Genting SP awarded casino license

Written on February 8, 2010 – 4:12 am | by Kampung Boy |

Genting Singapore (Genting SP), the subsidiary of Genting Berhad, Asia’s largest publicly traded casino operator received their casino license from the Singapore government. This will allow Genting SP to tap the holiday crowd.

Genting’s $4.5 billion resort on Singapore’s Sentosa island is part of the city-state’s plan to lure 17 million visitors and triple annual tourism revenue to S$30 billion ($21 billion) by 2015. The license will also give Genting a head start as its rival Las Vegas Sands Corp. won’t open its gaming resort in downtown Singapore until April.

Four hotels and 10 restaurants at Genting’s Singapore resort began accepting guests on Jan 20.

RHBInvest Research values Genting SP at S$1.35, maintain outperform.

Conclusion

It is a good news that Genting SP has got their casino license from the Singapore government. Better times are ahead for Genting SP as they can start to earn money from the holiday resorts and casinos.

RHBInvest only values Genting SP at S$1.35 which is quite low for me if you ask. I am not parting ways with my Genting SP in the near future and ill be hoping it will reach at least S$2.00 before ill decide on touching on my baby. ^^

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