Tuesday, March 30, 2010

GENTING Singapore : Expect High Profit Margin on Coming Quarterly Result

I personally visited GENTING Singapore's casino and Universal Studio last week.

Universal Studio - Very crowded, 40% Local Singaporeans and 60% Foreign Visitors. Very long Q on waiting for each game.It will generate enough return for GENTING Singapore in coming quarter.
Casino - I saw many local Singaporeans, don't care bout entry levy, just pay S$100 to go to bet with Uncle Lim. There're many Chinese from China, holding Working Permit in Sg, actually go into casino after office/working hours. Weekend, JB Chinese, actually travel from JB to Sentosa Singapore. There're no reason for them to travel from JB to KL for gambling purpose. Singpaore is close to JB, Jakarta.
Hotel - 85-90% occupied.
After this visit, i'm very optimistic about Genting Singapore. But, next month, Las Vegas Sand will be opened in Marina Bay Singapore. Temporary short-sell in Genting Singapore (G13) share, is good opportunity to accumulate the share at lower valuation before next quarterly result announce.

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