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Latest Forum Topics / Genting Sing    Last:0.615 --  Post Reply
GoldenAgr
Puppylearn
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24-Jul-2018 16:56     
 
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 Alert Admin 		This time majority wait for Japan news, more $$

Trader130      ( Date: 24-Jul-2018 16:46) Posted:

Hope so .... but likely once get dividend will reinvest again once eX... or Morgan stanley sell again hahah

Puppylearn      ( Date: 24-Jul-2018 16:22) Posted:

Yes, this terms Getting earn also. Look like want to remind the same dividend rate


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Trader130
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24-Jul-2018 16:46     
 
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 Alert Admin 		Hope so .... but likely once get dividend will reinvest again once eX... or Morgan stanley sell again hahah

Puppylearn      ( Date: 24-Jul-2018 16:22) Posted:

Yes, this terms Getting earn also. Look like want to remind the same dividend rate

Trader130      ( Date: 24-Jul-2018 16:14) Posted:

Anyone knows what is the occupancy rate for hotels at RWS everyday? If we know then roughly can guage Quarterly Revenue up or down 💲 💲 💲
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Puppylearn
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24-Jul-2018 16:22     
 
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 Alert Admin 		Yes, this terms Getting earn also. Look like want to remind the same dividend rate

Trader130      ( Date: 24-Jul-2018 16:14) Posted:

Anyone knows what is the occupancy rate for hotels at RWS everyday? If we know then roughly can guage Quarterly Revenue up or down 💲 💲 💲

Johngenting      ( Date: 24-Jul-2018 15:40) Posted:

一 寸 光 陰 一 寸 金 ， ， ， 小 林 不 本 💖
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Trader130
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24-Jul-2018 16:14     
 
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 Alert Admin 		Anyone knows what is the occupancy rate for hotels at RWS everyday? If we know then roughly can guage Quarterly Revenue up or down 💲 💲 💲

Johngenting      ( Date: 24-Jul-2018 15:40) Posted:

一 寸 光 陰 一 寸 金 ， ， ， 小 林 不 本 💖

Puppylearn      ( Date: 24-Jul-2018 15:39) Posted:

Here can let's u 一 步 上 天 ， 一 步 下 地 狱 。 When u sit on the gambling table, u will know it This few day like saving account everyday top up a litter a litter My house coffee look like no more liao, 林 先 生 please budget more dividend for me drink at hotel better yah, thks
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Johngenting
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24-Jul-2018 15:40     
 
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 Alert Admin 		一 寸 光 陰 一 寸 金 ， ， ， 小 林 不 本 💖

Puppylearn      ( Date: 24-Jul-2018 15:39) Posted:

Here can let's u 一 步 上 天 ， 一 步 下 地 狱 。 When u sit on the gambling table, u will know it This few day like saving account everyday top up a litter a litter My house coffee look like no more liao, 林 先 生 please budget more dividend for me drink at hotel better yah, thks

Trader130      ( Date: 24-Jul-2018 12:36) Posted:

Gaming industries likely profitables business in long years ahead.. People usually greedy and ignorance   esp when gambling ... . Its a matter of how much they lost... 十 赌 九 输 。 no other comment liao🤣 🤣 🤣
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Puppylearn
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24-Jul-2018 15:39     
 
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 Alert Admin 		Here can let's u 一 步 上 天 ， 一 步 下 地 狱 。 When u sit on the gambling table, u will know it This few day like saving account everyday top up a litter a litter My house coffee look like no more liao, 林 先 生 please budget more dividend for me drink at hotel better yah, thks

Trader130      ( Date: 24-Jul-2018 12:36) Posted:

Gaming industries likely profitables business in long years ahead.. People usually greedy and ignorance   esp when gambling ... . Its a matter of how much they lost... 十 赌 九 输 。 no other comment liao🤣 🤣 🤣

Johngenting      ( Date: 24-Jul-2018 12:07) Posted:

Tomorrow Marina bay financial report day let's LAT..
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Trader130
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24-Jul-2018 12:36     
 
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 Alert Admin 		Gaming industries likely profitables business in long years ahead.. People usually greedy and ignorance   esp when gambling ... . Its a matter of how much they lost... 十 赌 九 输 。 no other comment liao🤣 🤣 🤣

Johngenting      ( Date: 24-Jul-2018 12:07) Posted:

Tomorrow Marina bay financial report day let's LAT...

Trader130      ( Date: 23-Jul-2018 15:53) Posted:

当 下 一 针 见 血 ， 看 透 公 司 财 务 何 怕 呢 钱 身 外 之 物 生 不 带 来 死 不 带 去 知 道 自 己 在 干 嘛 就 可 。 人 的 一 生 能 吃 多 少 用 多 少 睡 多 少 位 子 😄   知 足 便 常 乐 无 所 求 只 愿 平 安 吉 祥 身 体 健 康 足 矣 啊 🙏 🙏 🙏
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Johngenting
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24-Jul-2018 12:07     
 
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 Alert Admin 		Tomorrow Marina bay financial report day let's LAT...

Trader130      ( Date: 23-Jul-2018 15:53) Posted:

当 下 一 针 见 血 ， 看 透 公 司 财 务 何 怕 呢 钱 身 外 之 物 生 不 带 来 死 不 带 去 知 道 自 己 在 干 嘛 就 可 。 人 的 一 生 能 吃 多 少 用 多 少 睡 多 少 位 子 😄   知 足 便 常 乐 无 所 求 只 愿 平 安 吉 祥 身 体 健 康 足 矣 啊 🙏 🙏 🙏

Johngenting      ( Date: 23-Jul-2018 15:42) Posted:

十 年 有 血 有 淚 。 。 。 。 。 Dint tell me have to wait for another 10 years....有 錢 沒 命 使
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Trader130
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23-Jul-2018 15:53     
 
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 Alert Admin 		当 下 一 针 见 血 ， 看 透 公 司 财 务 何 怕 呢 钱 身 外 之 物 生 不 带 来 死 不 带 去 知 道 自 己 在 干 嘛 就 可 。 人 的 一 生 能 吃 多 少 用 多 少 睡 多 少 位 子 😄   知 足 便 常 乐 无 所 求 只 愿 平 安 吉 祥 身 体 健 康 足 矣 啊 🙏 🙏 🙏

Johngenting      ( Date: 23-Jul-2018 15:42) Posted:

十 年 有 血 有 淚 。 。 。 。 。 Dint tell me have to wait for another 10 years....有 錢 沒 命 使

Trader130      ( Date: 23-Jul-2018 15:18) Posted:

十 年 后 的 今 天 可 能 会 发 生 钱 有 未 有 的 大 新 闻 。 Cross lips💋 👄 👀
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Johngenting
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23-Jul-2018 15:42     
 
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 Alert Admin 		十 年 有 血 有 淚 。 。 。 。 。 Dint tell me have to wait for another 10 years....有 錢 沒 命 使

Trader130      ( Date: 23-Jul-2018 15:18) Posted:

十 年 后 的 今 天 可 能 会 发 生 钱 有 未 有 的 大 新 闻 。 Cross lips💋 👄 👀

Johngenting      ( Date: 23-Jul-2018 15:00) Posted:

十 年 前 往 下 來 了 ， 10,years already ...O
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Trader130
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23-Jul-2018 15:18     
 
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 Alert Admin 		十 年 后 的 今 天 可 能 会 发 生 钱 有 未 有 的 大 新 闻 。 Cross lips💋 👄 👀

Johngenting      ( Date: 23-Jul-2018 15:00) Posted:

十 年 前 往 下 來 了 ， 10,years already ...OG

Trader130      ( Date: 23-Jul-2018 14:54) Posted:

喝 多 几 滴 奶 就 有 力 🐂
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Johngenting
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23-Jul-2018 15:00     
 
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 Alert Admin 		十 年 前 往 下 來 了 ， 10,years already ...OG

Trader130      ( Date: 23-Jul-2018 14:54) Posted:

喝 多 几 滴 奶 就 有 力 🐂

Johngenting      ( Date: 23-Jul-2018 13:45) Posted:

Abe 給 人 民 TI
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Trader130
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23-Jul-2018 14:54     
 
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 Alert Admin 		喝 多 几 滴 奶 就 有 力 🐂

Johngenting      ( Date: 23-Jul-2018 13:45) Posted:

Abe 給 人 民 TIL

Johngenting      ( Date: 23-Jul-2018 13:43) Posted:

無 力 了
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Johngenting
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23-Jul-2018 13:45     
 
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 Alert Admin 		Abe 給 人 民 TIL

Johngenting      ( Date: 23-Jul-2018 13:43) Posted:

無 力 了

Trader130      ( Date: 23-Jul-2018 12:34) Posted:

快 拿 鞭 子 🤣 🤣 🤣
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Johngenting
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23-Jul-2018 13:43     
 
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 Alert Admin 		無 力 了

Trader130      ( Date: 23-Jul-2018 12:34) Posted:

快 拿 鞭 子 🤣 🤣 🤣

Johngenting      ( Date: 23-Jul-2018 08:50) Posted:

Let's see today got 50k VOLUMES ?來 來 來 MUSANG KING cheap chea
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Trader130
Supreme
23-Jul-2018 12:34     
 
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 Alert Admin 		快 拿 鞭 子 🤣 🤣 🤣

Johngenting      ( Date: 23-Jul-2018 08:50) Posted:

Let's see today got 50k VOLUMES ?來 來 來 MUSANG KING cheap cheap

Goldfinger      ( Date: 23-Jul-2018 08:48) Posted:

Good Good, thanks. Got another week or so to run at least
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Trader130
Supreme
23-Jul-2018 12:28     
 
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 Alert Admin 		Hmmm说 的 也 是 👍

Puppylearn      ( Date: 23-Jul-2018 11:59) Posted:

Confirm, only see which place can get. 榴 莲 要 等 的 那 有 爬 上 去 采 😂

Trader130      ( Date: 23-Jul-2018 10:23) Posted:

榴 莲 Pun Boh   BAo Jia.So confident get license🤣 🤣 🤣
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Puppylearn
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23-Jul-2018 11:59     
 
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 Alert Admin 		Confirm, only see which place can get. 榴 莲 要 等 的 那 有 爬 上 去 采 😂

Trader130      ( Date: 23-Jul-2018 10:23) Posted:

榴 莲 Pun Boh   BAo Jia.So confident get license🤣 🤣 🤣

gopguppy      ( Date: 23-Jul-2018 10:02) Posted:

Genting Singapore - The Last Potentially Great Gaming Market Opens Up



Author: simonsg     |     Publish date: Sun, 22 Jul 2018, 09:41 AM

Maintain BUY Call and SGD1.46 Target Price

  • Japan has liberalised its casino industry. Many issues have yet to be finalised but we opine that Genting Singapore (GENS) stands a good chance to win a license thanks to its responsible gaming experience and solid net cash position. 
  • Pundits estimate that Japanese gross gaming revenue (GGR) could be between USD6b-USD40b p.a. (2017 Singapore: USD4.6b). 
  • Our estimates, BUY call and SGD1.46 Target Price based on 12x FY18 EV/EBITDA, in-line with the 9-year 12M forward EV/EBITDA mean, are unchanged for now.

Japanese Casino Industry Finally Liberalised



The House of Councillors of the Japanese Diet passed the Integrated Resorts (IR) Implementation Bill last Friday. It was the last of three bills needed to legalise the Japanese casino industry. Its salient  points are:-
  1. Cap of three IRs during the first stage of liberalisation
  2. Casino floor area capped at 3% of total floor area
  3. Gaming tax rate set at 30% of GGR
  4. Japanese will be subject to JPY6,000 entry fee every 24 hours and their number of visits limited to three weekly and ten monthly.

Integrated Resorts Licenses Likely to be Issued in 2020



Going forward,
  1. a casino control commission will be established
  2. about 300 additional regulations will be set
  3. an RFP process will be set for gaming operators and prefectures who are expected to submit joint bids
  4. a NGO similar to the National Council on Problem Gambling in Singapore will be created to handle responsible gaming issues.


Consensus expects the RFP process to begin in mid-2019, Integrated Resorts  licenses to be issued some time in 2020 and the first Integrated Resorts to open in 2025.
 

Many Issues Yet to be Determined Though



The outstanding issues are
  1. location of the Integrated Resorts -  Osaka, Yokohama, Wakyama, Nagasaki and Tomakomai are among > 20 cities that have expressed interest in Integrated Resorts.
  2. whether one gaming operator can partner only one prefecture or whether multiple gaming operator can partner multiple prefectures/
  3. capex commitments.
  4. whether foreign gaming operators will be allowed to wholly own Integrated Resorts and
  5. whether Macau style junkets will be allowed.


 

GENS in Good Stead to Win a License, in Our View



Throughout the legislative process, we note that Japanese lawmakers made repeated references to the social safeguards installed in Singaporean IRs (i.e. entry fees, visit limits and research on gambling addiction). Therefore, we gather that gaming operators that operate in Singapore like GENS will have an advantage over others that do not. 

With its huge net cash pile of SGD3.0b as at end-1Q18, we also opine that GENS' financial position is better than many of the debt laden American gaming operators' and is therefore, better financed to see the construction of any Integrated Resorts through.

For now, we have not imputed any earnings or valuation contribution from any potential Japanese IR into our GENS earnings estimates and Target Price.

Source: Maybank Kim Eng Research - 22 Jul 2018


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Trader130
Supreme
23-Jul-2018 10:23     
 
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 Alert Admin 		榴 莲 Pun Boh   BAo Jia.So confident get license🤣 🤣 🤣

gopguppy      ( Date: 23-Jul-2018 10:02) Posted:

Genting Singapore - The Last Potentially Great Gaming Market Opens Up



Author: simonsg     |     Publish date: Sun, 22 Jul 2018, 09:41 AM

Maintain BUY Call and SGD1.46 Target Price

  • Japan has liberalised its casino industry. Many issues have yet to be finalised but we opine that Genting Singapore (GENS) stands a good chance to win a license thanks to its responsible gaming experience and solid net cash position. 
  • Pundits estimate that Japanese gross gaming revenue (GGR) could be between USD6b-USD40b p.a. (2017 Singapore: USD4.6b). 
  • Our estimates, BUY call and SGD1.46 Target Price based on 12x FY18 EV/EBITDA, in-line with the 9-year 12M forward EV/EBITDA mean, are unchanged for now.

Japanese Casino Industry Finally Liberalised



The House of Councillors of the Japanese Diet passed the Integrated Resorts (IR) Implementation Bill last Friday. It was the last of three bills needed to legalise the Japanese casino industry. Its salient  points are:-
  1. Cap of three IRs during the first stage of liberalisation
  2. Casino floor area capped at 3% of total floor area
  3. Gaming tax rate set at 30% of GGR
  4. Japanese will be subject to JPY6,000 entry fee every 24 hours and their number of visits limited to three weekly and ten monthly.

Integrated Resorts Licenses Likely to be Issued in 2020



Going forward,
  1. a casino control commission will be established
  2. about 300 additional regulations will be set
  3. an RFP process will be set for gaming operators and prefectures who are expected to submit joint bids
  4. a NGO similar to the National Council on Problem Gambling in Singapore will be created to handle responsible gaming issues.


Consensus expects the RFP process to begin in mid-2019, Integrated Resorts  licenses to be issued some time in 2020 and the first Integrated Resorts to open in 2025.
 

Many Issues Yet to be Determined Though



The outstanding issues are
  1. location of the Integrated Resorts -  Osaka, Yokohama, Wakyama, Nagasaki and Tomakomai are among > 20 cities that have expressed interest in Integrated Resorts.
  2. whether one gaming operator can partner only one prefecture or whether multiple gaming operator can partner multiple prefectures/
  3. capex commitments.
  4. whether foreign gaming operators will be allowed to wholly own Integrated Resorts and
  5. whether Macau style junkets will be allowed.


 

GENS in Good Stead to Win a License, in Our View



Throughout the legislative process, we note that Japanese lawmakers made repeated references to the social safeguards installed in Singaporean IRs (i.e. entry fees, visit limits and research on gambling addiction). Therefore, we gather that gaming operators that operate in Singapore like GENS will have an advantage over others that do not. 

With its huge net cash pile of SGD3.0b as at end-1Q18, we also opine that GENS' financial position is better than many of the debt laden American gaming operators' and is therefore, better financed to see the construction of any Integrated Resorts through.

For now, we have not imputed any earnings or valuation contribution from any potential Japanese IR into our GENS earnings estimates and Target Price.

Source: Maybank Kim Eng Research - 22 Jul 2018

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gopguppy
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23-Jul-2018 10:02     
 
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 Alert Admin

Genting Singapore - The Last Potentially Great Gaming Market Opens Up



Author: simonsg     |     Publish date: Sun, 22 Jul 2018, 09:41 AM

Maintain BUY Call and SGD1.46 Target Price

  • Japan has liberalised its casino industry. Many issues have yet to be finalised but we opine that Genting Singapore (GENS) stands a good chance to win a license thanks to its responsible gaming experience and solid net cash position. 
  • Pundits estimate that Japanese gross gaming revenue (GGR) could be between USD6b-USD40b p.a. (2017 Singapore: USD4.6b). 
  • Our estimates, BUY call and SGD1.46 Target Price based on 12x FY18 EV/EBITDA, in-line with the 9-year 12M forward EV/EBITDA mean, are unchanged for now.

Japanese Casino Industry Finally Liberalised



The House of Councillors of the Japanese Diet passed the Integrated Resorts (IR) Implementation Bill last Friday. It was the last of three bills needed to legalise the Japanese casino industry. Its salient  points are:-
  1. Cap of three IRs during the first stage of liberalisation
  2. Casino floor area capped at 3% of total floor area
  3. Gaming tax rate set at 30% of GGR
  4. Japanese will be subject to JPY6,000 entry fee every 24 hours and their number of visits limited to three weekly and ten monthly.

Integrated Resorts Licenses Likely to be Issued in 2020



Going forward,
  1. a casino control commission will be established
  2. about 300 additional regulations will be set
  3. an RFP process will be set for gaming operators and prefectures who are expected to submit joint bids
  4. a NGO similar to the National Council on Problem Gambling in Singapore will be created to handle responsible gaming issues.


Consensus expects the RFP process to begin in mid-2019, Integrated Resorts  licenses to be issued some time in 2020 and the first Integrated Resorts to open in 2025.
 

Many Issues Yet to be Determined Though



The outstanding issues are
  1. location of the Integrated Resorts -  Osaka, Yokohama, Wakyama, Nagasaki and Tomakomai are among > 20 cities that have expressed interest in Integrated Resorts.
  2. whether one gaming operator can partner only one prefecture or whether multiple gaming operator can partner multiple prefectures/
  3. capex commitments.
  4. whether foreign gaming operators will be allowed to wholly own Integrated Resorts and
  5. whether Macau style junkets will be allowed.


 

GENS in Good Stead to Win a License, in Our View



Throughout the legislative process, we note that Japanese lawmakers made repeated references to the social safeguards installed in Singaporean IRs (i.e. entry fees, visit limits and research on gambling addiction). Therefore, we gather that gaming operators that operate in Singapore like GENS will have an advantage over others that do not. 

With its huge net cash pile of SGD3.0b as at end-1Q18, we also opine that GENS' financial position is better than many of the debt laden American gaming operators' and is therefore, better financed to see the construction of any Integrated Resorts through.

For now, we have not imputed any earnings or valuation contribution from any potential Japanese IR into our GENS earnings estimates and Target Price.

Source: Maybank Kim Eng Research - 22 Jul 2018
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