Genting Spore 03 (Nov 14 - Dec 21)

Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby winston » Tue Aug 06, 2019 6:53 am

vested

Outlook on Genting Singapore less rosy as trade tension heightens

by Syahirah Syed Jaafar

"By taking a best case scenario whereby assuming the cities issue the RFP sometime in end-2019, a winner can be chosen by 2Q20.

In addition, management appears to show little interest in trying out for the IR in Yokohama and Hokkaido," said HLIB.


Source: The Edge

https://www.theedgemarkets.com/article/ ... -heightens
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Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby winston » Tue Aug 06, 2019 11:12 am

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Time to take a chance

2Q19 adjusted EBITDA of S$294m was in line with expectations, thanks to an elevated luck factor

VIP chip volume picked up in 2Q19, while mass market business declined significantly

Interim dividend of 1.5Scts declared

Maintain BUY with unchanged TP of S$1.20

Source: DBS

https://researchwise.dbsvresearch.com/R ... =ehaabkhea
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Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby winston » Sat Aug 17, 2019 5:23 pm

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Is Genting Singapore (SGX:G13) A Risky Investment?

Genting Singapore had S$251.5m of debt at June 2019, down from S$1.15b a year prior. But it also has S$3.64b in cash to offset that, meaning it has S$3.39b net cash.

Genting Singapore had liabilities of S$626.3m falling due within a year, and liabilities of S$538.4m due beyond that.

On the other hand, it had cash of S$3.64b and S$148.4m worth of receivables due within a year. So it can boast S$2.63b more liquid assets than total liabilities.


Source: Simply Wall St

https://finance.yahoo.com/news/genting- ... 50845.html
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Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby winston » Fri Oct 11, 2019 9:50 am

Genting Singapore (GENS SP, NEUTRAL, TP: SGD0.97)

Higher Tourist Arrivals To Help

Company Update

Maintain NEUTRAL with an unchanged TP of SGD0.97, 9% upside and c.4% dividend yield.

As a result of the ongoing protests in Hong Kong, in 2H19, GENS could benefit from increased tourism activities.

Higher tourist arrivals could help boost the mass-gaming and non-gaming revenues which could offset the softness in mass-gaming volumes that happened as a result of an increased levy, for local and permanent residents, implemented in 2Q19.

Source: RHB

https://research.rhbtradesmart.com/atta ... 625a7a.pdf
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Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby winston » Sun Oct 27, 2019 9:22 pm

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Genting Singapore (GENS SP)
A Timely Smart Bet


GENS’ share price should trend up as the bidding process for the Japan gaming concession progresses to its finale in 2020.

GENS is a shortlisted candidate for Osaka, which promises a good payback period.

Failure to clinch the concession could also mean better dividends from the cash-flushed company.

Meanwhile, Resort World Sentosa’s 5-year expansion plan is on track and we continue to project a moderate GGR contraction for 2H19.

Maintain BUY. Target price: S$1.11.

Source: UOBKH

https://research.uobkayhian.com/content ... 7bb0f46736
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Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby winston » Thu Nov 07, 2019 10:19 pm

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3Q Earnings

Revenue: -7%
EPS: -25%

https://links.sgx.com/FileOpen/GENS%20S ... eID=584736
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Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby winston » Fri Nov 08, 2019 7:32 am

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Genting Singapore reports lower earnings in 3Q

KUALA LUMPUR: Resorts World Sentosa operator Genting Singapore Ltd said third quarter earnings fell by almost a fifth, as revenue slipped.

Net profit in three-month ended Sept 30 fell 24% to S$158.9mil, while sales declined 7% to S$596mil.

The group, in a filing in Singapore, said it recorded an adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) of S$278mil for the third quarter.

On a hold-normalised basis, the group would have generated an adjusted Ebitda of approximately $295mil, or 7% less compared with the same quarter last year.

In the third quarter of 2019, average daily visitation to Resorts World Sentosa exceeded 23,000 and its hotels continued to outperform industry benchmarks at an average occupancy rate of 94%.

Source: The Star

https://www.thestar.com.my/business/bus ... HD051Bh.99
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Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby winston » Fri Nov 08, 2019 11:06 am

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Genting Singapore (GENS SP)
3Q19: Option Value Emerging For The Japan Bid


3Q19 results largely met expectations.

VIP volume remained steady while mass market GGR softened significantly qoq.

Going forward, we expect GENS to sustain a baseline EBITDA of S$300m, driven by its successful regional mass market promotion (despite rising regional competition) and an eventual recovery in the local mass market.

Expect share price to continue rising as the Japan gaming concession RFP exercise reaches
conclusion in 2H20.

Maintain BUY. Target price: S$1.11.

Source: UOBKH

https://research.uobkayhian.com/content ... 912c844dba
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Re: Genting Spore 03 (Nov 14 - Dec 19)

Postby behappyalways » Fri Nov 08, 2019 4:44 pm

Genting Singapore posts 24% drop in 3Q earnings to $159 mil on lower gaming revenue
https://www.theedgesingapore.com/capita ... ng-revenue
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Re: Genting Spore 03 (Nov 14 - Dec 20)

Postby winston » Tue Jan 21, 2020 7:46 pm

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Genting Singapore sets maximum US$10 billion investment in Japan IR

by Ben Blaschke

Genting Singapore set to raise US$3.2 billion from Yen-dominated bonds for Japan expansion
Resorts World Sentosa

Genting Singapore, operator of Singapore’s Resorts World Sentosa, has revealed a maximum budget of US$10 billion for development of an integrated resort in Japan.

The figure formed part of a circular to shareholders issued on Monday ahead of an extraordinary general meeting the company plans to hold on 4 February 2020 in order to gain shareholder approval to proceed with “one or more bids” for the development, operation, management and ownership of an IR project in Japan.

In announcing the EGM, Genting Singapore explained it is seeking shareholder approval to undertake its Japan IR project on “such terms and conditions as the Directors deem fit” and to allow the Directors authorization to “do all such things and execute all documents as they may consider necessary or expedient to give effect to the Proposed Bid and the Company’s investment in the Japan IR project.”

Such bids, the company confirmed, will be focused on major cities and prefectures with Osaka, Yokohama and Tokyo named as its primary locations of interest.

However, any investment in Japan would not top US$10 billion with Genting Singapore stating it is “cognisant that, for the purposes of good corporate governance, such approval of shareholders should not be for an ‘un-capped’ amount.

“Hence, the Company is seeking the approval of Shareholders to submit a Proposed Bid with respect to any one prefecture or city with an investment amount not exceeding US$10 billion (approximately SG$13.6 billion),” it said.

Genting Singapore added that, while it may submit multiple IR bids in Japan, it will not develop and operate more than one IR in Japan in the first seven years after receiving approval by the Minister of Land, Infrastructure, Transport and Tourism for its first IR.

Outlining its reasons for pursuing a Japan IR license, Genting Singapore said, “The Group’s strong financial position puts it in an exceptional position to develop a truly transformational project in Japan.

The Japan IR investment will enable the Group to optimize its balance sheet and create attractive and sustainable returns to Shareholders in the medium and longer term, as it did with the Singapore IR (Resorts World Sentosa).

“The Company expects the return of the Japan IR project to be commensurate with market expectations and conditions of similar projects in the leisure, hospitality and gaming industry.”

Genting Singapore noted that full implementation of a Japan IR bid would remain dependent on factors such as confirmation of relevant IR laws and regulations as well as final development, pre-opening and construction costs.

The planned 4 February EGM will also see shareholders vote on a potential incentive award to be granted to Chairman Lim Kok Thay “for his contributions and involvement in the Proposed Bid by way of awards of Shares,” dependent upon the Japan IR bid proving successful.

Source: Inside Asian Gaming

https://www.asgam.com/index.php/2020/01 ... -japan-ir/
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