its 5.00 when I first bought it at 4.02, Vin. It was based on the assumption of 15% discount rate, min 15 cents dividend to be collected for two consecutive years (wanted to ride GenS growth), risk management plan is based on 12% stop loss from the average price. Will continue to add quarterly as long as the price is below 4.02, no deterioration to the variables such as ebitda, dividend payout, its credit ratings which I am currently using BBB/Baa2 and etc.

did not include LNG production starting 2026, TauRx and RWNYC full casino license prospect which will boost its ebitda. but these are just my own calculation for my own reference, Vin. You can use the TP targets by IBs - min or average is good enough; equally conservative.

GenS earnings recovery itself will position it towards high side of 4.0++ and earnings growth to push it to 5.00++ while all else equals. The big jump at the end of 2025 will depend on (1) HMTM UK marketing authorization - first wave (2) RWNYC full casino license status will be known by then if there are no delays (3) first drop of LNG in 2026 (4) Other major market marketing authorization for HMTM to follow suit after UK market - 2nd wave. The significance of the jump depends on TauRx's plans.

GenS Q4 results will be flattish still against Q2'24 when the hard rock hotel capacity were taken down for renovation. GenM will again cover for GenS until Q2'25 where the numbers from GenS will show recovery by then.

Seems like the luxury all-suite hotel will be available in the first quarter of 2025; Q2FY25 numbers should be reflected accordingly. In November, Genting Singapore held a groundbreaking ceremony for its up-and-coming waterfront development at RWS, slated for completion by 2030. The $6.8 billion project adds more than 164,000 sqm to RWS, including plans to build a Super Nintendo World in Universal Studios Singapore (USS). An 88m-high experiential “mountain trail” and two more hotels with 700 rooms are part of the development.

But visitors won’t have to wait until then to visit a refreshed RWS – the first quarter of 2025 sees the soft launches of Minion Land in USS, and a luxury all-suite hotel replacing Hard Rock Hotel Singapore. A rebranded and expanded SEA Aquarium, which will be known as Singapore Oceanarium, will also open in the first half of 2025.

near term - RWLVS AML complaints disposition plan. Response from RWLVS submitted back in Dec'24, BODs formed which provides oversight/supervision based on the background of the team, Sibella's disposition plan completed and lets not forget that RWLVS contributed a lot from taxes and employment to the Nevada state. I am in the opinion that it will be monetary fines and the revamp of AML policies; unlikely revoking license due to RWLVS contribution to the state.

I looked at remuneration report for FY23 which is showing LKT receiving ~48M at company level which is part of ~114M at the group level, Andy. 114M is approx USD25M for a global integrated resorts company. Robert Goldstein from LVS is receiving ~USD40M. LVS is also a global company. I have no concern with LKT's remuneration looking at Genting's financial performance, dividend payout and capex projects that it is undertaking now :)

That should be a decent support area, Vin. I have just added 2nd batch at 3.62 recently. Will not be adding until after Q4'24 results unless price retrace back to 3.62/lower which is unlikely given festive seasons in Q1'25 driving higher footfalls, opening of Minion land in Feb'25 and new gaming floor for GenM while renovations on-going at the Circus/Hollywood.

I got buy sell genting during this 9 years... Got some luck as well.. Sold before LGE announce gaming tax hike... Hehe.. Just recently last year bought genting hold until now...
Gens price look quite attractive.. Since the hotel n new minion theme opening soon

can be many reasons, Vin. internal and external headwinds. My personal opinions as such: Externally - tariffs, overvaluation of techs, Trump's administration onboarding means new policies will be in placed, inflations and all these means sentiments will be weak. Value and dividend stocks will be in favored during such uncertainties/period. Internally, minimum wage salaries starting in Feb will hit manufacturing sectors given the recent demand and impact of tariffs, and higher civil servants salaries.

you are welcome, Vin. I do not think there will be much impact for Genting after being sold down in Aug-Dec'24 due to RWLVS complaints, repricing for short term earnings disruption from GenS and index funds rebalancing. These factors have been priced in / done deal. We will start to see GenS recovery with opening of its attractions starting next month, index funds fully exited, and hopefully to see the disposition plan for RWLVS complaints soon based on 9th December response date. At present price of 3.70, its offering yield of 4.05% which is higher than current FD rate :) Can sleep well as long as there is no risk to its ability to continue generate the cash that we are seeing from its operating activities :)

tested your patience to the max, Vin :) I just started buying Genting last year after Q2'24 results is out. Still a newbie. Started buying GenM towards end of 2023; first batch at 2.45 and currently avg at 2.24. Both are providing good yield at the moment and there is no risk to the dividend payout based on the numbers from the report thus far. Will consider to add after each quarter report is released so long the fundamentals / variables used remain intact. Will sell GenM if RWNYC fails to secure the full casino license and hold on to Gent only :)