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Target price for Genting Singapore to S$1.93 from S$1.45 By Deutsche
Target price for Genting Singapore to S$1.60 from S$1.06 By MS
Target price for Genting Singapore to S$1.55 from S$0.99 By Citi
From tomorrow onward, can start to find the right entry to short.... lol... 
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.
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'.
.........
hit the jackpot.
Juz_Invest ( Date: 10-Aug-2010 15:01) Posted:
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So STI > 3,800 will not be a problem, if Genting Singapore has reached >Sgd. 1.60 then!
Juz_Invest ( Date: 10-Aug-2010 15:01) Posted:
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Target price for Genting Singapore to S$1.60 from S$1.25 By DBS Vickers
Agreed, some parasites r self reproduction types. Or even bacteria or virus in animals n human being r the exceptioanl.
"Ha ha, all living creatures must mate to reproduce(fertilization)"
Correction:
Some creatures are asexual and reproduce by themselve, eg Amoeba, Hydra.
Ha ha, all living creatures must mate to reproduce(fertilization), disregarding they are oviparous(by eggs) or ovovivaparous(born fr body),meaning they hv sex organs.
Earthworms r hermaphrodites, but they can't do themselves to produce eggs, mating is essential.Human being n most reptiles r ovovivaparous, but not sure creatures fr outer space, if any.
pharoah88 ( Date: 05-Aug-2010 13:58) Posted:
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informatIcs is the BEST multi-bagger in July - August 2010
earthworms got no sex organs ?
used to feed earthworms to chickens and ducks during childhood days
DnApeh ( Date: 03-Aug-2010 20:39) Posted:
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Juz_Invest ( Date: 02-Aug-2010 11:15) Posted:
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Back of?
cathylmg ( Date: 04-Aug-2010 11:29) Posted:
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Coming back liao...
Total vol 286,300
Value 360,700,000
- 0.040
- 3 '/.
1.250
Big move?