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yeah, i noticed that too. Not sure whether it has anything to do with the recent Singapore's GRA report - stated that the number of citizens and permanent residents who visited casinos in 2024 totalled 94,000. That’s a decrease of 5.3 per cent year-over-year.
Ouch. ermm. Mgmt strategies for Genting group - no comments. Ideally, such a big conglomerate should at least be disciplined in capital allocation and increasing the value of business over time; value creation if you will.
If exclude GenS SGD$10m cash earmarked solely for RWS developments as mandatory condition for licence renewal, Company no longer cash rich but have high borrowings position. Where to find the $ to fund US bid once successful next year ?
Another sticky topic, Daniel :) not much options to raise cash - bonds issuance, rights issue/pp, sell assets and probably consolidate US assets/ops and listing in US.
Alcohol and tobacco hit with higher excise duties and no additional levies/duties for gaming in budget 2026. That's a relief. Next hurdle - recovery progress for GenS and RWLV.
