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36 comment(s). Last comment by value88 at Aug 18, 2019 3:53 PM
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kasinathan
867 posts

Posted by kasinathan > Aug 14, 2019 3:57 PM | Report Abuse

You are so naive.... The whole deal was viewed as conflict of interest and detrimental to the existing shareholder of GENM


kasinathan
867 posts

Posted by kasinathan > Aug 14, 2019 4:02 PM | Report Abuse

The asset price has been inflated so high in tandem with the prolonged economic boon in USA. It's about to enter the slump period with asset can be diminishing 50% if the past downturn can be our guru.


kasinathan
867 posts

Posted by kasinathan > Aug 14, 2019 4:02 PM | Report Abuse

Zero value article


boostmy
41 posts

Posted by boostmy > Aug 14, 2019 4:11 PM | Report Abuse

Okay, but please do elaborate on your points sir


Airline Bobby
491 posts

Posted by Airline Bobby > Aug 14, 2019 6:49 PM | Report Abuse

Nonsense lol


ttsi
14 posts

Posted by ttsi > Aug 14, 2019 7:03 PM | Report Abuse

If things work out you think they sell to you? Just like the money they make from construction you wont see a single sen


lazycat
899 posts

Posted by lazycat > Aug 14, 2019 8:01 PM | Report Abuse

conclusion is : don't buy and hold genting related stocks

management is the biggest shareholder, family control , can't do much about it, hostile take-over also no use, buy and hold long term sure mati.

unless limp cock tahi and his family hentam their own leg and do something stupid, then only got drama to watch, if not... the vampire will keep on sucking everyone else blood


boostmy
41 posts

Posted by boostmy > Aug 14, 2019 8:30 PM | Report Abuse

Suit yourselves my friends. I accept your flawed and incorrect views. I will be proven right.


PoormanTrader
82 posts

Posted by PoormanTrader > Aug 14, 2019 11:23 PM | Report Abuse

then u all in buy genm better add with margin lo, debate what la. In the market, winning a debate is useless


patient_invest
229 posts

Posted by patient_invest > Aug 15, 2019 8:54 AM | Report Abuse

boostmy is correct to say that this is a good deal. NY has very little casino, compared to Las vegas. It's the MOST VISITED city in USA
Obtaining gaming license is extremely difficult, due to moral & legal issues. Now GenM buy over another license in Catskill at a mark-up of around 50%, sounds reasonable to me.


huatahhuat
102 posts

Posted by huatahhuat > Aug 15, 2019 9:14 AM | Report Abuse

market always right.


Kong Chek Hwa
33 posts

Posted by Kong Chek Hwa > Aug 15, 2019 9:34 AM | Report Abuse

One of the best article i ever read. A very constructive analysis on the purchase and it make sense because the transaction would bring more benefit to the group, but many people don't see. Successful people are doing their best to grow the business bigger and better, instead of like so many people said LKT trying to con their money, what a pity.


boostmy
41 posts

Posted by boostmy > Aug 15, 2019 10:03 AM | Report Abuse

Thanks, just hoped to analyse things from a different angle. Media and analysts have portrayed the deal very negatively but without much reasoning.


Choivo Capital
3631 posts

Posted by Choivo Capital > Aug 15, 2019 10:06 AM | Report Abuse

Interesting.


boostmy
41 posts

Posted by boostmy > Aug 15, 2019 10:37 AM | Report Abuse

Only few more months to year 2020 and there are still people who think that there are risk-free businesses? Hahaha, pls pass your SPM first.


boostmy
41 posts

Posted by boostmy > Aug 15, 2019 11:56 AM | Report Abuse

Stay in school my friend, you need it


ttsi
14 posts

Posted by ttsi > Aug 15, 2019 12:26 PM | Report Abuse

let's talk facts .
https://www.americancasinoguide.com/casinos-by-state/new-york-casinos.html


ttsi
14 posts

Posted by ttsi > Aug 15, 2019 12:26 PM | Report Abuse

https://www.americancasinoguide.com/casinos-by-state/new-york-casinos.html


7300
2187 posts

Posted by 7300 > Aug 15, 2019 1:13 PM | Report Abuse

many incidents,who care siapa lu, only sorhais still trust


ktsk88
4929 posts

Posted by ktsk88 > Aug 15, 2019 1:30 PM | Report Abuse

GenM is buying the most important is gaming license, locality, synergies and branding in a good tourism location and the price doesn't even full blown price if they're going to built from scratch like that is happening to Genting Resort World.


patient_invest
229 posts

Posted by patient_invest > Aug 15, 2019 1:45 PM | Report Abuse

New york has one of the most lousy tourist infrastructure in the world. it has shitty airport, shit bridges, shit roads. You can use Google Map street view to see that.

But despite all the shit, NY is the MOST visited tourist attraction in USA
There's HUGE HUGE potential for hotels, theme parks, casino etc. The ang mo are too lazy to develop all these.


boostmy
41 posts

Posted by boostmy > Aug 15, 2019 1:59 PM | Report Abuse

Mind u Fox issue has been settled but it is not priced in at all.


patient_invest
229 posts

Posted by patient_invest > Aug 15, 2019 2:53 PM | Report Abuse

boostmy, can you email me at patient.invest@gmail.com


patient_invest
229 posts

Posted by patient_invest > Aug 15, 2019 2:54 PM | Report Abuse

i need to ask you some questions on GenM. thanks


karlmark
230 posts

Posted by karlmark > Aug 15, 2019 2:59 PM | Report Abuse

paid writer lo


boostmy
41 posts

Posted by boostmy > Aug 15, 2019 3:05 PM | Report Abuse

Thanks for the read, just hope more people read my analysis instead of just relying on The Star and The Edge who add little value.


boostmy
41 posts

Posted by boostmy > Aug 15, 2019 3:07 PM | Report Abuse

Hope everyone benefits from being better informed on overblown issues.


smalltimer
1498 posts

Posted by smalltimer > Aug 15, 2019 10:36 PM | Report Abuse

What's moving forward plan????


Alex™
12309 posts

Posted by Alex™ > Aug 16, 2019 12:09 PM | Report Abuse

rule no.1, market is always right.


ttsi
14 posts

Posted by ttsi > Aug 16, 2019 12:12 PM | Report Abuse

since the announcement the price has dropped from 4 to 3. Haha good ?


ttsi
14 posts

Posted by ttsi > Aug 16, 2019 12:14 PM | Report Abuse

the reasons for buying gene has disappeared. steady profit, against recession ,...


OhTheBee (otb)
4773 posts

Posted by OhTheBee (otb) > Aug 16, 2019 7:33 PM | Report Abuse

If LKT made another silly mistake , then Genm will be toasted.

If Empire every year made losses, then Genm is no more blue chip. People will shun this... U know what I mean.


rogers123
3743 posts

Posted by rogers123 > Aug 16, 2019 9:48 PM | Report Abuse

Boostmy: U hold alot of genm? Don forget Casino business wont be as good as previous. There are too many casino license. But based on my view, genm will reach 2.50 soon......


VivaVivo2017
144 posts

Posted by VivaVivo2017 > Aug 16, 2019 10:01 PM | Report Abuse

Dear boostmy,

Price Paid Is Not Very Much Cheaper
-----------------------------------
Actually Genting Malaysia will be paying only a small discount to the initial price KH paid because 2018 losses of USD 155 million.

So Genting Malaysia should be paying not more than USD 392 million less (USD 155 million x 0.84) ie USD 261 million value comparable.

Furthermore, the price did not taken into account 2019 losses which is likely to be around USD 155 million.

Sports Betting with Bet365
--------------------------
Contribution from sports betting will take awhile because there is a USD 12 million annual licence fee plus all takings will have to off-set Bet365 start-up costs. Only after that will Empire have a 50:50 share with Bet365.

New York only allows physical sports betting not online sports betting. Meaning those who bet must be at Catskills resorts.

Plan to shut Monticello Casino & Raceway
----------------------------------------
Empire plans to close its Monticello Casino & Raceway as they are currently cannibalising on Catskills. So if this plan is executed this year. You can expect further write-offs in 2019 that will impact Genting Malaysia's H2 2019 results.

Savings in interest
-------------------
The only upside for 2019, is they will save a chunk of interest expenses (latest quarter interest is USD 17 million incurred and through net savings & savings in depreciation of closure of Monticello Casino & Raceway.


Revenue must rise quickly
-------------------------
Revenue now is at USD 60 million per quarter and loss before interest is at around USD 20 million. Of the USD 60 million revenue only gaming is making significant money, ie for USD 45 million gaming revenue, they make about USD 11 million margins.

So if we are to eliminate the loss of USD 20 million, Empire will need either to improve gaming margins, current at a high of 25% compared with 15% last year or they have to increase gaming revenue by USD 100 million every quarter.


value88
694 posts

Posted by value88 > Aug 18, 2019 3:50 PM | Report Abuse

The improving GGR is quite convincing to show that Empire Resort is on the right track to breakeven. If GGR can continues to improve in quarters to come, I believe Empire Resort deal can turn from negative to positive.


value88
694 posts

Posted by value88 > Aug 18, 2019 3:53 PM | Report Abuse

I think the article above is more informative than what our local analysts have written. The analysts only stated Empire Resort has been at loss, but didn't analyse the GGR trend and etc to find out if Empire Resort has potential to breakeven in near future.

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