Quick Response to the Article “Take A Closer Look At Singapore IRs”

Posted: September 14, 2009 in Uncategorized

Here are readers quick response to the article “Take A Closer Look At Singapore IRs” (Originally posted on Messages.Yahoo Finance)

FROM READERS:

Comment #1  whatztheunt…                  

What's really in your hand?

What's really in your hand?

For all you “Community” of pumpers that laughed off Citigroup’s scathing analysis of MBS (btw, LVS still really hasn’t recovered from the sell rating), here’s one of your own Singaporean advocates putting together a surprisingly objective and thorough analysis supporting Citi’s claim that MBS will have virtually NO CHANCE of making its projected numbers. TAKE A CLOSER LOOK AT SINGAPORE IRs https://expertir.wordpress.com/

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Comment #2  • Robert G

Right on point. Scary part of this report is the following “Now that even Marina Bay Sands had openly admitted that casino revenue will be about 75 – 80% of the total IR revenue.” If that is the case, then they are going down the same rat hole of the Venetian Macau. Further, “Citi highlights that the US$100 discretionary spending is almost twice that typically spent at Genting Malaysia’s casino (US$53) and higher than the average spending at LVS’s Venetian Macau (US$84). ‘This does not include the additional $100 entry levy that each Singaporean must pay when they enter the casino,’ added Mr Daswani.” So to make the numbers every singaporean will have to pay an upfront $100 and spend lose another $100, and they will have to do this 5 times a year. And every visitor to Singapore will need to go to the Casino at least once a year. It ain’t going to happen.

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Comment #3  sidneyg1927 82/Male California

hope these clowns shorted big. Singapore is such a poor investment prospect, just 19 Casino firms lined up for the chance to build a mega casino there. I have never read such nonsense. LVS will be a huge success. Most money mgrs are clueless.

 

Comment #4  realniceguy… 40/Male Alberta, Ca…

Sheldon Adelson is such a smart businessman. Singapore, unlike Macau which attracts predominately visitors from H.K. and Mainland China, it will stand to gain many more tourists from the blooming economies such as Australia, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Taiwan, Japan, India, China, HK, etc. With the support from the Singaporean gov’t and its near monopoly position, it will become a huge success! Remember Sands Macau took only 8 months to breakeven when it first set foot in Macau!

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By the Editor of Professional Ground…

We truly appreciate such level of keen interest on our posted article “Take A Closer Look At Singapore IRs” as it has drawn in a huge surge of viewership on the blog.   Thank You.

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