Genting Sing
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While in Macau before the Chinese New Year, I have seen a big bill board of the location map of RWS at the road I was travelling to the hotel. Genting management is really putting great efforts.
gibson ( Date: 22-Feb-2010 12:00) Posted:
SINGAPORE : Restaurants and tourist
attractions at Sentosa have enjoyed a 20 per cent increase in their
business since Resorts World Sentosa opened a week ago.
Sentosa Leisure Group said it is seeing an average of 30,000 visitors each day during this Lunar New Year.
That is twice more than the daily average.
Sentosa Leisure Group added that the Merlion is its top attraction during the Lunar New Year.
It has seen a 30 per cent increase in visitors, compared to the same period last year.
And visitors to the island are also staying an average of one day as compared to half a day before.
Hotels like Rasa Sentosa Resort are also welcoming more visitors.
Rasa Sentosa is fully booked during this Lunar New Year period.
Anticipating more visitors to the island, it has decided to close for renovations for 10 months to add new rooms and facilities.
Ben
Bousnina, general manager, Rasa Sentosa Resort, said: "(Now that)
Resorts World has arrived...I do not think we will have enough rooms on
the island, because the whole world would like to come to Sentosa
Island which has become a world’s destination." — CNA/ms
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| Genting SP |
G13 |
i |
-- |
SGD |
0.965 |
|
+0.025 |
+2.7 |
99,548,000 |
5,116,000 |
0.965 |
0.970 |
9,704,000 |
SINGAPORE : Restaurants and tourist
attractions at Sentosa have enjoyed a 20 per cent increase in their
business since Resorts World Sentosa opened a week ago.
Sentosa Leisure Group said it is seeing an average of 30,000 visitors each day during this Lunar New Year.
That is twice more than the daily average.
Sentosa Leisure Group added that the Merlion is its top attraction during the Lunar New Year.
It has seen a 30 per cent increase in visitors, compared to the same period last year.
And visitors to the island are also staying an average of one day as compared to half a day before.
Hotels like Rasa Sentosa Resort are also welcoming more visitors.
Rasa Sentosa is fully booked during this Lunar New Year period.
Anticipating more visitors to the island, it has decided to close for renovations for 10 months to add new rooms and facilities.
Ben
Bousnina, general manager, Rasa Sentosa Resort, said: "(Now that)
Resorts World has arrived...I do not think we will have enough rooms on
the island, because the whole world would like to come to Sentosa
Island which has become a world’s destination." — CNA/ms
my husband say he thought that he was in clark quay....i thinkwow thatsgood... good news if like clark quay
as a big landlord, the rental income will be substantial....
be creative like SMRT to make use of spare space for retail shops for average tourists to buy souvenirs etc..
Yes, if Citi is bearish, we should be bullish. Be on opposite side.
den citi say what do the opp then???this way also not bad lei haha
Alligator ( Date: 22-Feb-2010 11:31) Posted:
| we can benefit from reading Citi reports. hahaha. last time their report on singapore property counters are so bearish that it was the near perfect time to buy, those were the good time.
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* 3 DECADES of DUE DILIGENCE since 1970s*
I can still recall when I heard the rumours about a Resort to be built in Marine Parade East Cost Park during the 1970s.
We were all anticipating its arrival but it later turned OUT DISappointingly to be NOT feasible.
The World Resorts Sentosa is NOT an Overnight decision by a handful of "Grossly OverHigh" persons whose HEADS are in the CLOUDS.
It is an Xtremely LONG PROCESS of 3 DECADES of DUE DILIGENCE carried out by all the TOP DECISION MAKERS from all relevant disciplines in SINGAPROE.
Would they be WRONG ?
Do we TRUST them and their Capability in Capacity?
Finally, in 2010, the IR Resorts are here.
They are FEASIBLE in 2010 but NOT in 1970s.
LowPenny
Joined: 28 Jan 2010
Posts: 39
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 Posted: Mon Feb 22, 2010 9:49 am Post subject: Re: genting |
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| greatguns wrote: |
...Don't know whether you are aware but gambling biz in the west is never the same as that in the east. Asians are known to be big gamblers as opposed to the West. Many high rollers in the West have their origins from the east.
e.g., if they have 8000 staff for RWS and if the revenue is not big enough, the cost of operation will "eat" into the profit. Fixed depreciation and running cost will always be there and this "fixed" cost can easily scale to cater for the maximum that the business is planned for, without incurring the same increased proportionate amount of cost to run it - increased cost is not linear with increased revenue but rather takes a low gradient plateau as revenue increases.
I don't think you got my point on UK operations. It is the wrong place to compare. 43 casinos does not mean it is a much bigger casino business than what RWS has. Sometimes more casinos can lead to losing money vs just 1 or 2 casinos. Besides, as I said, it is making some money in UK. It is the costs of setting up RWS that weighed down the profitability of this company in the last 3 years.
Finally, I don't think I am over-exaggerating. In just two days, the revenue is 40M. It is a published fact and that is more than 8% of the entire year's revenue of 2009. What with 363 days more of revenue to come. Already 128K visited the casino in the 5 days following their debut. As I kept re-iterating, it could well be about 25% of the revenue for the entire year of 2009 in the last 6 days...
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Very well said! Looks like you have some accounting background to look into the true status of the company. I love the point you raised about "fixed" cost. 
I would like to add the Resort World has brought in much life to sentosa, improving business for the island altogether. As shown in today's CNA article.
Those whos say that Genting is not viable in the long run are just trying to create panic in the market. As I reiterate, govt, with its band of analysts and economists, have already deemed that 2 casinos are viable in singapore. So have the big banks such as DBS, OCBC, Maybank, with its pool of analysts, share the same opinion. Thus becoming underwriters. Unless you are trying to say that you are smarter than all these people, you would have to agree that Genting is more than financially sound. Which biz does not go in the red? More importantly, its the potential. If you are just going to panic everytime you see losses on the reports without understanding the true nature of the biz, I am doubtful of how you assess a company's true potential.
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1038844/1/.html
Business is booming for restaurants, attractions at Sentosa
Posted: 21 February 2010 1932 hrs
SINGAPORE : Restaurants and tourist attractions at Sentosa have enjoyed a 20 per cent increase in their business since Resorts World Sentosa opened a week ago.
Sentosa Leisure Group said it is seeing an average of 30,000 visitors each day during this Lunar New Year.
That is twice more than the daily average.
Sentosa Leisure Group added that the Merlion is its top attraction during the Lunar New Year.
It has seen a 30 per cent increase in visitors, compared to the same period last year.
And visitors to the island are also staying an average of one day as compared to half a day before.
Hotels like Rasa Sentosa Resort are also welcoming more visitors.
Rasa Sentosa is fully booked during this Lunar New Year period.
Anticipating more visitors to the island, it has decided to close for renovations for 10 months to add new rooms and facilities.
Ben Bousnina, general manager, Rasa Sentosa Resort, said: "(Now that) Resorts World has arrived...I do not think we will have enough rooms on the island, because the whole world would like to come to Sentosa Island which has become a world's destination." - CNA/ms
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more buying at 96 cts.... will test new high for today..
we can benefit from reading Citi reports. hahaha. last time their report on singapore property counters are so bearish that it was the near perfect time to buy, those were the good time.
CITI probably has a loss phobia since it nearly went under itself.
Therefore wants to be kiasu a bit, so pluck a figure. We don't know the time frame of
their calls, but if you average the four calls as posted here, we get a
tp of $1.023.
Alligator ( Date: 22-Feb-2010 10:56) Posted:
Lets see what the big analysts said after results announced:
CIMB trading BUY TP 1.23
JPM overweight TP 1.20
CITI Sell TP 0.76
DB Hold TP 0.90
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Looks like pple are waiting to see Budget announcement before making big moves.
right.. esp. they look at MGM Mirage's losses..
i think CITI doesnt understand ASEAN gambling style..
CIMB call seems make more sense
smartrader ( Date: 22-Feb-2010 10:59) Posted:
| CIMB knows Genting's strengths better...... |
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buy prudently...taking care of downside and upside..haha
If a companyt makes millions of dollars a day, one must be silly not to invest in it. I am now scratching my head how should I do it.
thanks bro
smartrader ( Date: 22-Feb-2010 10:49) Posted:
pm you liao....not right to say openly...
winfully ( Date: 22-Feb-2010 10:44) Posted:
| i only have citibank. Which online trading platform? |
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