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Eddyson Senior	31-Jul-2008 21:42        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	DJ FOCUS: Genting Intl's Luck May Turn With Singapore Casino By Patricia Kowsmann Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)--Shares of gambling company Genting International PLC (G13.SG) have been beaten down by a soft streak in its U.K. operations and concerns about construction costs at its Singapore casino-resort. But some analysts say investors are ignoring the long-term prospects of the company, which in early 2010 should begin to cash in on one of only two casinos allowed to operate in the wealthy city-state. With the shares down nearly 30% from a year ago, some say it is time to buy, even though there won't be any immediate rewards. "We think the share price is attractive, and we've been buying because we believe in investing in a casino in a market where there will be only two," says a fund manager whose portfolio includes the Singapore-listed company. "Not only competition won't be stiff like in Las Vegas or Macau, but we expect these operators will be able to make money quickly in this booming market," he says. Genting International, with a market capitalization of about US$4 billion, is 54.5% owned by Malaysian gambling giant Genting Bhd. (3182.KU). Its 49-hectare, six billion Singapore dollar (US$4.4 billion) casino on Sentosa island will include a Universal Studios theme park, six hotels with more than 1,800 rooms and an oceanarium. Resorts World at Sentosa will compete with a 21-hectare, US$4.6 billion Las Vegas Sands casino-and-hotel complex at the Marina Bay area, near the financial district, which is slated to open next year. In 2005, Singapore scrapped a ban on casinos as part of a plan to attract more tourists. Analysts say there is room for both projects under construction to succeed because of their different customer target. "The casino at Sentosa is more family-oriented, while the other is closer to the city, so it will attract more office crowds. They each have their own niche, and they both will do very well," says CIMB-GK Research analyst Steven Tan. Still, he has a neutral rating on Genting International's stock, citing lack of near-term positive catalysts. Tan's 12-month target is S$0.65. The stock closed Wednesday at S$0.575. Genting's stock rose after the Singapore government in December 2006 chose the company for the resort-casino project. But for much of the past year, it has been on a downtrend strengthened by a slowdown in U.K. operations and fears over construction costs for the Singapore project. The company's U.K. business, comprising 46 casinos, has suffered from a smoking ban imposed in July 2007 and from the global economic slowdown. For 2007, Genting reported a net loss of S$381.5 million on revenue of S$749.4 million in 2007, reflecting an impairment loss of about S$455 million on goodwill arising from acquiring U.K. casino properties. Lower revenue from operations and reduced gains on some some financial instruments contributed to a sharp drop in Genting's net profit for the quarter ended March 31. Net profit fell to S$6 million from S$67.9 million a year earlier, while revenue declined 14% to S$168.8 million. The company hasn't announced its second-quarter results. Some analysts aren't too concerned about the company's near-term results. For one thing, after 2010, the Singapore casino is likely to account for more than 80% of Genting's total revenue. "It is quite straightforward for Genting International: They have a brand-spanking-new casino coming up. The earnings in 2008 and 2009 are really irrelevant, because everybody is looking at 2010," says Macquarie Research analyst Edward Ong. Ong is very bullish on the stock, which he believes can return to its early 2007 levels. He has an outperform rating with a 12-month target price of S$1.11, or 93% above Wednesday's close. He forecasts that Genting will have small losses this year and in 2009, and then a net profit of S$307.9 million in 2010 on revenue of S$2.8 billion. In Ong's view, investors should build positions now in Genting, well before the casino launch. "The track record with casino stocks is that typically some 12 months before the expected opening, the stock rallies. That's because for people, earnings become more and more real," Ong says. Of course, there are downsides to this bet. How well casinos do financially depends on consumer confidence and the global economy. If the whole world enters a recession next year, casinos everywhere could suffer. U.S. casinos are already hurt by the country's economic slowdown, but Macau peers are still generating strong gambling revenue. Wynn Resorts Ltd. recently said its net Las Vegas casino revenue dropped 24% in the second quarter, while net Macau revenue jumped 50% from a year ago. For Genting, rising construction costs have made some investors nervous. Late last year, it said the Sentosa casino would cost S$800 million more than the initial budget, mainly because of construction expenses. The company has said it doesn't expect further cost overruns. Some analysts say rising costs will be offset by higher revenue from services, including hotel-room rates. In Singapore, room rates have increased sharply since 2006, but occupancy rates haven't gone down. "I am not worried about costs," says Tan of CIMB-GK Research. "I am very positive and bullish about the prospects of the Sentosa project." -By Patricia Kowsmann, Dow Jones Newswires; 65 6415 4157; patricia.kowsmann@dowjones.com--- Worth a gamble now?
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Eddyson Senior	19-Jul-2008 12:09        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dow Jones end on Thursday 200 over pts but our world class market STI down 16 pts, last night Dow again up 49.9 pts, so guess how STI will perform on Monday.The following verse was written by an American writer in Jan 2008. I guess Singapore investors hv got this in mind resulting in STI downtrend. 25/01/08--Americans are addicted to a drug more powerful than crack cocaine, it's called credit. And like addicts, Americans are in denial. After a few weeks in credit rehab, we are now back on the streets desperately looking for our next fix. The government, our pusher, our enabler, sees us curled up sobbing, shaking, and sweating. Does Ben take us back to rehab? No, he does what any good pusher would do. He rolls up our sleeve for the next injection. Listless, we feel the stimulation rush through our economic veins, temporarily relieving us from our pain and misery. Fleeting thoughts of doom race inside our strung-out minds as we remember what happens to all junkies in the end, but junkies don't care. Detached from reason, we succumb to the pleasure of the moment.  Have we forgotten suddenly why markets have been plummeting lately? A few days ago, everybody was looking for the exit doors...But just take a look at markets around you today, humming along nicely as if nothing happened...Some are even panic buying, chasing prices up! Incredible isn't it? I think some of us are really in denial...Quick fixes never work...they just sustain...but for how long?...I say We are now in the eye of the storm...Everything is silent and eerily calm...Some of us are already venturing out....Should we follow them?...
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SupremeA Veteran	17-Jul-2008 23:40        SupremeA About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hmm AK, bloomberg shows Dow is up by 23
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AK_Francis Supreme	17-Jul-2008 23:29        AK_Francis About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Happy go lucky, cheers."
x 0   x 0  Alert Admin	not a good sign now, DJ down -22. expect it will decline further till lunch break. AK will not follow it opens 2nd half the day at 0130 local time. Wake up early to check again. a bit tired as starring at the screen nearly whole day today.
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Eddyson Senior	17-Jul-2008 22:38        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	It is now slightly to the positive side, oil price now hv drop USD$10 wthin 2 days & USA has sent a negotiator to Iran for talks. At this pt of time Dow is up 40 pt coming down from as high as 110 pts, looks like tomorrow STI green green. Tonight Merril & City reporting, looks like not as bad as Fanny & Freddy. Genting at this pt of time is still a good price to accumulate for the long term.
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Eddyson Senior	13-Jul-2008 18:08        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	The 1st thing in my mind is that, will Iran be attack for its nuclear ambition & end up with oil price passing $2 per barrel. Secondly, US sub prime problem is still lingering & looks more serious by the day. On the other hand, China, Taiwan & Japan are joining hands in exploring oil  at the of strait of Taiwan & east China sea between Taiwan & Japan in order to not depend on oil from middle east. Things can happen either way. If there is no war in middle east & there is a turn around in US, oil price will start to fall as there will be panic selling in oil future as oil trader will load off their holdings inorder to take advantage of the high oil prices. In the future, country like China, Taiwan & Japan will be less depending on oil from middle east & countries will invent themselves to be less depending on crude oil for energy. What ever happen, there will always be a start, be it war, disaster, money problem & etc, there will always be an end to it just like the financial crisis, SARS & tech bubble busting. So dear forumers, lets share your experience to predict, when, where & how to make the best of our hard earn money or your clients money to invest in this unpredicted time. In my opinion, Genting is a stock which will gloom for the long term but in the short term is facing money not enough problem with its loan, bonds issued & high gaming tax increase in UK- but the price now is low & how low can it goes its for you to pick & no one else. That is all I need to say & that is all I need to remind everybody that the market is a cycle of good times & bad times, so invest & trade wisely.
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AK_Francis Supreme	13-Jul-2008 02:12        AK_Francis About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Happy go lucky, cheers."
x 0   x 0  Alert Admin	anoh, chodomadek, Macau gambling sectors slumped loh, retrenchment staff leow. moreover other nearby Asian countries wanted to share the pie as well. if don't believe to KY optimistic hope in 5 to 10 yrs time, then the IRs may not boom once they start business. anyway, now the world is full of troubles, really can't predict what next loh.
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Eddyson Senior	12-Jul-2008 18:04        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	Listen to LKY, when he 1st said that Genting is very serious in opening a casino in Spore because Genting hv put in a bid in both Marina & Sentosa, I hv quickly bought into Genting which now left me with a reasonable profit until today.Guess what he said in the latest forum, …Oil price & Spore economy for the next 5 to 10 yrs not a problem with its forecast GDP, unless there is a war in the middle east. Therefore, I am confident, with such a good government, Genting will be fine in order that the tourism sector will prosper  & in yr 2010, $1 is not a problem. If LVS will to be listed in SGX….Whaoh……just compare the PE in a duopoly situation in South East Asia with Genting having an edge as it already had one in Malaysia, not forgetting that Genting highland is still blooming with business Monday to Friday, with weekend pack like sardine. So at this point of time, buy on dip & hv confident for the future but do not quote me if I am wrong, Sayonara.
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AK_Francis Supreme	11-Jul-2008 01:28        AK_Francis About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Happy go lucky, cheers."
x 0   x 0  Alert Admin	oh, eddy san des, sushimasian. hai, GenInt IPO 35cts des ka.  Eddyson      ( Date: 30-Jun-2008 21:26) Posted: AK San, IPO price was 35cts not 25 cts.I still remember I jeep 34cts & collect all the way to 29.5cts.
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Eddyson Senior	10-Jul-2008 21:54        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	Posted: 10 July 2008 1305 hrs HONG KONG : US casino billionaire Steve Wynn, whose firm operates Macau's Wynn resort, is exploring tapping Hong Kong's stock market for as much as 3 billion dollars, a report said on Thursday. The company would use the cash to finance its ambitious expansion plans in the nearby gaming haven of Macau, the South China Morning Post said, citing unnamed sources. However, the current poor market conditions in Hong Kong -- the benchmark index has tumbled more than 20 percent since the start of the year -- could delay any move, the report said. "They are a long way away from [a share sale] and they might never do it," the unnamed source said, according to the report. "At the moment, the market is definitely not right." The report said Wynn's current plans to open a 400-room hotel tower called Encore next to its existing property did not need new financing. Instead, it could use any cash raised from a share sale to build a resort on the Cotai Strip, a huge piece of reclaimed land close to Las Vegas Sands' huge Venetian Casino, which opened last August. Several projects are currently being built there in an effort to recreate the Las Vegas Strip, which Macau last year overtook in terms of gaming revenue. The potential listing comes as Wynn's Macau rival, Stanley Ho, is expected to take his company public in Hong Kong next week in a move which has reportedly raised around 500 million dollars. A mixture of poor market conditions and legal action by his estranged sister, Winnie Ho, has delayed the listing since it was first mentioned in January, when the IPO was aiming to raise US$2 billion. Portuguese colony was broken up in 2002, the city has seen a flood of investment from foreign operators, transforming it into a gleaming gambling Since Ho's monopoly on gaming in the former paradise.]Since S'pore's restriction on gaming in the former Malaysian colony was broken up in 2006, the city has seen a flood of investment from foreign operators, transforming it into a gleaming gambling paradise. Does that sound the same?:D
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famasutika Member	08-Jul-2008 22:48        famasutika About Contact  Quote this Post!
x 0   x 0  Alert Admin	Anyone has any idea how this share will fluctuate in 2-3 months time?
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Eddyson Senior	30-Jun-2008 21:26        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	AK San, IPO price was 35cts not 25 cts.I still remember I jeep 34cts & collect all the way to 29.5cts.
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AK_Francis Supreme	30-Jun-2008 15:55        AK_Francis About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Happy go lucky, cheers."
x 0   x 0  Alert Admin	if u hv kept this burger, then treat it as mid term investment loh. jangan tension. however, u may consider to avg is it drops further near the IPO of 25 cts, if AK not mistaken.
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loyfam88 Senior	30-Jun-2008 12:10        loyfam88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If can see $1 at the inauguration at 2010, think it's still worth holding.... afterall inflation is all time high.
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AK_Francis Supreme	28-Jun-2008 02:11        AK_Francis About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Happy go lucky, cheers."
x 0   x 0  Alert Admin	at current volatile market situation, the support TP is likely the right issue price of 0.60. u will only see 1.00 most likely after the inauguration of the IR, say in early 2010.
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samuel_ng Member	27-Jun-2008 18:15        samuel_ng About Contact  Quote this Post!
x 0   x 0  Alert Admin	Will this stock ever touch $1 again? I am thinking of how it started...
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AK_Francis Supreme	27-Jun-2008 00:48        AK_Francis About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Happy go lucky, cheers."
x 0   x 0  Alert Admin	ayoh, only those winning money one will bring flowers to the tomb. how many can leave the casino with more cash than they entering the gaming place???
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Eddyson Senior	26-Jun-2008 19:56        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	Genting Highland is still pack from Monday to Friday & the memorial hall of Datok Lim G T which is opposite Awana Golf & country club is still filled with flowers everyday, wonder who is placing all these flowers at his rest place? Only the vegetable seller which was located just outside the memorial hall is missing, heard that her son was murdered by one of her relative in a kidnap case, what a sad story.
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AK_Francis Supreme	26-Jun-2008 01:32        AK_Francis About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Happy go lucky, cheers."
x 0   x 0  Alert Admin	with the global threat on inflation and recessasion, gaming centres got the most hit leow. but on the other hand, Spore Pool's kioks got long Q daily for Scratch fun, soccer, Toto and 4 D.
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Eddyson Senior	25-Jun-2008 20:58        Eddyson About Contact  Quote this Post!
x 0   x 0  Alert Admin	LONDON, Jan 21 (Reuters) - British bookmaker Ladbrokes said on Monday it will not bid to run 16 new large UK casinos expected to be given the go ahead by the government in the next few weeks."We have conducted a review of our casino strategy and have decided we won't bid for licences," a Ladbrokes spokesman said, adding that the firm had been put off by the amount of money it would have had to lay out.Having had plans for a giant Las Vegas-style supercasino scuppered last year, the government is expected to push ahead with proposals for 16 new large casinos across Britain in the next few weeks. Potential bidders for the licences include U.S. operators Las Vegas Sands and Harrah's HET.N, Singapore-listed Genting International and UK-based GalaCoral and Rank
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