GENTING MALAYSIA BERHAD
KLSE (MYR): GENM (4715)
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Last Price
2.53
Today's Change
+0.02 (0.80%)
Day's Change
2.51 - 2.53
Trading Volume
10,354,400
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Discussions
30 people like this. Showing 50 of 41,523 comments
Quite a funny statement in the QR, also definitely played a role to impact the performance
The increase in effective ownership interest in Empire by GENM Group from 66.6% to 76.3% with
effect from immediate preceding quarter has also resulted in a higher share of losses in Empire.
2 weeks ago
revenue is almost the same as pre-covid level, so it is Empire that kills GENM. CEO still get high pay and passes the burden from his private own company to GENM.
2 weeks ago
Empire can't kill GENM as it recorded loss RM18 Million. The earning mainly offset by deferred tax RM62 Million and depreciation RM308 Million. The total borrowings have been reduced RM271 Million
2 weeks ago
Genm registered commendable results for 1Q2023 with adjusted EBITDA of RM593 million, up 43% y-on-y and up 25% q-on-q.
Finance costs reduced by RM21 million or 12% y-on-y due to lower total borrowings by RM300 million.
Share of results from associates worsened by RM18 million y-on-y due to higher effective stakes of 77% in Empire Resorts. Empire Resorts registered a pretax loss of US$15 million in this quarter, annualised to US$60 million which is larger than 2022 actual loss of US$34 million. Added back with non-cash depreciation charges of US$41.1 million and interest expenses of US$67.5 million a year, EBITDA will be US$48.6 million positive. Allowing for interest expenses of US$67.5m, cash burn will be US$18.9 million a year for Empire Resorts. To me this is still manageable, especially the management is ramping up efforts to roll our mobile sports betting which the management expected to add some US$26 million of EBITDA in 2023 and US$40 million of EBITDA in 2024. That will turn it to cashflows positive.
2 weeks ago
The contribution from USA & Bahamas is encouraging with adjusted EBITDA of US$30-33 million in Q42022 and Q12023. That will annualise to over US$120 million a year, higher than my earlier projection of US$100 million.
The jackpot to hit is to get a full casino license in New York.
2 weeks ago
Operating cashflows are decent at RM363 million in 1Q2023, annualised to RM1,452 million or 24.5 sen per share.
Capex was high at RM195 million in 1Q2023, expect it to come down slightly in following quarters.
2 weeks ago
Prospects are getting brighter in coming quarters on following grounds:
1) Rebounds in tourists to Genting Highlands with more China and Singaporeans able to travel across and more rides added at Genting SkyWorld
2) Continuous earnings rebound from Resorts World New York City
3) Improving earnings from Resorts World Bimini after collaboration with international cruise operators to increase the port calls to the island
4) reduced losses in Empire Resorts after mobile sports betting is ramped up
5) the imminent disposal of Miami land for US$1.225 billion which will reduce interest expenses by US$61 million a year
6) the potential of Genm bagging a full casino license in New York
7) Continued strengthening of US dollars that make US earnings contribution stronger in ringgit terms
8) potential monetisation or disposal of other assets under Genm, eg. the resorts and hotel in Bimini, the other 2 parcels of land and hotel in Miami and some UK casinos
2 weeks ago
Plus the 1st phase of Genting XinTianDi mix real estate development project 'Red Earth' with expected GDV RM1.7Billion to lauch in June 2023
2 weeks ago
I believe XTD and the recent flurry of developments could also spur an organic growth on GH footfall
This would further dilute the contribution from gaming segment, which can be a good thing
2 weeks ago
PRN has no immediate impact to genm , even if pas pn win , pahang still under ph amno
2 weeks ago
it is unacceptable to still making loss. life have move on pass covid era and yet genm still making loss.
2 weeks ago
Simple basic business 101, expenses and overhead is far, far greater than income....lu tau boh?.............mana sekolah lu??
2 weeks ago
This is amazing. Thanks for sharing this blog. I have become a fan of your blogs. This blog is so interesting and informative.
2 weeks ago
Load up Genm! With debt ceilling settled, we should see some excitment with Miami deal conclusion!
1 week ago
In local share market got 4 famous FB / Blogger socall " incredible 4 " as following :
Half boiled egg - tyxxp & TIG
tanjung rambutan - wuchang
Golden Summit - Sor-chai Chong
Windscopo2 - First day but look like last day
If you listen their tips buy stock , u will cry until no tears...
5 days ago
GenM is much better than berhad. because berhad has many non performing asset, including gen sg, which hogs up about half of the assets, without dividend. 10 years has lapsed, all the earning cannot be repatriated. need to reinvest with new theme park
5 days ago
ivanlau, what does those bloggers benefit from the post? is it advertising? I've been reading windscopo
5 days ago
International travel demand is expected to remain positive, although its recovery could be constrained by the
macroeconomic uncertainties and inflationary pressures. The regional gaming market is expected to continue
improving in tandem with the improved outlook on global travel.
4 days ago
Cash reserves are depleting. Can the dividend be sustain? They should hurry dispose US assets
3 days ago
Foreign Investors just love this kind of News.......LOL
https://www.msn.com/en-my/news/national/hadi-non-muslims-must-be-grateful-for-being-given-a-place-here-should-just-let-malays-continue-leading-country/ar-AA1ceu0Q?ocid=hpmsn&cvid=a86f2216e21a4a7c900e91f62ec377fe&ei=13
3 days ago
GenM price is so weak even with guaranteed 4 billions ++ profits by selling off the Miami assets.
2 days ago
https://www.orientaldaily.com.my/news/nation/2023/06/09/571766
Casino close shop just a matter of time
1 day ago
GenM are being shorted for more than 6 million shares as at 8 June. It will shoot up once covered back
1 day ago
is PAS backed by china? it's like Chinese asking Pas not to let Chinese control politics
21 hours ago
If PAS is in control PAS can ask whoever wants to gamble can go to the nearest casino for example Singapore.
20 hours ago
Why worry? Gamblers can gamble even without a casino. Even a football match is a gambling game. They can create betting games with just challenges. As for PAS coming to power, they want all of us to do live by the riverside. Catch a fish and live a simple life and FOLLOW orders!
20 hours ago
Yeah. No worries, drinkers can still choose to drink Coca Cola and Starbucks coffee at the nearest cafes.
19 hours ago
no offence but if pass in control, malaysia will only be worsen and maybe next time when a rainbow appear, we have to hide in house or else = supporting LGBT, look at kedah and kelantan
16 hours ago
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ivanlau
QR keep losing money ....... now let us waiting so-chai " first day " blogger how to brainwash his follower thru his article........
2 weeks ago