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Actually the reason why Genting is falling is very simple. It is because ESG theme is the major music now. Look at all other gambling stocks like Sands, Caesars, and Wynn. They are all falling because institutions are abandoning them. There is nothing to do with fundamentals. We, as retail investors, should do opposite than what institutions do. Buy when they abandon. When the wind returns to sin stocks again, even pigs will be blown high. For the moment, just collect high dividend and stay patient. It is still better than savings your money in the bank.
Hi CHENG ya patiently waiting for the right entry point. Every time when it falls, I’m attempted to buy but have to be very patient to wait for buy signal from technical analysis. Hope the coming volatility will release some signals
When all bad news are over, good news will come. For Genting the next bad news is getting kicked out of klci 30 and allegations in the U.S. I am waiting to buy at lelong price.
The best detail I could get from 2023 Annual report is from Segment Analysis (pg 134). If you calculate Reveneu/Non-current Asset, US/Bahamas performed the worst, recording around 25.8% in 2023, compared to Malaysia (61.5%) and SG (45.7%). And the total investment in non-current asset in US/Bahamas is almost double greater than Malaysia one. I understand Bahamas is having losses all the years but not sure how much Bahamas drags down US/Bahamas performance.
thanks cheng for your detailed info on business in the US. I believe gaming is a 100% profit business because of its odds on casino. But do we have ROI or other financial data on each subsidiary in the US?
Genting has many potential project but it also has 3 potential issues. 1. Founder's honesty. Lim's family always drains cash from Genting by liquidating their family asset into corp. e.g business in the US. 2. Unsuccessful business expansion in US, that has very low ROA. 3. Uncertainty in GENM on higher sin tax + possible revoke of license.
Hi Cheng, I am not sure if rate cut in US will really lead to a recession. I just see their unemployment rate is still healthy, so household income also stable. what make you think the on going results are slowing down? Anyhow, my strategy is to look for undervalued stocks with growth potential, then hold for long term.
