3 weeks revenue at around USD82 mil. by assuming the same momentum every three weeks, this will work out to USD1.4 bil per year. Assuming 70% cost and tax, yearly profit will be ~USD430 mil, which is equal to RM1.8 bil/yr. Every quarter is ~RM450 mil profit from RWNYC alone.

LKT must get GenM privatise asap, then list the US operations with rwny+rwlv. After listing, debt can be pared down and Genting will not be bothered by the huge debt and finance cost in the future. Genting report card will score A every single quarter by then.

Thanks, daniel. The data looks really good. I am comparing the before and after data. The before (VLT) data is showing avg win/VGM per day is ~ 446. The after (commercial casino) 3 weeks data showing two revenue stream (1) Slots/ETG - avg win/unit per day ranging from 1.2k to 1.5k which is ~3x higher than VLT era (2) New revenue stream - Table games ggr per week ranging from 4.9mil to 7.5mil; translating to 14% to 17% hold rate. Not too bad for a start but not at the peak yet. Catskills table games hold rate is ranging from 18% to 20%. Higher ggr (slots and table games) and lower tax rate (from VLT to commercial casino) - higher ebitda :)

boss needs to sort out the 300mil bonds for Empire Resorts due by Nov'26. No official comms yet. Q2 RWNYC full casino sneak preview and Q3 will be the first real test on how much it can make/ggr especially in the month of Jul.

With all these uncertainties, I decided not to buy GenS @ 0.59 even with the attractive 2 cents dividend. Cost cutting can backfire and bad news for gaming sector as loss of VIP market share can be significant. Safer to stay invested in banking shares in Singapore.

I will wait for Q3 results to decide. for now, still the same personal ebitda targets for RWS and US&Bahamas segment; 800mil and 300mil respectively. RWNYC should be able to contribute 100mil by itself and 200mil from RWLV. Will exit if Q3 fails to meet the targets.

its accurate, Vin. that's the one we were discussing earlier with J and Daniel. What you are seeing is not even the peak yet :) the hold rate can go higher to 18% to 20% range versus the current 3 weeks data. The change is from VLT to Slots + Table Games; two revenue streams. Do note that there are no poker tables yet and that will come in phase 2.

Those are very encouraging numbers. I was worried that the current trend is moving away from gambling/smoking/drinking. Turns out, this is not the case and hopefully the momentum for RWNYC can sustain and eventually reflect onto GENT bottom line. Ultimately, I hope to see Malaysia casino operation move to a more liberal country. Then the constant fear of being closed down is removed forever, which bode well for share price

That's true Cheng. At the same time the complete takeover of GENM is a good optics and will bode well for the share price. We ultimately wants the share price to go up regardless of what. If business good but share price is low, that's useless for us too

That's a real concern Cheng. The owner plans with a generational timeline, which doesn't align with our goals. Considering the boss age, succession planning and laying the foundations for the next generation is more important to him than the share price or ratings of agencies. Those are only number on screen to him. But we depends on that for profit. This misalignment is a real concern

one more trading day to go b4 it enters June, Gent can acquire more than 2% outstanding shares but cant acquire above 2.35 price, world cup season in US, and not forgetting Taurx HMTM may obtain approval from UK MHRA after 24 months since the first application in June 2024.

the last transacted price for TauRx - TORONTO, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Dundee Corporation (TSX: DC.A) (the “Company” or “Dundee”) announced today that it has sold to a private investor 8,000 of the 1,015,008 shares it holds in TauRX Pharmaceuticals Ltd. (“TauRx”) at a price of US$125 per share for proceeds to the Company of US$1,000,000. The transaction remains subject to TauRx board approval. Following the completion of the transaction Dundee will continue to hold 1,007,008 TauRx shares.

Probably due to the nature of the company, J. Products/services related to clinical services and diagnostic tools of a biotech company. As for uptake, it's kinda a sure thing :) rationale for that is due to its oral medication instead of the other 2 approved by MHRA - intravenous infusion, expensive and adverse events/side effects.

Thanks, Daniel. The win/unit per day for slots is really strong and table games ggr hold rate is ~15% within the last 3 weeks range. There's opportunity there as it can go up to 18% which will easily add another 1.5mil ggr. As is, the weekly ggr is ranging from 26mil to 28 mil. Avg of 27 mil per week means 1.4bil rev per year. That's really strong.

the weekly ggr data pointing to min usd170mil qtrly revenue contribution and usd34.5mil to usd52mil qtrly ebitda based on 20% to 30% range of ebitda margin. I hope the mgmt will put focus on providing the best experience and ramping up the table games as this is where the ggr and revenue can swing high and low based on the hold rate. After all, the table games tax rate is at 30% versus 56% for slots. looking forward to its potential based on Q3 performance which will be reported end of the y

hi . cheng .. my fren attended AGM but I didn't ... he mentioned same as the article. gent maybe not going to buy genm anymore and won't Share buy back as well ... conclusion...
In future...need to pray guanying ma more than lkt ..

Genting share price is now lower (can even be lower in due course) than their previous mandatory general offer for GenM @ 2.35. We, Ikan Bilis, that hold on to the stocks or keep averaging down with high hopes have really been fully BBQ.

ooh got it. the sinchew article. There is a subtle meaning in the last 3 paragraphs, Vin. Currently, Genting integrates Genting Malaysia's finances into the group's balance sheet through a management agreement. However, with the progress of the New York project, and considering the exchange rate of approximately RM4 to 1 US dollar, New York's future performance will soon surpass that of Genting Highlands. "Since we do not have a management agreement for the New York project, once its performance surpasses that of Genting Highlands, Genting Group will no longer be able to integrate Genting Malaysia's financial statements according to guidelines, leading to very drastic changes in the entire balance sheet. Therefore, management must take action." However, he pointed out that it is fortunate that he already has less than 75% of Genting Malaysia's shares, which is a good thing. He has time to stop and rethink what can be done and has the ability to move the plan to the next stage within a year.

that's not the case, Vin. They have to do something with the RWNYC structure if RWNYC earnings surpasses GenM/RWG. Its back to spin off RWNYC from GenM and whether to list it separately or park it directly under Gent?

赌王父子强强联手！云顶重磅砸800亿跨界房产，柔佛科技智慧城震撼登场
another mega project at Johor...
GEnting LKT very hardworking.... everywhere seeing him around ..
RWNY...GENS..
but share price still like shxt

Agreed, Vin. A GDV of 80bil spanning an area of 930 hectares is implying ~ 35mil per acre. Building castle in the sky first. Lol, no pun intended. Well, it is just launching and no completion date. Can be 10 years can be 20 years or 30 years :) I guessed they are comparing the value of Johor Tech Smart City (the land and all the planned developments) against the value of similar development in Singapore. Orange to apple comparison. Singapore's land cost itself can go up to hundreds of millions per acre.

@cheng how do you interpret this part by the management?

Currently, Genting integrates Genting Malaysia's finances into the group's balance sheet through a management agreement. However, with the progress of the New York project, and considering the exchange rate of approximately RM4 to 1 US dollar, New York's future performance will soon surpass that of Genting Highlands. "Since we do not have a management agreement for the New York project, once its performance surpasses that of Genting Highlands, Genting Group will no longer be able to integrate Genting Malaysia's financial statements according to guidelines, leading to very drastic changes in the entire balance sheet. Therefore, management must take action."

RWNYC earnings surpasses RWG is just a matter of time, Daniel. It will happen. If you look at the current weekly data, it's pointing to usd150mil to usd200mil qtrly revenue; usd600mil to 800mil per year. This is based on ~240 tables and ~2500 slots for phase 1. The full upgrades by 2030 will have ~3x the current tables and slots. Which means the yearly revenue can go up to 1.8bil to 2.4bil. Let's not forget it is based on current hold rate ~15% instead of the common hold rate of ~18%.

The guidelines mentioned is probably related to accounting and taxation. Take action is probably related to where to "park" RWNYC. Genting Berhad owns 100% of RWLV and this model structure could be an option. Or list GenM's US assets separately. It doesn't matter which action pathway that mgmt chooses as long as it is the cheapest to execute and highest benefit in terms of paring down the debt, increasing shareholder returns instead of the owner.