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probably not about maintaining the price. logically should be top30 + reserve list. first is to get into reserve list. Reserve list will get the chance to move up to top30 only if any of the existing top30 fallen to 36th or below. If existing top30 remain above 36th and 99smart moves up to above 24th or above by market cap, 99smart will probably make it to reserve list first.
A security will be deleted at the periodic review if it falls below the position stated below for the relevant index when the eligible main market securities are ranked by full market value:
FTSE Bursa Malaysia KLCI - Fallen to 36th or below
Next year will be interesting as RWNYC is bidding for a full casino license. RWS2.0 soft opening + RWNYC full casino license. GenM and GenS are the two cash cow for Genting; contributing approx 30% to 40% each to Genting's ebitda.
Agree cheng.. Atm..gens doesn't look good at short term since the hotel and some theme park still refurbished...
Need wait for Q1 25..
Don't think gens Q3/Q4 will look good too...
indeed, vin. the all suite hotel replacing hard rock hotel and several new attractions are targeted for soft opening first half of 2025; stated as early 2025.
Lol, close shop? 20bil annual revenue company and hundreds of millions of tax revenue contribution to the country. Well, latest Nevada gaming control board complaint on RWLV should not be taken lightly by Genting. It is not new but the group should at least get an independent review on its existing system that failed to detect such AML violations; punters did not declare the source of their funds.
Investments in the US only built up high debts with low returns of profit. Over a hundred casinos in the state. Operating profit is high . All earnings from Genting Malaysia & Genting Singapore go to service debts from the US investment.
Suspending RMLV license is the extreme outcome which is possible but unlikely. Maybe the punters' license will be revoked while RMLV/Genting to pay the fine with other measures in place to beef up their systems.
Following is extracted from Nevada Revised Statutes: NRS 463.641
Penalties for noncompliance with laws and regulations.
If any corporation, partnership, limited partnership, limited-liability company or other business organization holding a license is owned or controlled by a publicly traded corporation subject to the provisions of this chapter, or that publicly traded corporation, does not comply with the laws of this state and the regulations of the Commission, the Commission may in its discretion do any one, all or a combination of the following:
1.Revoke, limit, condition or suspend the license of the licensee; or
2.Fine the persons involved, the licensee or the publicly traded corporation, in accordance with the laws of this state and the regulations of the Commission.
we will know very soon after Q3 results is out for Genting & GenM :) After all, funds/insti should be more worried on the blue chip status compared to retailers.