No rush. As KLCI enters correction mode, I presumed funds/insti will reallocate/rebalance their portfolio to Genting as long as Q1FY25 showing signs of earnings recovery with gradual opening of the attractions in GenS and partial reopening of GenM's gaming facility.

2nd half selling today is probably driven by market reaction on tariffs and futures pointing to lower opening in the US market, Vin. Not surprising as US market's correction mode need to pick up pace a bit more in order to go higher in the future :) China will then react accordingly for the tariffs - tit for tat. Just enjoy the drama and pick up some good deals along the way :)

The first and likely only tribal casino within Massachusetts’ borders appears to be finally moving ahead after multiple delays spanning nearly a decade. A representative of the Mashpee Wampanoag Tribe has shared that plans for the gaming facility will be shared with the public “in early 2025.”
The planning for the enterprise, dubbed First Light Resort and Casino, will involve city leaders in Taunton, Massachusetts and involve phases of development. The Mashpee Wampanoag are already moving forward with a non-gaming project on the land the casino will occupy. The Taunton Gazette reported on Monday that leaders in the city and from the Mashpee Wampanoag will soon join to pour over plans for development of the 321-acre site that the Tribe owns. Those plans should become available for public scrutiny in the near future.
Mashpee Wampanoag Tribal Council Chair Brian Weeden stated in the article:
Over the coming months, we are thrilled to announce we will be working with the city to develop our phased plan for the future First Light Resort and Casino. We are working toward presenting these plans to the public in early 2025.
The Mashpee Wampanoag have already announced that they will construct a welcome center on the site. According to Emma Rindlisbacher of the Taunton Gazette, that work currently involves clearing the site of what Taunton mayor Shaunna O’Connell called “illegal dumping, loose fence posts, and other blight.”

Although the Mashpee Wampanoag have been working on First Light Resort and Casino since it acquired the land in 2015, there is still no timeline for when the facility may open. That could be part of the forthcoming public updates in early 2025.
If the Mashpee Wampanoag Tribe does move forward with casino development in 2025, it will represent the culmination of years of legal wrangling to get to that point.

Unfortunately, its the impact on the gaming industry, Vin. Its not only Genting. Just look at Macau, Philippines and Korea - all the gaming stocks are down by similar range; worst in Philippines. China: Galaxy Entertainment Group 31% down from the peak in 2024, Sands China 30% down, Wynn Macau 35% down, Malaysia: Genting 31% down, GenM 26% down, Philippines: Bloomberry Resorts Corp 67% down, Korea: Paradise Co Ltd 36% down. The only silver lining here is that no new low for now and no major negative headwinds in these regions.

You are welcome, Vin. Market expectation is that Q4 will be flattish again due to earnings disruptions from RWS2.0 upgrades activities. I am only interested in the cash generated from its ops; 5bil+ as of Q3 and hopefully at 6 to 7 bil range in Q4'24 report.

indeed. should be resolved soon as the new BODs in actions and reading in between the lines the recent message from the new RWLVS CEO :) - Dixon said his new responsibilities include having proactive discussions with regulators to resolve the matter while also taking steps to improve internal operations and prevent future problems.
“What we’re doing here today is acknowledging the issues of the past, taking account for them and making sure that we put the policies in place to make sure that the issues that have been widely talked about never happen again,” Dixon said. “We are infusing our culture with compliance, and we are turning the page.”

Bet on us
In writing the next chapter in the Resorts World story, Dixon said he hopes to have buy-in from stakeholders across the board, including guests, locals, employees, regulators and shareholders. To that end, he is pushing a new mantra at Resorts World — bet on us.
“I think it’s important that we take a long-term view of this story, because that’s what our ownership group is doing. They’re taking the long-term view that owning 85 acres on the Las Vegas Strip,” is a smart play, he said.

You are welcome, Vin. There isnt much volume recently though. Lots of things going on this year; lined up all the way until 2026. Leisure and hospitality segment - GenS, GenM, RWLVS, RWNYC, Biotech segment - UK MHRA marketing authorization for HMTM by TauRx, O&G segment - first drop of LNG.

The next event lined up for GenS - luxury all-suite hotel replacing Hard Rock Hotel Singapore followed by Singapore Oceanarium. Hopefully there will be an update soon for the luxury all-suite hotel which was originally set to open in phases in first quarter of 2025.

Indeed and there is no rush since you have positions on hands, Jk :) Thanks, pahang kia. Looking really good for RWLV and lets keep an eye on the results from RWLV. The very first one will be the negotiations with the Nevada regulators on the closure of the complaints - the outcome :) I am still in the opinion that it will be just a monetary fine but will just wait for the outcome. Thereafter, the growth plans for RWLV.

Not an easy task to estimate due to non-cash items, Vin. Should be higher than Q3'24 but less than 300M range assuming there is no further impairment losses, forex loss of approx 120M, flattish revenue, and all else equals, Vin. Will go lower if there are further impairment losses.

Agreed, Vin. Unlikely to suspend the license given its contribution in the Vegas/Nevada. Not surpass GenS but cover the revenue loss due to RWS2. 0 disruptions, Jiashen. GenS Q2 to Q3 revenue dropped by ~100M while GenM increased by ~60M. Q4 should be a strong qtr for GenM due to holidays and Q1'25 additional gaming capacity at the back of festive season.

Q1'25 - partial minion land contribution for GenS, partial reopening of the Genting gaming assets, festive seasons. Hopefully, the luxury all suite hotel replacing Hard Rock hotel will be opened gradually as per plan and increase the room's capacity for Q2'25.

Singapore had a 21.5-percent year-on-year rise in visitor volume in 2024, taking the 12-month tally to 16.53 million, according to data from the Singapore Tourism Board. Of that headline figure, 12.43 million arrivals involved people staying overnight, up 21.2 percent year-on-year, and the overnighters were 75.2 percent of all entries. Average length of stay during the 2024 calendar year was 3.56 days, a figure that was down 6.2 percent year-on-year.

The 2024 tally of visitors from mainland China was 3.08 million, or 18.6 percent of Singapore’s annual total. That figure for Chinese mainlanders was up 126.0 percent year-on-year. In February last year, the city-state of Singapore and China agreed to a 30-day mutual visa-free entry system for their citizens. The arrangement began on February 9, 2024, the eve of the lunar new year last time.

Singapore has a casino duopoly consisting of Resorts World Sentosa, run by Genting Singapore Ltd, and Marina Bay Sands Ltd, run by a unit of Las Vegas Sands Corp. In a separate press release on Tuesday, the Singapore authorities said tourism receipts for the first nine months of 2024 reached SGD22.4 billion (US$16.5 billion), up circa 10 percent compared to the same period in 2023.

The tourism board said all spending categories showed year-on-year growth, led by ‘sightseeing, entertainment and gaming’, at circa 25 percent, followed by accommodation spending at circa 25 percent.

Mainland China, Indonesia, and Australia emerged as the top tourism receipt-generating markets, contributing SGD3.58 billion, SGD2.13 billion, and SGD1.44 billion respectively, excluding the sightseeing, entertainment and gaming category. The statement quoted Melissa Ow, Singapore Tourism Board’s chief executive, as saying the 2024 performance was “an affirmation of the industry’s efforts in refreshing our products and experiences, as well as embarking on new collaborations”.

She added: “Collectively, these efforts elevated Singapore’s destination appeal and strengthened the sector’s capabilities and competitiveness.”

GenS missed out a lot last year due to the disruption from the upgrades activities - The tourism board said all spending categories showed year-on-year growth, led by ‘sightseeing, entertainment and gaming’, at circa 25 percent, followed by accommodation spending at circa 25 percent.

positive surprise from RWLV given its peers are doing well? - Feb 13 (Reuters) - Casino operator Wynn Resorts (WYNN.O), beat analysts' estimates for fourth-quarter profit and revenue on Thursday, driven by strong business in Las Vegas and other regional properties, sending its shares up about 3% in extended trading.
Peer MGM Resorts International (MGM.N), also beat quarterly estimates earlier this week, aided by robust bookings across its properties.

We should see more funds/insti switching from other industry to Genting? :) President Donald Trump revealed his most sweeping economic measure yet Thursday, announcing reciprocal tariffs that could come as soon as this spring, which Trump argues would level the playing field in global trade—though economists project they would increase inflation this year. The Trump administration analysis of reciprocal tariffs will conclude by April 1, Commerce Secretary Howard Lutnick said Thursday, according to Reuters.

Trump said he intends to issue further tariffs “over and above” the reciprocal measures on some key imports including semiconductors and cars.

Well, so far no opposition from the public with regards to RWNYC expansion plan as part of the full casino license bidding compared to some of the proposals by other bidders, Nick. The newly put in place BODs for RWLV has vast experience particularly in regulatory/compliance.

No idea, Vin. I am happy as long as the cash generated from operations remained solid, mid to high single digit billions :) You can sleep well knowing that the company is generating sufficient money to pay dividend and reinvest the money into the business :) Realistically, GenS should be flattish still, GenM should be good due to year end holiday, RWNYC, Hudson Valley, Catskills, RWBet should not have much surprises comparing to previous quarter ~ within single digit % for its topline perhaps, RWLV - this may have positive surprise given its peers are doing really well.

Extracted some of the info from the Q&A with state Gaming Commission Chair Brian O’Dwyer. On track to award three casinos licenses by the end of the year - Nothing will stop the commission from issuing the license by end of the year and public support is important. So far so good for RWNYC. (1) The bids for one of up to three downstate casinos will be due this summer. Is there any chance the winning bids won’t be selected by the end of the year?
The answer is no. It’s been a long process but I do not perceive anything that will stop us from having the licensing action by Dec. 31. (2) Does the process include the right amount of local input? How do you balance trying to have the bids win adequate local support without allowing relatively few individuals from blocking an otherwise quality casino bid?

It’s hard to balance these things. But there are some locations that I know of are very anxious to have a casino in their neighborhood. There are others who can be absolutely opposed to it and think it’s a detriment to their neighborhood. What the Legislature has done is very clear. They have set up this Community Advisory (Committee), which is a misnomer. Basically when they meet, (they) can exercise a veto over the license. If a Community Advisory (Committee) votes against it, then that’s the end of the application. There’s no appeal from that. So it’s important that the communities in which these casinos are located feel 100% comfortable with having those casinos. The Legislature made it very clear to make sure they don’t want the casino shoved down the throat of any community that doesn’t want them. They relied on the local officials appointing a committee to see that the community is satisfied with the way the casino is being operated and how it is being operated. And at that point in time, the community through its elected representatives is satisfied they want the casino there, the application will move forward.

RAV Bahamas court case is more to shareholder dispute and no impact perhaps, Vin. Such shareholder dispute case will drag for at least one to two years at the minimum. As for RWLV - that is on the AML complaints and the worst case penalty is license being revoked/suspended which will be detrimental. If RWLV license is revoked, RWNYC full casino license is a small matter; its the end game for Genting group's US segment :) GenM will not be able to break above 3.00 without growth in US segment in my personal opinion. Heavily dependent on MY segment. So, RWNYC full casino license will be important. Having said that, my plan is to eventually lock in the profit from GenM and consolidate into Genting upon RWLV complaints closure. As long as there is no impact to the license, RWLV has lots of room for growth. So, Genting has more room for growth than GenM coupled with the RWS2.0 upgrades on-going, first drop of LNG in 2026, and the wild card - investment in TauRx.