Genting Singapore (Sentosa) Struggles

Posted: February 22, 2013 in Uncategorized

From the announced Genting Singapore’s operating results, the writing is on the wall.

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Major trending
–  4th quarter 2012 EBITDA dropped 12%.
–  2012 EBITDA dropped 19%.
–  2012 Operating Profit dropped 33%!

Rrasons: 
–  poor (casino) floor mamagement.
–  poor junket operator network, continue to use “mickey mouse” International Marketing Agents.
–  unable to consolidate higher % of active repeat casino patrons with high LTV (Life Time Value).

For the year 2013, don’t expect the situation to improve. Regional economic (Southeast Asia) remains volatile.

It continues to be a FLAT year for Singapore IR/casinos.

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