|Day's range||1.105 - 1.120|
|52-week range||0.715 - 1.205|
|PE ratio (TTM)||30.97|
|Dividend & yield||0.03 (4.14%)|
|1y target est||N/A|
Over the past couple of years, VIP players across Asia have gotten casinos out of their system as Chinese government began embarking on an anti-corruption and austerity drive. According to DBS Group Research, with these players trying to avoid government scrutiny, VIP gross gaming revenue (GGR) in Macau and Singapore fell 40% and 34% in CY15 and 7% and 27% in CY16, respectively. For Genting Singapore (GENS), its market share has declined from mid-50% in 2014 to mid-30% by end 2016.
This will improve the company’s credit metrics over the next 12-18 months. Genting Singapore PLC recently announced that it is going to redeem its outstanding credit on their respective call dates later this year. GENS is said to fund this redemption using cash and cash equivalent credit.
Revenue decline is seen in the mass market segment. Casino operator Genting Singapore recorded a slump in gaming revenues for the past quarter, down 4% YoY to $434.4m According to UOB KayHian, the group's ...