Genting Sing Last:0.74 -

Genting SP Next Move

GOOD ANALYSTS VIEW !!! HOW TO JUMP OVER THAT HOLE BY THIS COMING WEEK ???

02-Jul-2010 10:16

Genting SP / GenSp starts to move up again

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UK Divestment is "shOrt-Term PRO"

but "lOng-Term CON" ACTiON

fOr GENTiNG SiNGAPORE sharehOlders

BLACK HOLE in GENTiNG UK already RESET

WiTH CASH frOm GENTiNG SiNGAPORE.

Actually GENTiNG UK is ready fOr recOvery when

UK ecOnOmy recOvers.

GENTiNG WORLD already registered GENTiNG UK entity

AWAiTiNG the RiGHT TiMiNG fOr this TRANSFER.

GENTiNG UK WiLL be iMMEDiATELY PROFiTABLE

when UK ecOnOmy recOvers.

By THEN, GENTiNG SiNGAPORE sharehOlders WiLL

have nO share Of GENTiNG UK prOfits.

FOr the iMMEDiATE TERM, GENTiNG SiNGAPORE sharehOlders are HAPPY tO get RiD Of GENTiNG UK even thOugh SACRiFiCiNG their fUtUre share Of GENTiNG UK's recOvery prOfits.

As lOng as bOth GENTiNG SiNGAPORE sharehOlders and GENTiNG WORLD sharehOlders are bOth HAPPY HAPPY , it is a WiN WiN sOluTiOn fOr bOth.

This is TRUE STREET-SMART METRiTOCRACY

Company operation it look funny...

Juz_Invest ( Date: 12-Aug-2010 14:03) Posted:

Genting wins NY casino bid

Genting is reportedly offering the state an upfront fee of US$380 million (S$518.6 million), more than the US$300 million minimum required in the request for proposals.

GENTING NY, a subsidiary of Asian gaming giant Genting Malaysia, has clinched a 30-year franchise for the Aqueduct racetrack in Ozone Park, New York.

The bid, awarded by the New York Lottery Division on Aug 3, comes after a nine-year wait which has seen many bidders losing out.

But the Genting deal is not fully in the bag yet as New York governor David Paterson and legislative leaders senate conference leader John Sampson and assembly speaker Sheldon Silver must still approve the Lottery's choice.

The New York Leader/Observer newspaper quoted the governor as having said publicly that he will go along with the Lottery's decision.

There are also several steps remaining before construction can actually begin.

'After the governor and legislative leaders sign the MOU (memorandum of understanding), the contract goes to the attorney general's office for approval,' Lottery spokesperson Jennifer Givner said. 'Then it goes to the comptroller for approval and filing in his office. Under state Finance Law, a contract isn't binding on the state unless the comptroller approves and files it.'

This process could take up to several weeks.

Genting is reportedly offering the state an upfront fee of US$380 million (S$518.6 million), more than the US$300 million minimum required in the request for proposals, said the NY Leader/Observer report.

Genting NY was the last bidder after the Lottery disqualified then two others in the running, SL Green/Hard Rock/Clairvest and Penn National, saying that they 'did not conform with the requirements of the competition'.

.........

On 1st July Genting Singapore: Selling off UK operations

Summary: Genting Singapore (GS) has entered into a conditional sale and purchase agreement to divest its entire UK casino operations for £340m (or S$688.8m). If the proposed divestment is completed, GS will receive net proceeds of ~S$688.8m and will book an excess over book value of around S$103.6m. However, it will also recognize a non-cash exchange translation loss of ~S$338.8m. But we are not overly concerned as we view the sale as an exceptional item; we also agree with management’s intention to focus its energy on RWS and also opportunities in the region, as gaming here is still likely to experience good growth prospects. Assuming the deal is completed, we expect it to reduce our FY10 sales estimate by 24% but increase our net profit estimate by 13% as margins would improve ex-UK operations. As we also believe that GS is likely to spend less in capex without its UK operations.

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Juz_Invest ( Date: 12-Aug-2010 21:32) Posted:

Genting Singapore 2Q10 reports profit on casino operations: Update

Genting Singapore Plc reported second-quarter profit of $396.5 million compared with a loss a year earlier as its new casino resort in Singapore “made an impact” in its first full quarter of operations.

Revenue surged to $979.3 million in the three months to June 30 compared with $120.1 million a year ago, according to a filing to the Singapore stock exchange today. Earnings before interest, tax, depreciation and amortization, or Ebitda, were US$513.9 million ($700.1 million), with margins of 52%, the statement said.

Singapore overturned a 40-year ban on casinos in 2005 to spur economic growth. Genting’s US$4.7 billion Resorts World Sentosa opened on Feb. 14 and features Southeast Asia’s only Universal Studios theme park. Billionaire Sheldon Adelson’s Las Vegas Sands Corp. opened its rival US$5.5 billion Marina Bay Sands casino resort in the financial district in April.

The group’s Ebitda figure was “way above our $244m and consensus forecasts, which we think was $220m,” Aaron Fischer, a casinos analyst at CLSA Ltd. in Hong Kong, wrote in an e-mail. “With such strong set of results, our fair value for the stock will likely be revised to at least $1.50.”

Genting Singapore, controlled by Malaysia’s Genting Bhd., is the second-best performer on the Straits Times Index over the past 12 months, surging about 50% compared with the benchmark’s 14% gain.

The shares ended at $1.28 today before the results announcement, compared to their record close of $1.30 in December. Fischer’s target price for the stock is $1.30, according to Bloomberg data.

‘SHOWED RESILENCE’

“The gaming operator’s new flagship integrated resort Resorts World Sentosa made an impact, raising the group’s Ebitda,” Genting Singapore said in a media release. “With the opening of Marina Bay Sands, our business showed resilience,” the results filing said.

Monthly tourist arrivals in Singapore exceeded the 1 million mark for the first time in July, aided by the opening of two casino resorts, according to data from the tourism board. Two-thirds of the visitors to Genting Singapore’s casino in the city-state came from overseas, President Tan Hee Teck said in the media release.

Parent Genting Bhd., which holds 52% of Genting Singapore, said in July that it would buy the Singapore affiliate’s U.K. casino businesses for 340 million pounds ($722.3 million). Genting Singapore owns and operates 46 casinos in the United Kingdom, according to the media release.

Genting Singapore will hold an extraordinary shareholders’ meeting on Aug. 18 to approve the sale, the media release said. The company “plans to focus on its large-scale, integrated resort operations in Singapore and similar-natured opportunities in the region,” it said.

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niuyear
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13-Aug-2010 17:17 User is Offline

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wow!! best weeks to sell is next week.

am holding 1.27 HUAT AHHHHHHHHHHHH cheong to 1.50!!

teeth53 ( Date: 13-Aug-2010 17:09) Posted:

Genting SP

1.350

1.460

+0.180c

+14.1%

Vol:676,743,000

21,000

1.670

1.320

70,000

1.460

1.350

Super volume today : 676,743,000 millions share changed hands.

teeth53 - Those bot today n this few days have best week to sell in this coming week.

niuyear ( Date: 27-Jul-2010 10:33) Posted:

I sold yesterday 1.23, No more holding.

alooloo ( Date: 27-Jul-2010 10:22) Posted:

yes, probably...

did you still holding or sold out?

Dear Members, For more insight, visit http://www.sharemarketsg.blogspot.com Bet you would not be let down. Bookmark us.

Friday the 13th Surprised...

Maybe copy dog?

LOL

This COPY CAT ? ? ? ?

uSe dAy hIgh S$1.45 tO add S$0.10 ? ? ? ?

WHY type Of ANALYST is thIs ? ? ? ?

AFC ? ? ? ?

Juz_Invest ( Date: 13-Aug-2010 10:23) Posted:

Target price for Genting Singapore to S$1.55 from S$0.99 By Citi

More picture please and raise more

Huat Ah !

hlfoo2010 ( Date: 13-Aug-2010 11:22) Posted:

Pic well taken and Gent sp raise ???

Pic well taken and Gent sp raise ???

LADY LUCK

purelotus ( Date: 13-Aug-2010 10:27) Posted:

“My LUCK was accentuated by my living in a market system that sometimes produces distorted results, though overall it serves our country well. I’ve worked in a economy that rewards someone who saves the lives of others on the battlefield with a medal, rewards a great teacher with thankyou notes from parents

but rewards those who can DETECT the MISpricing of securities with sums reaching into the billions.

“In short, fate’s distribution of long straws is wildly capricious.”

Tks for the support, 2 yrs supply liao, if clear all of them. But no hurry.

Ha ha, my younger sister's families over the courseway must be overjoyed liao. Now 1S$=2.32Rm. They asked me to buy some at 1.13 last yr end, for long term investment. Cheers.

Speeder ( Date: 13-Aug-2010 10:45) Posted:

Dream Come True

One year beer supplies

LOL

AK_Francis ( Date: 29-Jul-2010 11:25) Posted:

RWS inaugurated since 14 Feb, CNY First Day, till today alrdy 165 days liao. Estimated each day posketed ard 1.5mil(Sands 1.96mil / day), ha ha, 247.5 mil liao, siao loh. But if counted sale of UK ops n 1H's profit, AK doubt Mr Lim can give div,if hv very lean liao.

But if ds burger breaks 130, hoe seh liao, better than div. Cheers.

WOW

will be next dream

LOL

Juz_Invest ( Date: 13-Aug-2010 10:35) Posted:

Target price for Genting Singapore to S$2.00 from S$1.30 By CLSA

we have no position (but will re-evaluate this counter in these two weeks) but we feel so SHIOK to see Genting up as it is really nice to see people making money (esp. the uncles and aunties).....good luck :)