GENTING MALAYSIA BERHAD
KLSE (MYR): GENM (4715)
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Last Price
2.52
Today's Change
0.00 (0.00%)
Day's Change
2.50 - 2.56
Trading Volume
15,696,300
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Discussions
32 people like this. Showing 50 of 43,170 comments
a lot negative news and bad things happen to genting M ,chase away most investors ??
1 week ago
genting skyworld annual pass just announce so cheap rm280 only
lol RM280 X 1million subcribe then got 280million per annual
1 week ago
Genting Malaysia Berhad (GENM) is expected to deliver improved quarterly results for 2Q24, buoyed by a significant uptick in tourist arrivals 🔥
https://www.businesstoday.com.my/2024/08/22/genting-malaysia-bouyed-by-strong-tourist-arrivals/
1 week ago
Wonder half boiled egg 天哥 still hold GENM ? If yes, he will ask his 1/4 boiled egg followers be patient , this is long long long term investment, GENM will come back rm 4 in one day . hold long long long term really a good excuse to cover their failure stock pick ...........
5 days ago
https://www.thestar.com.my/business/business-news/2024/08/28/ringgit-no-longer-undervalued-may-hit-rm425-by-year-end-economist
Ringgit no longer undervalued, may hit RM4.25 by year-end: Economist
3 days ago
History of Resorts World New York City
Resorts World New York City (RWNYC) is a prominent casino and entertainment complex located in Queens, New York. It is the only casino within New York City's five boroughs and is situated at Aqueduct Racetrack, a historic horse racing venue.
Early History
Aqueduct Racetrack: The story of RWNYC begins with the Aqueduct Racetrack, which has been a staple of New York City's horse racing scene since its opening in 1894. Over the years, the racetrack underwent various renovations and developments, but by the late 20th century, it faced financial difficulties, leading to discussions about introducing alternative forms of gambling to boost revenue.
Development of Resorts World New York City
Legalization of Racinos: In the early 2000s, New York State legalized the development of racinos—racetracks with video lottery terminals (VLTs), which are similar to slot machines. This move was aimed at revitalizing struggling racetracks like Aqueduct.
Genting Group: The Malaysian conglomerate Genting Group, known for its global casino and resort operations, won the bid to develop a casino at Aqueduct. The project was part of a larger effort to bring more tourism and economic activity to the area.
Opening: RWNYC officially opened on October 28, 2011. Initially, it featured only VLTs and electronic table games, as New York State had not yet legalized full-scale table games.
Growth and Expansion
Continued Expansion: Over the years, RWNYC expanded its offerings, adding more gaming machines, restaurants, and entertainment options. It became one of the most profitable racinos in the United States due to its location in New York City, which has a large population and significant tourist traffic.
Full Casino License: In 2013, New York voters approved a constitutional amendment to allow full-fledged casinos in the state. However, RWNYC continued to operate primarily as a racino until further developments.
Hotel and Additional Amenities: In 2021, RWNYC expanded further with the opening of a new hotel and other amenities, making it a more comprehensive entertainment destination. This expansion aimed to attract more visitors and enhance the overall experience for guests.
Current Status
Resorts World New York City Today: RWNYC remains a significant player in the New York gaming and entertainment market. It continues to draw a large number of visitors annually, contributing to both local employment and state tax revenues. The facility's proximity to John F. Kennedy International Airport also makes it accessible to international tourists.
RWNYC has played a key role in Genting's North American operations, and there has been ongoing speculation about potential expansions or further developments, particularly in the context of New York State's evolving gaming landscape.
3 days ago
Upcoming Casino Licenses:
Three New Licenses: New York State will issue three casino licenses for the downstate region, including New York City. These licenses will allow operators to offer traditional table games like blackjack and roulette.
Competition:
Other Bidders: Major gaming operators like Las Vegas Sands, MGM Resorts, and Wynn Resorts are also competing for the licenses.
Likelihood: Genting Malaysia has a strong chance of winning a license due to its existing operations and experience, though it will face tough competition.
3 days ago
Resorts World Genting
Over the past decade, Resorts World Genting has seen substantial investments to expand and upgrade its offerings. Here are the notable projects and their investment costs:
1) SkyAvenue Mall (2016): The development of SkyAvenue Mall involved an investment of approximately RM 1.8 billion. This included the cost of constructing the mall, integrating retail spaces, dining options, and entertainment facilities.
2) Genting SkyWorlds Theme Park (2022): The theme park, which began development in 2014 and opened in 2022, saw a total investment of about RM 2 billion. This included the cost of building the park, developing various themed zones, and installing attractions and rides.
3) Genting Grand Hotel Renovation (2020-2021): The renovation of the Genting Grand Hotel was part of a larger effort to upgrade the resort’s luxury offerings. This project involved an investment of around RM 100 million.
4) Highlands Hotel Revamp (2020-2021): The revamp of the Highlands Hotel also required significant investment, estimated at RM 200 million, to modernize its facilities and improve guest experience.
5) Resorts World Genting Integrated Resort Development: Ongoing and future developments, including infrastructure improvements and additional investments, are part of a broader strategy to sustain and enhance the resort’s offerings. This involves continued investments in sustainability, new attractions, and infrastructure.
The combined investment over the past decade reflects Resorts World Genting's commitment to expanding its facilities, modernizing its infrastructure, and maintaining its position as a leading integrated resort in the region.
3 days ago
In addition to the major projects mentioned, Resorts World Genting has also undertaken other significant developments:
1) Genting Skyway (Reopened 2016): The upgrade and reopening of the Genting Skyway involved an estimated investment of RM 400 million. This included the cost of new cabins, improved systems, and infrastructure enhancements.
2) Awana Skyway (2016): The Awana Skyway project cost approximately RM 900 million. This modern cable car system replaced the older one and featured new cabins and upgraded facilities.
3) The VOID (2018): The introduction of The VOID at SkyAvenue Mall involved an investment of around RM 10 million. This immersive virtual reality experience aimed to enhance the resort's entertainment options.
4) Genting Premium Outlets (2018): The development of Genting Premium Outlets required an investment of approximately RM 400 million. This included the construction of the outlet mall and the integration of various retail outlets.
5) Enhanced Digital and Connectivity Infrastructure: Investments in digital infrastructure and connectivity improvements across the resort have varied in cost but are estimated to be in the range of RM 50 million to RM 100 million, reflecting ongoing upgrades to enhance guest experiences and operational efficiency.
These investments demonstrate Resorts World Genting's commitment to expanding and modernizing its facilities to maintain its competitive edge and appeal to a diverse range of visitors.
3 days ago
Development of Resorts World Catskills (Pre-Acquisition)
Resorts World Catskills was a project initiated by Empire Resorts before Genting Malaysia acquired the company. The $1.2 billion casino and entertainment complex opened in February 2018, located in the Catskills region of New York. At the time, Empire Resorts was managing the development and operations of Resorts World Catskills independently.
Financial Challenges and Acquisition (2019)
By 2019, despite its grand opening, Resorts World Catskills was struggling financially. The revenues were lower than expected, and the casino was facing significant operational losses. These financial difficulties put pressure on Empire Resorts, making it difficult for the company to sustain the operations and debt associated with such a large-scale project.
It was during this period of financial distress that Genting Malaysia stepped in. Seeing the long-term potential of Resorts World Catskills and the strategic value of expanding its footprint in the U.S. market, Genting Malaysia, along with Kien Huat Realty III (its controlling shareholder), initiated the process to acquire Empire Resorts.
Genting Malaysia's Acquisition (2019)
In 2019, Genting Malaysia acquired a 49% stake in Empire Resorts, while Kien Huat Realty III held the remaining 51%. This acquisition was part of a plan to take Empire Resorts private, allowing Genting to manage and potentially turn around the struggling operation.
Summary
2018: Resorts World Catskills was developed and opened by Empire Resorts, prior to Genting Malaysia’s involvement.
2019: Genting Malaysia acquired a significant stake in Empire Resorts, after the casino had opened but was facing financial challenges.
Thus, while the development and opening of Resorts World Catskills occurred before Genting Malaysia's acquisition, the acquisition was a response to the financial struggles that Empire Resorts faced after launching this ambitious project.
3 days ago
Summary
From 2019 to 2022, Genting Malaysia increased its stake in Empire Resorts through:
1) Initial Acquisition: USD 128.6 million for a 49% stake.
2) Debt Conversion: Approximately USD 200 million in early 2020.
3) Equity Injection: USD 100 million in mid to late 2020.
4) Share Purchases: USD 75 million in 2021.
5) Loan Facility: USD 50 million in late 2021.
6) Final RPTs: USD 100 million in 2022.
These transactions led to Genting Malaysia owning about 90% of Empire Resorts with a total investment of USD 653.6 million.
2 days ago
In conclusion, the substantial investments in Resorts World New York City and the strategic acquisition of Empire Resorts clearly indicate that our invested company, Resorts World Genting, is on a path of growth and expansion. These developments, coupled with increased ownership, give us confidence in the company's future prospects. We are optimistic that Resorts World Genting will continue to strengthen its market position and deliver long-term value, setting the stage for sustained success. 😀😁
2 days ago
Empire Resorts manages several key assets in the gaming and entertainment industry.
These assets include:
1. Resorts World Catskills
-Location: Catskills, New York.
-Description: A premier casino and entertainment complex.
-Features:
- 150 table games.
- Over 1,600 slot machines.
- A poker room and sportsbook.
A luxury hotel with more than 330 rooms.
- Multiple dining options, a spa, and event spaces.
-Land Size: Approximately 1,700 acres.
2. Monticello Raceway
-Location: Monticello, New York.
-Description: A harness racing track with additional gaming facilities.
-Features:
- A harness racing track with a grandstand and paddock area.
- Video Lottery Terminals (VLTs).
- Dining and other amenities.
-Land Size: Located on a 230-acre site.
3. Additional Land Holdings
-Location: Surrounding areas in the Catskills region, New York.
-Description: Undeveloped land with potential for future growth and development.
-Purpose: Potential expansion of existing facilities or development of new attractions to enhance the resort's offerings.
These assets position Empire Resorts as a significant entity in the gaming and hospitality sectors, with strong potential for future expansion and development.
2 days ago
Resorts World New York City is a major property in Queens, New York, covering 67 acres on the Aqueduct Racetrack grounds. It features 400,000 square feet of gaming space with over 6,500 video lottery terminals (VLTs) and electronic table games. The site includes a 400 room hotel opened in 2021, multiple dining and entertainment options, and parking for over 7,000 vehicles. Its proximity to JFK Airport and access to public transportation enhance its appeal as a key entertainment destination in New York City.
2 days ago
Miami land:
Genting Malaysia's Miami land investment is a significant asset in the U.S., acquired in 2011 for around USD 236 million. The 30-acre property, located along Biscayne Bay in downtown Miami, was originally intended for a large integrated resort, including a casino. However, regulatory challenges have prevented casino development.
Genting has kept the land due to its strategic value and rising real estate prices in Miami. The property's value has increased significantly, with estimates suggesting it could be worth around USD 1 billion. While casino development is uncertain, Genting may explore other options like residential or commercial projects. The Miami land remains a key financial asset for Genting, offering flexibility for future plans.
2 days ago
load in some position to bet for Q result. GENS +GENP is good the overall result will be encouraging.
2 days ago
Given the current exchange rates.., with1 USD = 4.31 MYR, there might be potential for forex gains.
2 days ago
If q2 2024 doesn't show any forex gain, then no worries...we can always count on q3 to be the quarter overflowing with forex gains ..
2 days ago
Over the past decade, Genting Group has mainly invested in land and casinos in the U.S., similar to its approach in other industrial stocks. These investments help diversify its portfolio and boost market presence. While Genting’s main business is in casinos and entertainment, the land investments aim for long-term growth and stable returns. However, the increase in land value doesn't directly impact the stock price.
2 days ago
The outlook for international tourism is expected to remain positive, underpinned by improving demand and enhanced air connectivity. Consequently, the regional gaming market is expected to maintain its recovery momentum
https://theedgemalaysia.com/node/724837
2 days ago
EPS 1.45c, dividend 6c. Well done GenM. Existing shareholders can use dividend to top up when share price down.
2 days ago
According to accounting principles, dividends are paid out from the company's net income or retained earnings. After a company declares and pays dividends, the remaining amount should be what is left over, which is often reflected as earnings per share or retained earnings.
1 day ago
The 1.45 cents you mentioned would typically be the earnings per share ..after accounting for the dividend payout. In other words, the 1.45 cents should reflect the net income available to shareholders after the dividend has been paid.
1 day ago
Is Genting really that bad? How come good QR also drop. Just wondering why people so hate this stock.
1 day ago
It depends on your interest. Are you a long-term investor, a day trader, or looking for a bargain? Each group sees the stock differently.
1 day ago
Resorts World Hudson Valley (RWHV) is a casino in Newburgh, New York, located inside the Newburgh Mall. It opened on December 28, 2022, with a $50 million investment from Genting Group. The casino features over 1,200 video gaming machines and aims to attract local residents and travellers.
RWHV is expected to boost the local economy by creating about 400 jobs and generating tax revenue. It is part of Genting's plan to expand its presence in the U.S. and complements their other properties like Resorts World New York City and Resorts World Catskills.
The casino covers 90,000 square feet within the Newburgh Mall, which is about 388,000 square feet in total. The space was renovated to create this modern gaming facility.
1 day ago
You know if your check their past history. 82 million is too far away compared to the past before MCO. After 4 years it still unable to recover the
1 day ago
GenM shareholders have become old men, just grateful there is a little profit and some sex every other year.
Posted by Mytime > 2 minutes ago | Report Abuse
You know if your check their past history. 82 million is too far away compared to the past before MCO. After 4 years it still unable to recover the
1 day ago
（吉隆坡30日讯）在免签政策推动下，云顶（GENTING，3182，主要板消费）旗下的云顶世界（RWG）次季营业额取得了增长，但分析师指出，游客量仍低于疫情前水平。
GENM visitor still below pre MCO level. There was fire breakout at First World that impacted if you still remember.
1 day ago
https://agbrief.com/news/malaysia/30/08/2024/genting-malaysia-doubles-profit-in-2q24-with-revenue-increases-across-all-segments/
Genting Malaysia doubles profit in 2Q24, with revenue increases across all segments
1 day ago
My cost is around 2.70, still 15c far far away from current share price , i willing to give up my 6c div for stop bleeding
1 day ago
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NatsukoMishima
25 years ago , yes genting was still a good investment , but everything has chged after 1st generation left ! This is true !
1 week ago