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Genting SP Next Move

risktaker
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06-May-2013 21:29

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Yells: "Sometimes you think you know, but in fact you dont"

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Actually......luck factor...... means VIP will more likely to gamble at RWS..... so their business are more substainable compare to MBS....

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LOVEYOURSELF
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06-May-2013 16:04

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FEAR NOT. UNLIKELY TO FALL BELOW 1.40 EX-DIV THIS WK.

AS INVESTORS MEMORY IS USUALLY VERY 'SHORT' AND 'FORGIVING', IT MAY MOVE UP FM 1.40 DEPENDING ON STI. FEAR NOT.

Tomique ( Date: 06-May-2013 15:20) Posted:

It is obviously going down one straight line, no second consideration unless there are some good news that could come up to boost the confidence of future yields and returns. I am not sure if there are anything waiting announcements.

Tomique ( Date: 06-May-2013 14:46) Posted:

GSp likely trying to go to $1.40 or below as many players are disposing their shares at the frustration of seeing lower profits. Good time to sell first and buy back later ard say $1.35?

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Tomique
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06-May-2013 15:20

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Tomique ( Date: 06-May-2013 14:46) Posted:

GSp likely trying to go to $1.40 or below as many players are disposing their shares at the frustration of seeing lower profits. Good time to sell first and buy back later ard say $1.35?

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Tomique
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06-May-2013 14:46

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GSp likely trying to go to $1.40 or below as many players are disposing their shares at the frustration of seeing lower profits. Good time to sell first and buy back later ard say $1.35?

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guoyanyunyan
Elite

06-May-2013 11:39

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Yells: "uncertainty always exist"

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Macquarie Equities Research bullish on Genting Singapore
Genting’s results and share price performance spurred many research houses to release reports on the stock, Macquarie Equities Research (MER) was one of them. In a report released on Friday evening, MER said that delving into the details will show that Genting Singapore actually saw a blowout quarter, which was negatively impacted by a low hold rate – a luck based issue (non operational). Adjusting for hold, EBITDA (earnings before interest, tax, depreciation and amortisation) would have been $400mn.

MER reiterated its Outperform view on Genting Singapore for the below reasons:

Genting Singapore is a relatively less-loved Asian gaming name as it fits in a valuation abyss. Neither is it a yield play nor is it a growth play (as Singapore gaming has matured very quickly). In fact, MER’s analysis shows that at the current share price, the market is implying a 3% long-term growth rate…which gives you a sense for how negative the market is on the stock – i.e. assuming that GENS can generate almost no incremental growth from the excess cash. The question is: “What’s going to take Genting Singapore out of this valuation abyss?”

- Japan. The market presently assumes that GENS has nowhere to invest its free cashflow and given the company is unlikely to pay a dividend means that it may get used in a return destructive manner. However, MER’s Japan Gaming Analyst believes that gaming legislation in Japan could get approved by late 2013. Genting Singapore also believes that there is a 70% chance of it getting approved. If this were to happen, the market’s expectation of growth
from Genting Singapore would change dramatically.

- Genting Singapore’s first quarter results was let down by non-operational factors, i.e. a lower hold rate in VIP. This depressed the topline and the EBITDA performance. Adjusting for the hold rate issue, performance was very strong. VIP turnover hit a record +38% year-on-year. The mass market business also showed mid-single digit growth which is a good performance. There is also upside in 2H13 as Genting Singapore starts to rationalise costs at Marine Life Park and drive efficiencies. Management did provide weak guidance on VIP which we do see as an issue. However, because casino operators in Singapore manage their own credit books – tightening credit for VIPs doesn’t result in lost revenue, just deferred revenues, which will return.

MER thus reiterates its Outperfom 12-month target price of $1.85 assuming a 5% long-term growth rate. MER believes that the major catalyst to lift the target price will be Japan gaming as it will show the market that Genting Singapore has a better way to deploy its free cash than is appreciated.

Source: Macquarie Research - 06 May 2013

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guoyanyunyan
Elite

06-May-2013 09:21

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A cruel reminder not to hold a stock through Earnings - Genting

Dear Friends,

Today (3 May) we face a cruel reminder of not to hold a stock through earnings. In the past, I have advised short term traders to liquidate all positions before earnings. This is especially so for Genting today. After powering forward for the last few days from $1.40 to $1.64 highest yesterday, today it gaps down to close at $1.485 after a poor poor earnings results.

This is the power of earnings. It has the ability of causing a stock to lose 10% of its value in a single day. After 10 years of trading in the US market, I have a phobia of holding a stock through earnings as it seems too unpredictable whether a stock will gap up or down. It is like holding a time bomb to me.

I would encourage all short term investors to adopt the habit of liquidating your positions going into earnings. However, if you are a long term investor, a 10% drop is still ok, as it may still come back and may even be a good opportunity to add on position if you think it is worth it. It is important to know your trading style.

Rgds
Daniel
www.danielloh.com

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wanglausern
Senior

04-May-2013 01:10

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In Aug last year when Mabel Lee, President of high stake gaming division was asked to leave as required by the relevant authority, I made several postings that RWS high-stake gaming revenue would suffer and I was being chided by many here.

If any of you here is into casino high-stake gaming, please go and ask any high-roller you know their preference to play in RWS or MBS.

The latest I can tell you is that the VIP and VVIP parking lots at RWS are always empty while those at MBS are always filled up.

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oldflyingfox
Master

03-May-2013 21:36

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Today, about 30% of the volume done was borrowed and shorted. Just wonder how many has it been covered today. Can predict that the share price will swing up & down very quickly due to these large amount of short term players. So no need to hurry to sell at low or buy at high.

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yummygd
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03-May-2013 20:07

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Either way might be bad news. 1 lotter up wanna dump his holdings. 1 lotter down might be shooter hoping to buy back cheap lol

Tomique ( Date: 03-May-2013 16:57) Posted:

2 gangs of 1 lotter fighting one another. One always sell to bid and one buy from ask queue.

wanglausern ( Date: 03-May-2013 16:49) Posted:

It's not bad luck. Most of the high rollers prefer to gamble at MBS

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krisluke
Supreme

03-May-2013 18:58

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Bill Lehane

03 May 2013 10:19 GMT

The fabrication group said net profits were offset by a 64% drop in associate contributions from Cosco Shipyard Group to $4.2 million, as well as the absence of a year-ago benefit from interest income on deferred payment to customers.

The contractor raised revenues 11% over the three-month period to $1.1 billion, which it put down to higher revenue recognition in the rig building segment.

Sembmarine booked $1.7 billion in rig orders and offshore platform contracts since the start of the year to take its order book to $13.6 billion.

The contractor said overall outlook was “healthy”, while warning that “competition is intense and impacts margins”.

It said it expects strong demand for rig building, especially high-spec units in an era of increased focus on safety.

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Tomique
Master

03-May-2013 16:57

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2 gangs of 1 lotter fighting one another. One always sell to bid and one buy from ask queue.

wanglausern ( Date: 03-May-2013 16:49) Posted:

It's not bad luck. Most of the high rollers prefer to gamble at MBS.

krisluke ( Date: 03-May-2013 08:48) Posted:

A stroke of bad luck. That's what casino operator Genting Singapore PLC (GENS.SI) blamed for reporting a sharply lower-than-expected quarterly profit, while also flagging a cautious outlook due to muted Chinese economic growth.

Genting Singapore's Resorts World Sentosa, one of two casinos in the island state that are the envy of the global industry since opening three years ago, said that its 35% fall in core earnings simply came down to so-called " premium" gamblers getting lucky.

Those figures were in stark contrast to Wednesday's quarterly earnings announced by Las Vegas Sands Corp (LVS.N), owned by billionaire Sheldon Adelson, which had been boosted by strong results in Singapore and Macau.

Genting Singapore's January-March adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $249.7 million from $381.4 million a year ago.

Five analysts polled by Reuters had on average expected a profit of $359 million by the casino operator, which is more than half owned by Malaysia's Genting Bhd (GENT.KL).

Sands' rolling chip volume, or betting volume by VIP players, at its Marina Bay Sands in Singapore rose 42.2% to US$18.21 billion ($22.4 billion) in the quarter, the highest quarterly volume in the property's history.

The two Singapore casinos are the world's most profitable, but concerns have risen about debts from Chinese high-rollers and China's economic uncertainty.

" Moving forward, looking at the economic situation around the world and also the noises that are coming out of China, we are cautious," Tan Hee Teck, president and chief operating officer at Genting Singapore, told an analysts' call on Thursday.

He expects Genting Singapore to write-off some of its debt this year. " We are not pulling back, but we are being a little bit more cautious," Tan said, when asked if the casino would scale down the amount of credit given to its VIP customers.

Sands said it wrote off US$11 million in its Singapore property in the first quarter.

Despite Genting Singapore reporting record volume in its VIP business, Tan was cautious about the outlook for the rest of the year.

The company's shares ended up 4.9% on Thursday on expectations of strong results after Sands' performance.

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oldflyingfox
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03-May-2013 16:54

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since it shown that it was more lucky to play in RWS, why should they still want to play in MBS.... just think the other way. >

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wanglausern
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03-May-2013 16:49

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It's not bad luck. Most of the high rollers prefer to gamble at MBS.

krisluke ( Date: 03-May-2013 08:48) Posted:

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Tomique
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03-May-2013 16:36

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This Q1 results reported only 0.96 cent EPS, That is less than one cent, but their dividends declared was 1 cent per share. It looks like deficit, but if next 3 quarters are better results, then I won't doubt its ability to pay future dividends. Only if the next 3 quarters are bad, then sure no more dividends, I think.

belgeran ( Date: 03-May-2013 16:32) Posted:

why not.. they declare dividends before results.. but they know results before it is announced so it is already taken into account..... dividends declared sure will give one.. just whether future will have higher or lower or no dividends...

Tomique ( Date: 03-May-2013 16:28) Posted:

Now that they have made lesser amount of money, will they still pay the dividends to shareholders?

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belgeran
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03-May-2013 16:32

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Tomique ( Date: 03-May-2013 16:28) Posted:

Now that they have made lesser amount of money, will they still pay the dividends to shareholders?

belgeran ( Date: 03-May-2013 16:12) Posted:

see next week price action then decide lo.. now buy is buying falling knife..... wait for knife to find the floor first ba...

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Tomique
Master

03-May-2013 16:28

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Now that they have made lesser amount of money, will they still pay the dividends to shareholders?

belgeran ( Date: 03-May-2013 16:12) Posted:

see next week price action then decide lo.. now buy is buying falling knife..... wait for knife to find the floor first ba...

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belgeran
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03-May-2013 16:12

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see next week price action then decide lo.. now buy is buying falling knife..... wait for knife to find the floor first ba...

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Tomique
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03-May-2013 16:07

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People will still gamble to provide income for Genting Sp. and various casinos worldwide. It was said they intended to open casino in Japan. If this is true, then it is the best time for Japanese investors to buy now when the price is coming down, right?

belgeran ( Date: 03-May-2013 16:05) Posted:

still making... just making less... lesser than MBS.. lesser than last year as well.. and analyst predict the year going forward will be volatile due to china..... but with hot money printing in jpy, europe and us... i doubt there will be issues with money flowing in.....

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belgeran
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03-May-2013 16:05

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Tomique
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03-May-2013 15:59

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So the company is still making money? Not losing?

doufei ( Date: 03-May-2013 15:57) Posted:

Haha, how can casino collapse?? Its just earn lesser than previous period only. The company is not loss making.

Tomique ( Date: 03-May-2013 15:50) Posted:

Share falling off the cliff like ten pins. Could this be a sign that the company could collapse later?

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