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pharoah88 ( Date: 12-May-2011 15:19) Posted:
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pharoah88 ( Date: 12-May-2011 15:29) Posted:
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SINGAPORE
Analysts say they expect stocks of gaming companies such as Genting Singapore to stage a strong rebound in coming weeks.
This is due to easing concerns over Genting’s profit outlook and expectations of higher tourist arrivals that will provide a boost to earnings.
Analysts are bullish about the long-term prospects of the two integrated resorts here as tourist arrivals are expected to continue to rise over the next two to three years.
“The medium- to long-term story for tourism remains very strong,” says Mr Wong Sui Jau, Fundsupermart general manager, citing the 20 per cent growth in tourist arrivals last year.
However, some market watchers say the local gaming industry could face a policy risk. In a report on Monday, Nomura Equity Research said “investors may be concerned about sectors such as residential and gaming, which may be affected as a result of policy review”.
Genting shares traded at a low of S$2.08 to as high as $2.24 last week. They have since rebounded to close at $2.20 yesterday.
In a May 9 report, Credit Suisse research analyst Foong Wai Loke said the market consensus for Genting’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) remains very wide, ranging from S$1.4 billion to S$2.3 billion.
“This we believe contributes to its lacklustre share price performance,” his report said.
Still, Credit Suisse believes Genting can also benefit from the region’s active stock market which could be positive for VIP casino revenues, as well as strong commodity prices in Malaysia.
Ahead of Genting’s results announcement today, analysts said investors would rather sit on the sidelines.
“Genting’s results may surprise us. So I would say the verdict is still not out yet,” said Mr Liu Jinshu, investment analyst at SIAS Research, adding that investors will be looking closely at Genting’s profit margin and whether it will beat the lower-than-expected first-quarter results of Marina Bay Sands.
Last week, Marina Bay Sands’ parent company, Las Vegas Sands, reported that the profit margin at the Singapore resort was 48.6 per cent, down from 54.6 per cent in the fourth quarter of last year.
Analysts at Mumbai-based financial group IIFL which initiated coverage on Genting believes the stock is well-placed to capture the rise of gaming in Asia.
In a report on Monday, IIFL estimated the Asia-Pacific casino gaming sector would grow 24 per cent yearly to US$62.9 billion from last year to 2014.
Singapore, in particular, will be able to tap into this given its position as a gateway to South-east Asia.
— The chips were down for the local gaming sector last week but its fortunes are set to change.Fortune likely to favour Singapore’s gaming sector
Julie Quek
juliequek@mediacorp.com.sg
Analysts are bullish about the long term prospects of the two integrated resorts here as tourist arrivals are expected to continue to rise over the next two to three years.
Not likely, result should come by end ds coming Fri, if AK dídn't guess wrongly.
Sand lately result may hv some impact on GSP prior to its 1Q performance.
U may consider to acc some or sell some! AK no sell, but may consider to acc some when date closes.
Incinerate13 ( Date: 11-May-2011 21:09) Posted:
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Ha ha, its not a bad buy if it below 2.20. But looking at the trend n market sentiment, if u can get below 2.20, its a bonus. However, if u r a challenger, buying above 2.20 earliest, not a bad try as well.
AK still hv those bt at 0.68(R), 0.985, 1.16, 1.91 and even 2.11 latest. Fingers cross liao. Cheers.
gabjen ( Date: 11-May-2011 12:41) Posted:
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AK_Francis ( Date: 10-May-2011 23:57) Posted:
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if gsp is still at 2.1, i will give it a try..
now it's at 2.2, i am not interested.
look at other counters instead.. so many counters releasing earnings these few days
aleoleo ( Date: 11-May-2011 11:55) Posted:
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Genting will annouce result after tomorrow market close ..... will it be good? can buy now and wait for the good news to come the next day ??
any hints ? any sifu care to share ?
Ha ha, AK apology, met people session in kopitiam with Carlsberg to celebrate Amy winning, after looking at all green in STI after market opened, ds morning.
Certainly, it will pass 2.3 even record high of 2.35 in time to come, with no calamity happening in global market loh.
eplepl ( Date: 10-May-2011 13:50) Posted:
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Genting Singapore Plc (GENS SP), operator of one of two casino resorts in the city-state, gained 0.5% to $2.18. IIFL Research, a unit of brokerage India Infoline, initiated coverage of Genting Singapore with a “buy” rating and a share-price forecast of $2.62.
AK_Francis ( Date: 10-May-2011 10:12) Posted:
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Last 1Q was on Thu 13 May 10. Coming 13 is on Fri, Fri is a better day for result announcement, esp after trading ends.
Ha ha, big wok, I thought yesterday no trading, hence didn't even border on d trading.
Splendid, it up 7 cts yesterday n hit 2.20 ds morning, more good yrs liao. Cheers for d last GE, though Mr Yeo didn't make it.
eplepl ( Date: 09-May-2011 15:18) Posted:
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Genting Singapore Plc (GENS SP), operator of one of two casino resorts in the city-state, jumped 2.4 percent to S$2.15. The company said it agreed to sell its entire 11 percent stake in Rank Group Plc, the operator of Bingo clubs and Grosvenor casinos, at 150 pence a share. The sale, which could raise about 64.6 million pounds ($105.7 million), will be completed on May 11.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/05/08/bloomberg1376-LKWIAT07SXKX01-6RKMAKG304TNHOOOPREJMN6DKN.DTL#ixzz1LovpDzNy
Big mouth associates with Sexy!
Overheard that: Big mouth woman eats up the husband?? True of False?
niuyear ( Date: 05-May-2011 18:53) Posted:
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Rosie Huntington-Whiteley