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Help~~~I have keep this stock for about a year, currently i'm paper lost more than 30%....Anyone can give me some suggestion?? I really upset with this stock compare with Genting Singapore. Everyday keep dropping unless release some good news. Who know when will release Report?? Please advise me...thanks
Thank you for your clarification and explanation. I get it now.
pharoah88 ( Date: 15-Jun-2011 18:08) Posted:
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If no extension, it will be bad for MACAU
but gOOd for RWM and RWS.
If extended, no effect.
Hulumas ( Date: 15-Jun-2011 09:36) Posted:
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So, good or bad or ugly?
Macau casinos face 2020 licence expiry
Given the billions of dollars invested and the plans for the booming gaming industry, questions are being raised over the future of the concessions
Jun 13, 2011
You would not know it from the record stock prices or the number of planned resorts in the pipeline, but Macau's unprecedented gambling boom has a built-in expiration date.
Given the billions of investment dollars and lengthy construction timetables required by the Cotai-style megaresorts, analysts and investors are starting to ask the inevitable question of what happens when the first of Macau's six casino licences, or concessions, begin to expire on March 31, 2020.
Will all six be renewed? Will the government exercise its right to take over ownership of casino assets? Will operators be hit with tax increases or other new fees? Will new bidders be allowed into the market?
" The short answer is we do not know," University of Macau associate professor of law Jorge Godinho said at a gaming conference in the city last week. " These are matters that need to be considered and decided many years in advance because they involve investment plans with long-term horizons."
The implications for Macau are huge. The gaming industry is the city's largest employer, and direct taxes on gambling accounted for 82 per cent of all government revenue last year. Macau's 33 casinos booked 188.3 billion patacas in gambling revenue last year.
The 2001 law that ended Macau's gaming monopoly and the six concessions that were subsequently granted stipulate that the licences are at all times the property of the government, which retains vast powers over the licensees and their gaming-related assets in the territory.
The licences held by SJM Holdings and MGM China will expire in 2020, while those of Wynn Resorts, Melco Crown Entertainment, Galaxy Entertainment Group (SEHK: 0027) and Sands China all run until 2022.
Soaring casino revenue growth has been a bonanza for these firms and their shareholders, despite the 38-39 per cent gaming tax rate. As a result, analysts expect the government to use the licence expirations to grab a bigger piece of the pie.
" It's not going to happen anytime soon simply because the government is trying to come to its own understanding of how to handle the issue," Macquarie Securities gaming analyst Gary Pinge said. But investors have failed to fully appreciate what he terms concession renewal risk.
" I expect the government to regulate-down returns for operators," Pinge told the gaming conference.
He said this could happen through a tax increase, a large licence renewal fee, or other methods.
" All governments get greedy," said Nelson Rose, a legal consultant to the gaming industry.
Rose said the government's power over the concessionaires meant it was almost certain to impose a licence renewal fee or tax increases.
" You have this enormous power to say `Thank you for building the Venetian, it is now ours'. It always happens [when licences are up for renewal]. The only question is how bad will it be and how much [operators] can negotiate against that."
The issue of licence renewal may also have an impact on projects built before the 2020-22 deadline. Sands and Galaxy both have large parcels of empty land on Cotai that they plan to develop, while Wynn, MGM and SJM are waiting on land grants for massive sites of their own.
Bankers say that as the licence expiration date gets closer, finding long-term financing for planned projects will become complicated.
" Investors, from a debt perspective in particular, will be quite nervous about extending beyond that [expiry] date unless there is some clarity given," Goldman Sachs managing director Eric Greenberg said at the conference. " Hopefully, the government won't wait until the last minute but will rather give some sort of indications to the market so it doesn't prevent companies from doing necessary financing or refinancing or capital raising."
Casino firms have generally expressed confidence that the government will sort out the issue sooner rather than later.
" It would be a big mistake to let 2020 anxiety become a major factor," Wynn chairman Steve Wynn said last month. " That would represent mismanagement by the government, and it would be the first time I'd seen that in the nine years I've been in Macau ... I think that if there was a chance that this was going to end in 2020 or 2022, we would have been told not to build the buildings."
Galaxy last month opened a HK$15.5 billion resort on its Cotai site, two-thirds of which still remains undeveloped. " We are invited guests here," chief financial officer Bob Drake said. " We hope the Macau government will extend its invitation."
Given the billions of dollars invested and the plans for the booming gaming industry, questions are being raised over the future of the concessions
Jun 13, 2011
You would not know it from the record stock prices or the number of planned resorts in the pipeline, but Macau's unprecedented gambling boom has a built-in expiration date.
Given the billions of investment dollars and lengthy construction timetables required by the Cotai-style megaresorts, analysts and investors are starting to ask the inevitable question of what happens when the first of Macau's six casino licences, or concessions, begin to expire on March 31, 2020.
Will all six be renewed? Will the government exercise its right to take over ownership of casino assets? Will operators be hit with tax increases or other new fees? Will new bidders be allowed into the market?
" The short answer is we do not know," University of Macau associate professor of law Jorge Godinho said at a gaming conference in the city last week. " These are matters that need to be considered and decided many years in advance because they involve investment plans with long-term horizons."
The implications for Macau are huge. The gaming industry is the city's largest employer, and direct taxes on gambling accounted for 82 per cent of all government revenue last year. Macau's 33 casinos booked 188.3 billion patacas in gambling revenue last year.
The 2001 law that ended Macau's gaming monopoly and the six concessions that were subsequently granted stipulate that the licences are at all times the property of the government, which retains vast powers over the licensees and their gaming-related assets in the territory.
The licences held by SJM Holdings and MGM China will expire in 2020, while those of Wynn Resorts, Melco Crown Entertainment, Galaxy Entertainment Group (SEHK: 0027) and Sands China all run until 2022.
Soaring casino revenue growth has been a bonanza for these firms and their shareholders, despite the 38-39 per cent gaming tax rate. As a result, analysts expect the government to use the licence expirations to grab a bigger piece of the pie.
" It's not going to happen anytime soon simply because the government is trying to come to its own understanding of how to handle the issue," Macquarie Securities gaming analyst Gary Pinge said. But investors have failed to fully appreciate what he terms concession renewal risk.
" I expect the government to regulate-down returns for operators," Pinge told the gaming conference.
He said this could happen through a tax increase, a large licence renewal fee, or other methods.
" All governments get greedy," said Nelson Rose, a legal consultant to the gaming industry.
Rose said the government's power over the concessionaires meant it was almost certain to impose a licence renewal fee or tax increases.
" You have this enormous power to say `Thank you for building the Venetian, it is now ours'. It always happens [when licences are up for renewal]. The only question is how bad will it be and how much [operators] can negotiate against that."
The issue of licence renewal may also have an impact on projects built before the 2020-22 deadline. Sands and Galaxy both have large parcels of empty land on Cotai that they plan to develop, while Wynn, MGM and SJM are waiting on land grants for massive sites of their own.
Bankers say that as the licence expiration date gets closer, finding long-term financing for planned projects will become complicated.
" Investors, from a debt perspective in particular, will be quite nervous about extending beyond that [expiry] date unless there is some clarity given," Goldman Sachs managing director Eric Greenberg said at the conference. " Hopefully, the government won't wait until the last minute but will rather give some sort of indications to the market so it doesn't prevent companies from doing necessary financing or refinancing or capital raising."
Casino firms have generally expressed confidence that the government will sort out the issue sooner rather than later.
" It would be a big mistake to let 2020 anxiety become a major factor," Wynn chairman Steve Wynn said last month. " That would represent mismanagement by the government, and it would be the first time I'd seen that in the nine years I've been in Macau ... I think that if there was a chance that this was going to end in 2020 or 2022, we would have been told not to build the buildings."
Galaxy last month opened a HK$15.5 billion resort on its Cotai site, two-thirds of which still remains undeveloped. " We are invited guests here," chief financial officer Bob Drake said. " We hope the Macau government will extend its invitation."
Genting Hong Kong (GENHK SP, US$0.38, BUY, TP
US$0.54) – Genting Hong Kong’s (GENHK) share price
has retreated recently in tandem with that of Genting
Singapore. Though the share prices of both have
been highly correlated, we believe GENHK offers a
different growth profile and should be looked at
independently. The fall in share price puts the stock
in an attractive position and presents a good buying
opportunity. Reiterate BUY with target price
unchanged at US$0.54.
Wise man says we shall follow okay!
iPunter ( Date: 11-Jun-2011 16:29) Posted:
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One should not say the market is cruel,
sickening, bad, not guai, etc, etc.
The market is a neutral thing which
goes up and down all the time, ad infinitum...
smallRole ( Date: 10-Jun-2011 17:06) Posted:
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Needs some correction in price before getting more strong buying interest!
smallRole ( Date: 10-Jun-2011 17:06) Posted:
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What a cruel & scary dropping for GentHk..
Drop 0.005 sen or 0.01 every single trading day from Mid April untill today..
Isz possible it will stop bleeding on Mid June and do a reversal?
Far away for the rebound signal at the moment..
Does Mr. Market think so?
Tangwp ( Date: 08-Jun-2011 16:38) Posted:
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Isn't GHK oversold?
Thank you for your information!
smallRole ( Date: 07-Jun-2011 15:36) Posted:
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21 Dec 2012...
Will it be in 2012?
smallRole ( Date: 06-Jun-2011 12:05) Posted:
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Any news from Genting Hk going to announce? how much is the resistance & support now???
When will the GentHK rocket up?
This afternoon after 4pm?
All of the info is from my broker, i m not sure also. Seen u r more expert than me.... i still need u guide me to BRIGHT WAY~~~
Tangwp, Basic TA theory i learnt so far..
Unable to comments ...
How's urs? 0.385 will be the next Support?
Please advise.
Worst... The next might be 0.385??