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FEAR NOT. FEAR NOT. FEAR NOT. IT IS UNLIKELY TO DROP LIKE A KNIFE. IT STILL MAKE $. ONLY LESS. FEAR NOT.
Bro bishan, openning will drop a few cts aredi lei. So support back to 1.40 range?
bishan22 ( Date: 03-May-2013 07:27) Posted:
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Results disappointing. Short. 
Finally i can re-enter again???? I wonder
Wah! Believe today had caught many people.tommorow no eye see
Genting Singapore, owner of Resorts World Sentosa, on Thursday reported a 44 per cent slump in its net profit to shareholders for the first quarter to S$115.88 million, from S$205.46 million previously.
Revenue for the three-month period ended March 31 had fallen 15 per cent to S$669.61 million from S$786.88 million a year earlier.
The group attributed the 20 per cent decline in its gaming turnover to S$521.18 million to a smaller win percentage in its premium players' business.
Its non-gaming business remained healthy, posting a year-on-year 17 per cent growth in revenue to S$148.04 million.
It is always hard to say how the market will react due to luck factor, but since it has went up quite a lot, then a pull back is very likely.
This stock is very sensitive to its financial results. Tomorrow may be a bad day ....
not gonna see it cross 1.7 again. Again...another round of waiting
oldflyingfox ( Date: 02-May-2013 21:15) Posted:
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Q1 result is below expectation.
-> http://sg.finance.yahoo.com/news/1-gamblers-lucky-gentings-singapore-122308067.html
gg
But what is your predication from here onward at $1.61 just before Q1 result after close today?
Genting, wat a bounce since we predicted a crash to a bottom at 138-39 for a bounce
for more details , see my genting chart tq
hello123 ( Date: 18-Apr-2013 14:54) Posted:
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- Las Vegas Sands Corporation (LVS) announced its 1QFY13 results yesterday. LVS' results were above consensus estimates due to strong performances from the casinos in Macau and Singapore.
- LVS' subsidiary, Marina Bay Sands (MBS) reported a 16.5% QoQ expansion in revenue in 1QFY13 while EBITDA rose 31.2% QoQ to US$396.8mil. EBITDA margin was 49.9% in 1QFY13.
- If we were to adjust for the lower VIP win percentage in 4QFY12, then MBS' EBITDA would have declined 2.4% QoQ in 1QFY13.
- MBS benefited from a climb in the rolling chip volume and higher win percentage in the VIP segment in 1QFY13 compared with 4QFY12.
- MBS' rolling chip volume rose 10.6% QoQ to US$18.2bil in 1QFY13 while volume of business in the mass market segment improved 7.8% to US$1.2bil. Win percentage of the VIP segment inched up from 2.14% in 4QFY12 to 2.51% in 1QFY13.
- Credit extension in 1QFY13 was not as aggressive as 4QFY12. MBS' accounts receivable rose by US$41.4mil or S$66.4mil from US$1.05bil (S$1.28bil) in 4QFY12 to US$1.09bil (S$1.34bil) in 1QFY13. Provisions for doubtful debts was US$39mil (S$48.3mil) in 1QFY13 versus US$38mil (S$46.5mil) in 4QFY12.
- However for the first time in its history, MBS wrote-off accounts receivable of US$11mil (S$13.6mil) in 1QFY13.
- Hotel occupancy rates remained high at MBS in 1QFY13. Average hotel occupancy rate was 98.5% in 1QFY13 while average daily rate was US$378.
- In a separate development, Genting Singapore PLC (GenS) clarified that Mr Tan Hee Teck is neither slated to move to another post in the Genting Group nor has Resorts World Sentosa appointed any CEO-designate successor.
- In spite of the positive follow-through from MBS' results to GenS, we are maintaining a Sell on GenS due to its demanding valuations. The group is expected to release its 1QFY13 results today.
Source: AmeSecurities
Highlights
Las Vegas Sands reports its 1QFY13 results this morning and its Singapore property, Marina Bay Sands (MBS) showed a record high in its gross gaming revenue (GGR) for the quarter at US$876.2m (Yoy: +1.24% Qoq: +14.4%).
Yoy: Total volume increased across the board (rolling chip: +42.2% non-rolling chip: 2.4% slot: 1.6%) during the quarter. However, GGR turned out to be mixed due to mixed hold rate. Gross rolling chip revenue fell 0.3% from lower hold rate of 2.51% (1QFY12: 3.58%), meanwhile gross nonrolling chip revenue grew 7% as win increased by 1-ppt. Slot revenue fell 4% as slot hold decreased by 0.3-ppt.
Qoq: Gross rolling chip revenue grew by 29.7% largely due to the improvement from both volume (+10.6%) and hold rate (4QFY12: 2.14%). Non-rolling chip’s volume went up by 7.8%, bringing its revenue to a growth of 3.3% despite the lower win rate of 23.2% (4QFY12: 24.2%). However for slot machines, the volume growth of 3.6% did not managed to fully offset its lower slot hold of 5.1% (4QFY12: 5.4%), resulting in lower slot revenue (-2.2%) during the quarter.
From the conference call held earlier, management mentioned that the slot segment is still showing some weakness despite the slight growth in volume as local market have not fully recovered from the slowdown in economy last year. Majority of MBS’s VIP players are from China mainland (~70%) and Singaporean Chinese. Growth in mass volume was due to enlarged base from the entrance of new players.
As for the update on casino possibilities over in Japan, LVS’s management also shed some light, saying that the legislation could be brought to the table as early as Nov ’13 and it will take 1-2 years to get a green light. They also added that companies who stand a high change to get a license are LVS themselves and Genting Singapore.
Assuming that MBS’s rolling chip market share stays at 53%, Singapore’s VIP volume grew 36.8% yoy and 10.6% qoq respectively. Hence, we believe the overall market volume in Singapore could still be growing mildly. With that, we could foresee that GenS could also perform similarly based on MBS’s results. GenS is expected to release its results later today.
1) Regulatory risk 2) Further decline in RWS’ market share to MBS 3) Weaker-than-expected hold percentage in the VIP segment 4) Worsening in economic condition and 5) Failure in casino license renewal.
Unchanged.
HOLD
Given that share price have run 7.8% since our last report on 25th Apr, we downgrade GenS to HOLD with unchanged TP of SG$1.58 as total returns is now less than 10%.
Source: Hong Leong - 2 May 2013
Las Vegas Sands reports its 1QFY13 results this morning and its Singapore property, Marina Bay Sands (MBS) showed a record high in its gross gaming revenue (GGR) for the quarter at US$876.2m (Yoy: +1.24% Qoq: +14.4%).
Yoy: Total volume increased across the board (rolling chip: +42.2% non-rolling chip: 2.4% slot: 1.6%) during the quarter. However, GGR turned out to be mixed due to mixed hold rate. Gross rolling chip revenue fell 0.3% from lower hold rate of 2.51% (1QFY12: 3.58%), meanwhile gross nonrolling chip revenue grew 7% as win increased by 1-ppt. Slot revenue fell 4% as slot hold decreased by 0.3-ppt.
Qoq: Gross rolling chip revenue grew by 29.7% largely due to the improvement from both volume (+10.6%) and hold rate (4QFY12: 2.14%). Non-rolling chip’s volume went up by 7.8%, bringing its revenue to a growth of 3.3% despite the lower win rate of 23.2% (4QFY12: 24.2%). However for slot machines, the volume growth of 3.6% did not managed to fully offset its lower slot hold of 5.1% (4QFY12: 5.4%), resulting in lower slot revenue (-2.2%) during the quarter.
From the conference call held earlier, management mentioned that the slot segment is still showing some weakness despite the slight growth in volume as local market have not fully recovered from the slowdown in economy last year. Majority of MBS’s VIP players are from China mainland (~70%) and Singaporean Chinese. Growth in mass volume was due to enlarged base from the entrance of new players.
As for the update on casino possibilities over in Japan, LVS’s management also shed some light, saying that the legislation could be brought to the table as early as Nov ’13 and it will take 1-2 years to get a green light. They also added that companies who stand a high change to get a license are LVS themselves and Genting Singapore.
Assuming that MBS’s rolling chip market share stays at 53%, Singapore’s VIP volume grew 36.8% yoy and 10.6% qoq respectively. Hence, we believe the overall market volume in Singapore could still be growing mildly. With that, we could foresee that GenS could also perform similarly based on MBS’s results. GenS is expected to release its results later today.
Risks
1) Regulatory risk 2) Further decline in RWS’ market share to MBS 3) Weaker-than-expected hold percentage in the VIP segment 4) Worsening in economic condition and 5) Failure in casino license renewal.
Forecasts
Unchanged.
Rating
HOLD
- Positives – (1) Duopoly industry and (2) Lower tax rates compared to regional peers.
- Negatives – (1) Highly regulated industry and (2) Earnings from gaming operations are highly dependable on luck factor and hold rates.
Valuation
Given that share price have run 7.8% since our last report on 25th Apr, we downgrade GenS to HOLD with unchanged TP of SG$1.58 as total returns is now less than 10%.
Source: Hong Leong - 2 May 2013
I think today ramp up is related to the good result from Sands, GSP is releasing the Q1 result tonite.
Below is link of the Sands news from yahoo:
http://sg.finance.yahoo.com/news/macau-helps-las-vegas-sands-205018413.html
The spike probably came from Las Vegas Sands’ results offers broadly positive read-through into the Singapore market. LVS management noted strong financial results in Singapore, with meaningful growth in gaming and non-gaming revenues.
Marina Bay Sands delivered a record US$18.2b Rolling Chip volume, +42.2% y/y, +10.5% q/q. Meanwhile, Non-Rolling Chip drop increased 2.4% y/y to US$1.19b, and slot handle inched up 1.6% to US$2.79b. EBITDA at US$396.8m was up 31.2% q/q, but down 16.0% y/y, with the lumpiness due to luck factor (Rolling Chip win 1Q13: 2.51%, 4Q12: 2.14%, 1Q12: 3.58%). The high margin hotel room and mall segments continued to reflect strong revenue growth, with occupancy remaining high at 98.5% during the quarter.
BOA-ML’s upgrade to Buy last wk, with TP $1.81, citing that earnings have hit a trough and could surprise in the next few quarters. AmFraser however, while acknowledging positive read-through from MBS’ results to GENS, maintains Sell on the latter due to demanding valns. GENS will release 1Q13 results today after mkt.
You are rite.I read it somewhere yesterday,somehow could not find the article again.
Thanks for sharing.
oldflyingfox ( Date: 02-May-2013 09:57) Posted:
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This report was not true, it has clarified in the SGX website:
The Company refers to the article appearing on page B8 of today’s edition of The Straits Times (“Former top civil servant tipped to head RWS”).
The Company would like to clarify that Mr. Tan Hee Teck is neither slated to move to another post in the Genting Group, nor has Resorts World Sentosa (“RWS”) appointed any CEO-designate successor. Mr. Goh Chye Boon joined RWS as Executive Vice President of Resort Operations in January 2013 and currently oversees the operational non-gaming functions of RWS. Previously heading up the China Business Partnership unit of Government Investment Corporation Singapore, he also held various positions in the private and public sector, and was the CEO of the Sino-Singapore Tianjin Eco-City, a flagship project between the People’s Republic of China and the Singapore Government.
Octavia ( Date: 02-May-2013 09:37) Posted:
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Sold at 1.61, too good to believed it will ramp up further.