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At this price, I hope can hold it for 2/3 years to see huge capital gains. Genting Malaysia, Genting Singapore, and now Genting New York are money printing machine. Furthermore, Las Vegas operations already stopped bleeding and Taurx is coming. The opportunity cost is too high to just earn the 15% instead of wait for another 1/2 years to harvest the benefits of the current huge Capex now.
I prefer to keep the stock. Just Genting Singapore alone already worth ~RM13B. RWLV has shown much better EBITDA since Q1, and RWNYC just started live table games and has since double their GGR recently. Besides that, Taurx could be getting approval soon. All these are pointing to a much better shape Genting in the next few quarters.
There are a lot of positive chain effects with a successful listing of GenT business in the US. Debt can be pared down and thus credit ratings will improve. Borrowing cost will be lower subsequently and better dividends can also be paid out with improved cash flow. More dividend funds will buy in and share price appreciation can be expected.
Probably now Gent and GenM can form a new joint venture, thereafter inject RWLV and RWNYC into the new business entity and list it from there since Gent doesn’t intend to “privatise” GenM.
According to the Gent management, their intentions were never to take over GenM but just to acquire (50%+1) share. What Gent wanted to do with such arrangement? Why did it overshot till 73.8%?
