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Hopefully the rumour from US is true :) If it is true, GenM's US segment will do better. One of the wishful thinking that I have is hopefully Genting will consider US listing for US ops.
Genting is planning to sell Bimini resort, John. The exact statement - “During the March 2024 shareholders’ meeting, RAV learned that Genting Americas had ‘approached realtors’ in an effort to sell BB Entertainment’s resort"
The impact (losses) of BB Entertainment can be seen on notes 20 page 139 of GenM's 2023 Annual report. Hopefully Genting/GenM can clear the air whether it's true or false with regards to plan to sell BB Entertainment resort.
The theme is prosperous nation, well being of the people. Prosperous nation - higher GDP increased economic activities; should be seeing fiscal spending here. Well being of the people - higher disposable income; should be targeting subsidies related. People happy, market gogogo?
Ok, standby funds for Monday actions then :) higher disposable income means families can enjoy cooling breeze at the theme park. Higher ticket sales and hotel bookings right? Stable government higher FDI and higher tourists right?
Genting's growth will be phenomenal with RWS2.0 and assuming RWNYC successfully secure the full casino license. Well, there is the wild card on hands which is TauRx. You can see the strategy TauRx is pursuing now. UK Mhra first and results should be out by 1st Dec assuming 1st July is the acceptance date. I bet TauRx will only make a move for US and Canada followed by Europe after UK MHRA
not gonna wait until Monday, Nick? there's still a month's time before Q3 results is announced. Mr. Market will probably give hints in the next few weeks.
depending on what you are eyeing, tim foo. I am eyeing for growth opportunity of RWNYC full casino license and the results will only be available next year. As such, I cant be adding every week :) From risk perspective, its budget day, I have positions on hands; hence, no rush to add though we did not see any commentaries from the media/economists/tax experts on sin tax that could hit Genting/GenM. RAV Bahamas court case surfaced a potential good news - exit from Bimini business which is part of the US segment.
you are welcome, tim foo. assuming GenM maintain min 15 cents dividend yearly, you would have collected a total of 24 cents dividend per share from end of last year to Apr'25. And if I am not mistaken, your avg price is around 2.45 and that means it will only be attractive for you if market price is at 2.20 and lower. just my opinions, could be wrong. hope it helps.
Ooh congrats on your positive return, tim foo. You can lay out your strategies again considering the headwinds, dividends and your own tp target :) Keep it up.
I have not heard of minimum wage salary impact for Genting in the past. probably their employees' salaries are way higher than that. Such salaries are typically operators in the manufacturing/production, domestic helpers, lower level workers in public services perhaps.
ermm... not so straightforward, kok boon liu. different fiscal policies that gov can adopt and pretty much depends on the state of the nation. you either go with (1) fiscal expansion - increase spending and cut taxes to reverse economic downturn. we saw this during the pandemic phase. often it ends up with economy recovery, higher budget deficit, higher national debt level and inflation goes up (2) fiscal contraction - reduce spending and increase taxes to slow down economic activities to control inflation and reduce deficit, reduce debt. Our government doing its due diligence to prevent further burden to national debt while being conscious about the need to move the country forward - prosperous nation, well being of the people. So, opt for the middle path (3) fiscal consolidation - control spending, some form of tax increase to reduce deficit and manage the debt better. That's what you are seeing from this budget - reduce subsidies, tax increases in certain areas, no wow factor on massive spending or no curse factor on tax increase :), increase disposable income for lower income groups, higher minimum wage. Domestic tourism and retailers will benefit from this.
money supply or the interest rates are part of the monetary policy, Nick; central banks if you will. Basically, government uses fiscal policy and monetary policy to manage the economy. One might think of control spending means less money for growth. Not really as lower interest rates can boost growth and high capex companies / tech companies favors low interest rates :)
no impact to dividends, Nick. the 2% is relatively low compared to capital gains from the capital invested and comparing to other countries. I think government is being mindful here and its commendable.
alright, kok. the translation to english mentioned something about takes away capital from the market. Not sure if thats the meaning. I didnt notice anything on capital inflow and capital outflow related policies from the budget presented. Nevertheless, these are the topics for economists/gov.
Thanks, kok. I am in the opinion that Kamala Harris will win based on the market behavior. The rationale behind my thinking is that policies will change when different party is in power and hence market will be spooked. Looking at the financial market behavior, it's not showing signs that Trump/new administration will win. Just my opinions, could be wrong. Hope it helps.
noted, tim foo. I will wait until next year for the results of RWNYC full casino license bid. Additional bonus if Genting/GenM sell off the Bahamas segment. My only expectation for GenM in its quarterly report is to stay above 700M ebitda quarterly. No taxes/levies hit for Genting/GenM from the budget which is favourable factor. Forex is beyond its control but its favourable for GenM now. Interest rates is down which is also favourable for GenM. Management has been singing the tune of reducing interest expense which leads to deleveraging which is a big positive for GenM in the long run. Exiting Bahamas segment bodes well for its ebitda and helps with deleveraging. For me, i am looking at the following - min 700M ebitda quarterly, deleveraging over time, RWNYC full casino license. I will exit my position if the following factors are no longer meeting my expectation by next year end :)
Interesting commentaries from Moody's - On the regulatory complaint pertaining to the group’s operations at Resorts World Las Vegas LLC and a complaint by the minority shareholder of Resort World Bimini in the Bahamas, Moody’s does not expect these to result in significant financial damages and disruptions to operations.
As Is - there is no disposition from Nevada Gaming Commission yet for RWLVS complaints stemming from Sibella court case since Apr'24 while federal court has sentenced Sibella to one year of probation and a fine of $9,500 for violating a federal law requiring casinos to know the source of their customer’s funds and file a suspicious activity report. Perhaps NGC is also waiting for Genting to respond back to the complaint and to decide thereafter. https://gaming.nv.gov/gaming/complaints/stipulations/
Okay, Philip Stein is the attorney representing Genting America; top 50 Attorneys of Miami :) Defendant Genting Americas, Inc. is granted until and including November 22, 2024 to file a response/answer to Plaintiff Rav Bahamas.
yes, it is 鄭崇聖. Interest rate cut has been the topic since early this year. Powell mentioned benchmark rate moving towards neutral rate :) Which means we will continue to see gradual cut going into 2025. And US Fed believes the US economy is still strong. When the economic situation changes for good or for bad, a new neutral interest rate will be calculated. And then, Fed will then make the adjustment accordingly moving towards the new neutral rate. So, if US economic indicators showing that its slowing down, a new neutral interest rate will be lower which will then lead to bigger rate cuts to move towards neutral rate. Just my opinions, could be wrong. Hope it helps.
U.S Fed target interest to cut maybe...lower to 3.75-4%
Gens this qe.. Forex loss around 8m Sgd... But anyone know how much roughly forex gain for genm & genting since ringgit strengthen vs usd.. 4.80-4.09... Hehe
its approx 150M for every 4.5% weakening of USD, Vin. Q2'24 USDMYR rate is approx 4.7 and Q3'24 end of Sep rate is approx 4.1; equivalent to ~12.5% weakening. Lets just take the average will do which is ~4.4 exchange rate. That will give us approx 8% weakening of USD which should translate to 200M++. Just a rough estimate and could be wrong.
Lets just wait for the results, Vin. After all, I do not think funds/insti will make a move if Q3 earnings is below 250M net profit. In fact, GenM has to produce 250M for Q3 and Q4 respectively in my personal opinion to demand a valuation of min 3.00 :) Funds/insti are the driver for such big cap stocks.
There is opportunity for Genting to hit the headlines within these 3 months based on the 150 days approval process from UK MHRA, Vin. The baseline assumption is no progress after so many years :) So, marketing authorization approval is big positive surprise. 20th +/- 2 days in Nov and Dec. The last date will be on the 23rd of Jan'25 based on the assumption that UK MHRA accepted the data/docs submitted for marketing authorization in Jul'24.
really? Didn't know I have such jinx power :) Lol, no pun intended. I am just a small fish in genm/genting. It should be directed to the funds/insti that collectively increased their net short positions to above 60M while on the other hands, the IBs are issuing overweight/buy calls with different TPs.
but cheng, I hard to think us fed will continue to cut interest rate when 2025 due to estimated inflation rate will increase soon ( so many hot money pump back to America,again)...for my opinion,Us Fed will be cut twice times more,when interest rates come to 4%,it will be stop or add rates soon
That's how the US Fed works, 鄭崇聖; benchmark interest rates towards neutral rates. As far as I am aware, the current neutral rates baseline is at ~3%. Hence, we can expect "gradual" interest rate cut instead of aggressive cut towards 3% due to the current state of the economy.