|Bid||1.185 x 0|
|Ask||1.190 x 0|
|Day's range||1.185 - 1.195|
|52-week range||0.740 - 1.215|
|PE ratio (TTM)||24.18|
|Earnings date||6 Nov 2017|
|Dividend & yield||0.03 (3.90%)|
|1y target est||1.28|
The issue will be consolidated into GOHL Capital Limited's existing USD1 billion 4.25% note due 2027 rated at 'A-', with the proceeds mainly used to refinance Genting's bank debt. Genting owns GOHL Capital Limited through its wholly owned subsidiary, Genting Overseas Holdings Limited (GOHL, A-/Stable), which has guaranteed the notes.
It will help develop its leisure and hospitality businesses. Genting Singapore establishes a branch office in Tokyo, Japan. According to an announcement, the branch will focus on the development and management ...
Claremont was based in South Korea. Genting Singapore has dissolved and liquidated its indirect wholly-owned subsidiary in South Korea, Claremont Co. Ltd. The company did not disclose any financial information ...
It eyes revamping Resorts World Sentosa. Despite posting decent results in the first six months of the year, Genting Singapore remains cautious on its business outlook and looks forward to partnering with the government to boost visitor arrivals. According to UOB Kay Hian analyst Vincent Khoo, Genting Singapore is working on a 5-year roadmap to strengthen Resorts World Sentosa's appeal as a lifestyle destination.
The VIP gross gaming revenue has been sustained. Genting Singapore saw a better mass market share in the past quarter, expanding Q1's 38% to 40%. According to CIMB, this came as the VIP gross gaming revenue is sustained despite a slight dip in rolling chip volume market share to 34%.
Genting Singapore hit the jackpot in the past quarter, rebounding from a $10.5m net loss last year to a $143.m net profit. According to OCBC Investment Research, this was contributed by a healthy 24% YoY growth in revenue to S$596.1m, which resulted from a 33% jump in gaming revenue. On the other hand, despite the substantial increase in revenue, administrative expenses and selling & distribution expenses each managed to drop 2% to $39.5m and $13.4m, respectively.
Over the past couple of years, VIP players across Asia have gotten casinos out of their system as Chinese government began embarking on an anti-corruption and austerity drive. According to DBS Group Research, with these players trying to avoid government scrutiny, VIP gross gaming revenue (GGR) in Macau and Singapore fell 40% and 34% in CY15 and 7% and 27% in CY16, respectively. For Genting Singapore (GENS), its market share has declined from mid-50% in 2014 to mid-30% by end 2016.
This will improve the company’s credit metrics over the next 12-18 months. Genting Singapore PLC recently announced that it is going to redeem its outstanding credit on their respective call dates later this year. GENS is said to fund this redemption using cash and cash equivalent credit.
Revenue decline is seen in the mass market segment. Casino operator Genting Singapore recorded a slump in gaming revenues for the past quarter, down 4% YoY to $434.4m According to UOB KayHian, the group's ...
The first quarter of the year was a jackpot period for Genting Singapore as its net profit skyrocketed by 16.7 times from $10.8m to $181.1m. According to OCBC Investment Research, this was on the back of steady 1Q17 revenues at $585.6m and a significant improvement in its margins with gross profit increasing 52% YoY to $260.9m. Meanwhile, administrative expenses and Selling & Distribution expenses dropped 5% to $40.5m and 7% to $12.7m, respectively.
From CNBC via Yahoo!: The helloPay payment platform on Southeast Asian e-commerce site Lazada will be rebranded in each country it operates as a version of Alipay. This comes as Alibaba -affiliate Ant Financial merges with helloPay Group, according to a joint statement from the two companies. Alipay is the payments service from Ant Financial, and it has over 450 million active users, according to the company.
International operators may be limited to JVs with Japanese partners. Japan has done it -- of finally legalizes casinos, with proponents hoping to pass further legislation next year that would enable the first casino to open in the early 2020s. Would Genting Singapore take this opportunity as it continues suffer declining market share in its own turf?
The Japan casino bill is more likely to be passed, says analyst. Japan's casino bill will be deliberated today and OCBC Investment Research is betting for its passage as it believes the Liberal Democratic Party (LDP) was able to amass support from the opposition. "We believe that the LDP – which previously made serious efforts to gain the understanding of the Democratic Party (DP) and other opposition parties – has taken an about-turn in seeking support from the opposition.
Here are three reasons. OCBC Investment Research finds Genting Singapore (GS)’s move to dispose of its Jeju stake aggressive, but sees it as a premature exit from one key area of growth. "There still ...
Genting Singapore announced that Algona, a direct wholly-owned subsidiary, entered into a conditional sale and purchase agreement with Landing International Development Limited (LIDL) to dispose of its 100% interest in Callisto Business Limited (Callisto) for a consideration of approximately US$420 million (equivalent to S$588 million). Furthermore, Genting International Resorts Management Limited (GIRML), an indirect wholly-owned subsidiary, entered into a conditional sale and purchase agreement with LIDL’s directwholly-owned subsidiary, Landing Singapore Limited (LSL), to dispose of GIRML’s 50% shareholding in Autumnglow Pte. Ltd. (Autumnglow) for S$1.
Genting Singapore (GENS)'s strong balance sheet is providing the firm with financial muscle to invest in a Japanese integrated resort should legislation be passed to legalise casinos in November, said DBS Vickers Securities. The research house added that even if it considers capital management initiatives of higher dividends, GENS still has strong cash flow generation. "With net cash of c.S$3.7bn, equivalent to 40% of GENS market capitalisation, GENS remains in a strong position to fund any potential development of an integrated resort despite increasing its dividends," it said.