Genting SP: falls 1% to $1.95, underperforming a slightly negative market in active trade, likely on worries over comments from Las Vegas Sands' COO Mike Leven referring to concerns the govt may cap Sporeans' casino visits if their proportion of visitors becomes too high.
Says LVS was told that so long as only about 30% of the people coming to the casino) are Sporean then it shouldn't be a problem...
An analyst at a foreign brokerage says the comments may have sparked a knee-jerk reaction, but adds, if such a cap does exist, it would be less of a negative for Genting's RWS than for MBS; notes the mass market accounts for about 55% of MBS's gaming revenue, vs only ~40% at RWS, as it is more VIP-centric. Adds, all the while, the casinos have kept some sort of informal cap on the number of Singaporeans entering the casinos, so doesn’t see it being a major problem going forward.
No comments:
Post a Comment