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Genting Sing
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red1721
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11-Sep-2006 10:45
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Whats your personal view on this counter Nostradamus? |
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Nostradamus
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11-Sep-2006 10:18
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It said it is offering to buy Stanley Leisure at 860 pence per share, valuing the latter at 639 mln stg. The offer is being made after it bought an additional 3.74m shares, equivalent to a 5.3% stake in Stanley Leisure, for 860 pence a share from Stanley Leisure chairman Leonard Steinberg, and has granted a call option of a further 3.7m shares in his firm. Steinberg has also granted Genting International an irrevocable undertaking to accept its offer for the rest of Stanley Leisure. Including its existing shareholdings and Steinberg's shares in Stanley Leisure, Genting said it now has a 30.5% stake in Stanley Leisure. Genting said its offer for Stanley Leisure is conditional on it securing more than 50% acceptance from Stanley Leisure shareholders. "Genting regards the UK gaming market as an attractive investment location," Genting said. In addition to its existing stake in Stanley Leisure, Genting is also the owner and operator of Maxims Casino Club in London. |
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Nostradamus
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08-Sep-2006 17:53
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Stanley Leisure is poised to recommend a takeover bid from Genting International worth between 850 pence and 880 pence a share, The Times newspaper reported without citing sources. The proposed bid will value Stanley Leisure at around 600m stg, or 670m stg including debt. Genting is understood to be seeking to head off a possible bid from US gaming giant Harrah's Entertainment, which made a 280m stg offer for London Clubs International PLC, the article said. The move by Harrah's broke up a planned nil-premium merger between Stanley Leisure and London Clubs. Genting would have become the biggest shareholder in the combined company if a merger had gone through, it said. Genting could launch a counter-bid in an effort to resurrect the merger, the Times said. Stanley Leisure had confirmed that it has received and is currently examining an offer from an unnamed party. |
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Nostradamus
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08-Sep-2006 17:48
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Associate firm Resorts World Bhd said it plans a MYR1.1 b convertible notes issue for working capital, acquisitions or other investments. "From Genting's reply to Bursa, we suspect that Genting International is making the offer for Stanley Leisure," RHB Research said in a note. Genting International has also positioned itself strongly in the bidding for the Sentosa IR, it said. The brokerage said the planned convertible notes issue by Resorts World may be aimed at beefing up Genting's cash reserves for a possible general offer or cash call for Sentosa IR by Genting International and Stanley Leisure. "In the immediate term, we do not rule out the possibility of both Genting and Resorts utilising their cash reserves to invest directly into shares of Stanley Leisure while Genting International makes an offer for Stanley Leisure," RHB said. |
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Nostradamus
Supreme |
05-Sep-2006 19:14
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Stanley Leisure confirmed it has received a bid approach from Malaysia's Genting International, prompting Panmure Gordon and Evolution Securities to cut their ratings, dealers said. After the close last night, the UK casino operator confirmed it received a takeover approach from Malaysian conglomerate Genting International, which is looking to gain a foothold in Britain's fast de-regulating gaming industry. In reaction, Panmure Gordon lifted its target price to 810 pence from 775 pence but downgraded its recommendation to 'hold' from 'buy'; while Evolution Securities cut its rating to 'reduce' from 'add'. Meanwhile, Merrill Lynch reiterated its 'sell' recommendation on the stock. The broker pointed out that Genting also holds a 30% stake in London Clubs, itself the recipient of an offer at 125 pence per share last week from Harrah's. Merrill Lynch thinks that the main reason for the bid at this time is to be in a strong position to benefit from the granting of the 17 new casino licences in the UK under the 2005 Gambling Act. |
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Nostradamus
Supreme |
05-Sep-2006 11:28
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It may be in focus on following a media report that its parent company Genting Bhd has bid for British casino operator Stanley Leisure Plc.
Genting which already owns a fifth of Stanley Leisure, is behind a takeover offer for the British firm, the Independent newspaper reported on Tuesday. Stanley Leisure said it was evaluating an approach from an unnamed party but did not comment on the report. Stanley Leisure and rival London Clubs, nearly 30%-owned by Genting, had been in merger talks until last Thursday when London Clubs agreed to a 279m pound takeover by Las Vegas-based Harrah's Entertainment, the world's biggest casino operator. Genting had also been viewed as a potential bidder in that deal. |
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Nostradamus
Supreme |
01-Sep-2006 18:01
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Standard & Poor's (S&P) said it has initiated coverage with a 12-month target price of $0.38 with an eye on the firm's long-term prospects. "Genting is well positioned to take advantage of the ongoing liberalization in Asia's casino industry given its wealth of experience in developing and managing casinos, as well as its in-depth knowledge of the Asian gambling market," S&P said in a client note. The brokerage added Genting is also poised to take advantage of the ongoing reforms in the casino industry in the UK. "Investors are unlikely to focus on Genting's near-term earnings potential but rather on the prospects of the group clinching casino/integrated resorts in the future," S&P said. |
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Nostradamus
Supreme |
01-Sep-2006 17:59
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125 pence per share, about 27% higher than its previous closing price. Merrill Lynch, which maintain's a "buy" call on Genting, said it has raised its price target to $0.44 on the back of the Harrah's announcement. "We expect Genting's share price to perform better driven by two factors - the prospect of higher share prices of the UK investments and the pending submission of the bid for the Sentosa integrated resort," Merrill Lynch said in a note to clients. |
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Nostradamus
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01-Sep-2006 10:09
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It is higher after Harrah's Entertainment, the world's biggest gaming company, agreed to buy London Clubs for 279.3 mln stg, or 125 pence per share. Malaysian conglomerate Genting Bhd holds about 30% stake in London Clubs. In June, London Clubs said it was in merger talks with peer Stanley Leisure but the discussions have now been terminated. Genting owns around 13% of Stanley Leisure. |
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Nostradamus
Supreme |
22-Aug-2006 21:45
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The value of its UK listed investments, Stanley Leisure (20.1% owned) and Londons clubs (29.8% owned), have fallen as much as 30% when news of a smoking ban from mid 07 was announced in mid Feb 06. However, Genting is still seen as the frontrunner in clinching the Sentosa IR. DBSV is lowering its price target to $0.40. |
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Nostradamus
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28-Jul-2006 17:08
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Genting is the hot favourite for the Sentosa IR. It teamed up with Star Cruises and Universal Studios in its bid for Singapore's second casino project, rose today after it gave details of its theme park. Genting said on that it would build a Universal Studios theme park that's even bigger than the Hollywood original, if it wins the bid. Analysts said Genting's plans indicate its confidence in winning the bid. Dealers said plans by the URA and STB to possibly develop a new international passenger cruise terminal also boosted the cruise operator's share price. Genting has until July 31 to submit documents for probity checks to bid for the casino. |
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singaporegal
Supreme |
05-Jun-2006 13:58
Yells: "Female TA nut" |
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Mixed TA signals ..... suggest we wait till after world cup. |
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mamasan
Member |
05-Jun-2006 09:55
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target price 0.430 |
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