atans1

Posts Tagged ‘Genting’

Dolphins to ACRES: Listen to this child

In Casinos on 08/10/2011 at 8:40 am

Finally we dolphins have a intelligent friend who talks sense, and she is only a child.

Is the government also a party to this as they were the authority which awarded the preferred contract to RWS (Genting Highlands) which asserted that the dolphin exhibition should be one of their attractions?

If so, the best way to pressure the government would be to create awareness, to get more Singaporeans  involved in the issue and to action their involvement by writing letters to appropriate government agencies, their Members of Parliament,  and even to our Prime Minister.

The last two para of an otherwise standard piece from a human friend of Flipper. Listen to her ACRES. The Cynical Investor (no friend as he is a capitalist) tried telling ACRES this some moons ago but was ignored http://atans1.wordpress.com/2011/05/29/freeing-flipper-try-govmin/

We dolphins are of the view that either Louis Ng and ACRES are not that intelligent or they got no courage to take on the government. They are afraid they could be locked up as the “Dolphin Conspiractors”?

Finally can someone ask what has happened to our brothers and sisters at Subic Bay? Are they all still alive? Are they well? We have been told by our brothers and sisters in RWS that their human keepers told them that when RWS said the dolphins “under its care” were “doing well” recently, RWS was refering to the Captive Nine on the Sentosa resevation, not the ones at Subic Bay.

XXXXX

Marxist Dolphins

Two dead dolphins & RWS says this?

In Casinos on 04/10/2011 at 7:54 am

A RWS spokesperson noted that the dolphins under its care for the past three years are “doing well” a local freesheet reported.

Excuse me, a total of 27 friends of Flipper were detained in 2008, two died and RWS dares say the dolphins under its care are “doing well”? A fatality rate of 7.4% is not to be dismissed so lightly. Whatever the “Marxist conspirators” and their friends may whine about, none of the detainees died when imprisoned. If any detainee had died, there would be an enquiry. Here two out of 27 dolphins died, and RWS brazenly claims the dolphins are “doing well”.

No wonder the run of bad luck at RWS and Genting group continues.

Remember a few weeks ago, an Australian tourist was hurt on one of RWS’ rides. Before that there were problems with the air-conditioning at RWS, and before that there was an outbreak of food poisoning on one of Genting’s cruise ships.

Best avoid the shares of RWS and the group if you are superstitious. Pretty conclusive that a curse is in place.

Casinos: High rollers? You must be kidding?

In Uncategorized on 24/04/2010 at 6:19 pm

The casino at Marina Sands opened yesterday. Both casinos are now operational.

When the casino projects were launched several years ago, the government, Sands and Gentings were spinning that the casinos were for high rollers. They were not interested in the mass market. The government has since gone silent but the casinos are still spinning that.

But then how come Resorts World announced that it was partnering Air Asia to bring in the punters. I’m wondering what kind of high rollers fly budget airlines?

And last week Tuesday, BT reported that Marina Sands is partnering 12  M’sian coach operators “in an effort to attract more tourists to its integrated resort which opens later this month.” “Coach prices will range between $55 and $110 (return).”

Err this the high roller traffic Sands boasting about? Sounds like the grind (small punters) market to this punter.

And it would seem the patrons are locals. A recent report by Bank of America Merrill Lynch (BoAML) estimates that about 50-60%  of the casino patrons at Resorts World Sentosa (RWS) are Singaporean. BoAML also believes that the casino attracts between 20,000-25,000 visitors on weekdays (with more on weekends).

Vincent Khoo, an analyst at UOB KayHian (Malaysia), says there has been noticeably lower visitor arrivals to Genting Highlands from Singapore since RWS opened.

Apart from Macau, casinos are set to pop up all over Asia: in Taiwan, Vietnam, and the Philippines. “One market that will have to play close attention to growth of new markets in Asia is Australia, which currently sees a large number of tourists from the likes of Taiwan, Korea, China, and India visit its casinos,” says Warwick Bartlett, GBGC chief executive reported BT. “The real test is whether these new properties will satisfy demand that is currently not being met, or if they are simply shifting the same gamblers and their money around different venues.”

Applied to S’pore, can it attract the OZ-bound punters? And get the Indians, Taiwanese, Koreans and Chinese to come here?

And if you want a holiday around Melbourne, I know a gd package deal. So long as you are willing to spend S$10,000 in a casino, you can get airline tickets for two, a five-star hotel room, and a limo to and from the airport. A top race horse trainer I know thinks it value for money. He says he and his wife spend that much when they visit their children in Melbourne. And as he added, “And I could get lucky”.

Update 28 April 2010

At least we known Marina Sands will not use a budget airline to fly punters from the  Middle East. Sands has a wide-body aeroplane. (Update on 6 May: this aircraft is based at Senai in Johor because Changi is a lot more expensiveaccording to someone senior at the former.)

Genting S’pore — Did you know?

In Investments on 08/01/2010 at 5:19 am

The junket rules that the authorities are likely to introduce will mean a slow start for VIP (high roller) volumes at Genting Singapore, at least in the short term. The Genting gp, I understand, has always believed junket operators are the key to its VIP segment.

So the VIP gaming volumes at Sentosa will take time build up. Note that the preference for using junket operators for the VIP segment reflects the more conservative nature of the Genting gp. Bad debts are the responsibility of the operators, not the casino. In return, the operators get a bigger share of the gamblers’ spending.

Bank of America Merrill Lynch analyst Melvyn Boey estimates VIP clients will account for about 50% of the business at the Singapore casinos. But of these VIP clients, only about 30% might be expected to be brought in by junket operators with most being ‘in-house VIP clients’. Now 30% of 50% sounds a lot to me, though he says it is “insignificant”.

I suspect he must be thinking of Sands rather than Genting S. Sands has said that it will rely on its in-hse VIP gamblers for Sands S’pore.

Funnily, Genting S has an advantage versus SS because the Genting gp stronger financials mean that it can more easily finance in-hse VIP clients. Sands gp isn’t exactly cash rich.

With a recent rally in its share price, Genting S now trades at over 17x 2011e EV/EBITDA. Sands China and Wynn Macau, with existing cashflows in the largest gaming. market in the world, trade below 11x. Even if EBITDA were 50% higher than consensus forecast, valuations are stretched. The recent selling in heavy volume could be a reflection that the institutional investors are realising this. Foreign brokers are calling a “Sell” at these levels.

Or the selling could simply reflect that falls in HK of Winn Macau and Sands China.

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