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retailer like me also understand that is unsustainable to utilize proceed from SEA biz to bail out US biz and it has been almost 10 years now yet Genting BOD still pumping more fresh fund to US year on year instead of scaling down.
it has been downtrend since 2018 when it started to invest more into US biz. would US biz really turnaround or still require the Asean biz to pump more money to bail the US out? earning in Ringgit and SGD but ro bail out a USD biz. That s the fundamental issue with Genting
market punishing genting for not declaring dividends. at one side it s telling that it s having issue with its cash flow. on another hand, it s telling that it is preserving cash for further massive capital injection or investment.
so the safe assumption is only something significant and the difference would be able to reverse the trend and that would be the taurx drug approval. I don't think even with the new York license could reverse the trend as Genting would need to spend many billions for that development.
not forgetting pumping more funds and acquisition of Empire in May 2025. All these negative news caused Genting to drop from around rm4.80 to rm2.80. not forgetting being kicked out from KLCI index and MSCI index. Now, with 2 out of the bad news resolved, but Genting didn't recover at all.
that was when they announced the submission in June 2024. next all the bad news came one by one. Investigation by Las Vegas authority in August 2024, court case by partner for Bimini Resort October 2024, Q4 losses Feb 2025.
