|Bid||1.32 x 0|
|Ask||1.33 x 0|
|Day's range||1.32 - 1.34|
|52-week range||0.90 - 1.39|
|PE ratio (TTM)||25.38|
|Earnings date||20 Feb 2018 - 26 Feb 2018|
|Forward dividend & yield||0.03 (3.90%)|
|1y target est||1.45|
Thanks to a well-performing VIP business. Genting Singapore pops the champagne as Q3 profits rose by 24% YoY to $168.69m. According to its financial statement, the surge was driven by a successful recovery ...
The bonds’ coupon rate is at 0.669% per annum. Genting Singapore priced its samurai bonds for $241.12m (JPY20b). According to an announcement, the bonds will have a tenor of 5 years and a coupon of 0.669% ...
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.