Genting Singapore Failed To Deliver As Expected

Posted: August 11, 2012 in Uncategorized

Singapore news extract with commentary

Profits Dropped 43% In 2nd Quarter

As envisaged by Professional Ground panel last month, Genting has failed to deliver in the 2nd quarter of 2012.

Its top line gaming revenue fell by 4% to $562m in the quarter, Ebitda was $313m as compared to MBS $330m last quarter.

Some analysts now realized that Singapore gaming market is almost saturated. As Professional Ground panel assess, the most difficult task going forward is to grow big enough pool of mid range casino patrons in the region. Coupled with more restrictions would be imposed on domestic market, the forecast of casino revenue is not great.

Big whales? Forget it. There aren’t many in Southeast Asia. The luke warm results also conformed that Singapore IMA (Mickey mouse junckets) hired by Genting RWS were just a bunch of rabbits…

Read the media report below…

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