on Genting Singapore (GENS) amid short-term pressures expected from lower gaming revenues and higher capex for the redevelopment of Resorts World Sentosa (RWS).

This comes after GENS after market close on Thursday announced a 5% drop in earnings for the 1Q19 ended March to $205.5 million, from $217.2 million a year ago.

Earnings per share (EPS) fell 6% to 1.70 cents for 1Q19, from 1.80 cents a year ago.

Total 1Q19 revenue was 5% lower at $640.4 million, led by an 8% decline in gaming revenue.

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.

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 taxes after 2022. Shares of the Singapore-based developer closed 9.4% lower in trading Thursday, for the biggest one-day drop since May 2009.

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 expand its property.

Authorities add that no other casinos will be introduced during this period.

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 report.

According to a Nielsen survey released mid-Dec 2018, consumer confidence improved to a high of 98 points in 3Q18. However, it remains in the pessimistic zone, below the baseline of 100 points.

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 Banking Corporation (OCBC), CapitaLand, Genting Singapore (GENS), and Singapore Airlines (SIA) – are trading below their 10-year price-to-earnings (P/E) and price-to-book (P/B) averages.

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.

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.

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 Singapore, S.E.A. Aquarium and Adventure Cove Waterpark.

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