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CIMB - Buy call, target price S$2.70
(SINGAPORE) In a bid to ensure that Singapore's two integrated resorts are among the cleanest in the industry, the government has set new regulatory standards in junket licensing - the likes of which, some gaming insiders say, are unprecedented.
Hope by mid 2011 or earlier,the gov will issue the junket license to the casino operators.
No one shout
Cheong arrhhhhhhhh..............................
Must shout, then it can cheong!
Recently I heard on TV that the govt wants to clamp down on "luring" advertisements on big winners by public at casinos as a mean to prevent operators from tempting players to the casinos. I think such measures are negative for the stocks. Selling is better if you are in profit position. Don't lose it..
Players in the two casinos lost $52.5 million every month since the casinos started. Wah lau, looking for one man making $52 everyday in the stock market is not quite easy. How can gambling be fun?
good, let see if cny will help !
niuyear ( Date: 13-Jan-2011 13:07) Posted:
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Philips Capital upgrade their call to buy... target price at S$2.76...
Singapore Casinos Add S$420 Million to State Coffers
By Andrea Tan - Jan 11, 2011 3:00 PM GMT+0800
Singapore’s two casino resorts, run by Genting Singapore Plc and Las Vegas Sands Corp., contributed S$420 million ($324 million) in net revenue to the city-state in the April to November 2010 period.
The government's revenue from the two casinos will be placed in a consolidated fund, Second Finance Minister Lim Hwee Hua said in Parliament today.
The two casinos helped Singapore’s gross domestic product expand 14.7 percent in 2010, Senior Minister of State for Trade and Industry S. Iswaran said on Jan. 10. Last year’s economic growth probably made the city of 5 million people the fastest- growing economy in the world after Qatar, according to International Monetary Fund estimates.
The casinos opened in Singapore last year after a four- decade ban was lifted to help boost tourism revenue and shed what Prime Minister Lee Hsien Loong called an “unexciting image.” In 2002, Lee rejected a proposal for casinos, saying they could lead to “undesirable activities” such as money laundering, illegal lending and organized crime.
A total of 31,316 Singaporeans were banned from the casinos under exclusion orders, Vivian Balakrishnan, Minister for Community Development, Youth and Sports, said today in Parliament.
‘Outstanding Results’
Genting’s Resorts World Sentosa and Marina Bay Sands may post $2.8 billion in casino revenue in 2010 and $5.5 billion this year, the Today newspaper reported on Dec. 21, citing PricewaterhouseCoopers LLP.
The “outstanding results” at the Marina Bay Sands contributed to Las Vegas Sands’ third-quarter earnings, which topped analysts’ estimates, Sands Chairman Sheldon Adelson said on Oct. 28.
Singapore’s government in September stopped all bus shuttle services between local town centers and the casinos, saying promotional efforts should be confined to tourists. The Southeast Asian nation, which is planning to review its rules governing casinos, has also set up the Casino Crime Investigation Branch and a National Council on Problem Gambling.
“As both casinos have been operating for less than a year, it would be premature to draw a conclusion on the impact of the casinos on local problem gambling or the adequacy of our social safeguards,” Balakrishnan said.
The government plans to stop the casinos from “asymmetric and unfair publicity” where their customers’ gaming winnings are publicized on their websites, Balakrishnan said.
To contact the reporter on this story: Andrea Tan in Singapore at atan17@bloomberg.net
To contact the editor responsible for this story: Douglas Wong at dwong19@bloomberg.net; Lars Klemming at lklemming@bloomberg.net
Genting 车阿。。。。。。。。。。。。。
any good news???
You are right...
Even when the economy is bad and gloomy, people still gamble...
In fact, for obvious reasons, people are more prone to
gamble even more when times are bad...
Always remember this :
Casino is new to singaporeans (when it was operated in Feb last year), but , Gambling is not new to us, especially those of chinese dominated country.
Last year,the RWS drew a big crowd to its casino, and for the coming chinese new year, we probably will see even more of the foreign visitors coming to casinos and the IRs. Though the gaming industry is very much an 'untested' market in singapore, (but had been tested positive based on its share price movement), most people are optimistic about its prospect in years to come. For those who are pessimistic, perhaps, should just adopt wait and see strategy. :)
The 2 resorts' plan this year will boost economic and tourism growth.
Marina Bay Sands, owned by Las Vegas Sands, is scheduled to open the world’s first ArtScience Museum in February while
Genting’s Resorts World will open its Maritime Xperiential Museum by midyear, with two more hotels and a marine life park to come after.
Going to join GLP very soon at 2.14. 
u should say :let's hope that citi is right!!"
krisluke ( Date: 08-Jan-2011 22:42) Posted:
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citi is right, of course !!
different view from broking houses, citi just released a report citing $2.75 as TP for genting. let's see who is right
Last qtr result should be better than qtr3. Bc of festive season n school holiday. And that may trigger Gent SP price beyond what extimated by UOB
bishan22 ( Date: 08-Jan-2011 16:05) Posted:
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!!!
wow...u sure thing or not? aura says the opposite. Then again Gaecia can be so confused by all the geniuses here. Lol
iPunter ( Date: 08-Jan-2011 16:20) Posted:
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It may play around 2 first...