{"id":221587,"date":"2022-07-16T16:50:17","date_gmt":"2022-07-16T21:50:17","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=221587"},"modified":"2022-07-16T19:50:59","modified_gmt":"2022-07-17T00:50:59","slug":"genting-singapore-may-sell-stake-not-whole-company","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/","title":{"rendered":"Genting Singapore Could Opt for Partial Sale Due to Bond Issues, Says Bank"},"content":{"rendered":"

News that MGM Resorts International (NYSE:MGM) may have held talks with the Lim family about acquiring Genting Singapore is the gaming industry\u2019s epic rumor of the week. But some analysts say the Resorts World Sentosa shouldn\u2019t sell itself outright.<\/p>\n

\"Resorts
Resorts World Sentosa. Analysts say Genting Singapore should sell a stake, not the whole company. (Image: Inside Asian Gaming<\/em>)<\/figcaption><\/figure>\n

The Lims, which control the vast Genting Berhad empire, own 53% of Genting Singapore. Shares of the casino operator spiked 9% Friday when reports regarding the MGM talks<\/a> hit the wires. But the Asian gaming company later requested that the Singapore Stock Exchange halt trading in the shares.<\/p>\n

\n

In a note to clients, JPMorgan analysts imply there\u2019s credibility to the rumors. A Bloomberg<\/em> article, which was the first on the matter, cites unidentified sources saying MGM discussed an acquisition with the Lims. But the talks didn\u2019t produce a deal. Likewise, other unspecified suitors are said to be mulling offers for Genting Singapore.<\/p>\n<\/div>\n

While the operator of one of Singapore\u2019s two integrated resorts undoubtedly makes for an attractive takeover target, particularly for a gaming company looking to enter or expand in Asia, the JPMorgan analysts believe the sale of a partial stake is more likely than a full takeover of Genting Singapore.<\/strong><\/p>\n

Hurdles to Full Sale<\/h2>\n

There are some potential roadblocks that could hinder an outright sale of Genting, and those issues center around corporate debt.<\/p>\n

Genting Singapore is the vehicle through which the parent conglomerate services some of its obligations. Under the terms of one of its issues, the Singapore gaming outfit must remain in control of Genting. Another tranche of bonds previously sold by Genting is tied to Resorts World Las Vegas<\/a>, and carries a clause that if Genting Singapore is acquired by another company, the debt tied to the Strip casino can be redeemed prior to maturity.<\/p>\n

If the Lims pursue a partial sale of Genting Singapore, the parent company could bolster liquidity with which to service debt and potentially make a long-awaited entry into Macau.<\/p>\n

This also offers GENT a potential entry into Macau, the missing puzzle in the group,\u201d<\/strong> according to the JPMorgan analysts. \u201cGenting Group considered SJM nearly a decade ago, but the idea did not go beyond the CRA.\u201d<\/strong><\/p><\/blockquote>\n

Under the terms of Macau\u2019s new gaming laws, the amount of concessionaires operating there remains at the current tally of six. That means operators wanting to enter that jurisdiction need to do so via acquisition. It\u2019s not confirmed that Genting will make another run at SJM Holdings. But the Grand Lisboa owner is widely viewed as in the worst financial shape<\/a> of the six concessionaires.<\/p>\n

Why Stake Sale Makes Sense<\/h2>\n

If it\u2019s capital Genting is searching for, selling a percentage of its Singapore arm may make more sense than divesting the entire unit.<\/p>\n

The reasoning is simple. Resorts World Sentosa is one of just two casinos there, and the city-state is more open than other countries in Asia, indicating that a sale of Genting Singapore over the near-term could prove hasty and limit the operator\u2019s ability to participate in a rebound.<\/strong><\/p>\n

There\u2019s already talk in the gaming community<\/a> demand is bouncing back in Singapore, indicating Genting may not want to rush to completely divest its operation there.<\/p>\n","protected":false},"excerpt":{"rendered":"

News that MGM Resorts International (NYSE:MGM) may have held talks with the Lim family about acquiring Genting Singapore is the gaming industry\u2019s epic rumor of the week. But some analysts say the Resorts World Sentosa shouldn\u2019t sell itself outright. The Lims, which control the vast Genting Berhad empire, own 53% of Genting Singapore. Shares of […]<\/p>\n","protected":false},"author":46,"featured_media":221589,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,1],"tags":[],"acf":[],"yoast_head":"\nGenting Singapore May Sell Stake, Not Whole Company<\/title>\n<meta name=\"description\" content=\"Genting Singapore may do well to sell a partial stake,not whole company, say analysts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genting Singapore May Sell Stake, Not Whole Company\" \/>\n<meta property=\"og:description\" content=\"Genting Singapore may do well to sell a partial stake,not whole company, say analysts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-16T21:50:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-17T00:50:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1140\" \/>\n\t<meta property=\"og:image:height\" content=\"758\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/\",\"url\":\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/\",\"name\":\"Genting Singapore May Sell Stake, Not Whole Company\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS2.jpg\",\"datePublished\":\"2022-07-16T21:50:17+00:00\",\"dateModified\":\"2022-07-17T00:50:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Genting Singapore may do well to sell a partial stake,not whole company, say analysts.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS2.jpg\",\"width\":1140,\"height\":758,\"caption\":\"Resorts World Sentosa. Analysts say Genting Singapore should sell a stake, not the whole company. (Image: Inside Asian Gaming)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia Pacific Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Genting Singapore Could Opt for Partial Sale Due to Bond Issues, Says Bank\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Genting Singapore May Sell Stake, Not Whole Company","description":"Genting Singapore may do well to sell a partial stake,not whole company, say analysts.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/","og_locale":"en_US","og_type":"article","og_title":"Genting Singapore May Sell Stake, Not Whole Company","og_description":"Genting Singapore may do well to sell a partial stake,not whole company, say analysts.","og_url":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-07-16T21:50:17+00:00","article_modified_time":"2022-07-17T00:50:59+00:00","og_image":[{"width":1140,"height":758,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS2.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/","url":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/","name":"Genting Singapore May Sell Stake, Not Whole Company","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS2.jpg","datePublished":"2022-07-16T21:50:17+00:00","dateModified":"2022-07-17T00:50:59+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Genting Singapore may do well to sell a partial stake,not whole company, say analysts.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS2.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS2.jpg","width":1140,"height":758,"caption":"Resorts World Sentosa. Analysts say Genting Singapore should sell a stake, not the whole company. (Image: Inside Asian Gaming)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Asia Pacific Gaming","item":"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/"},{"@type":"ListItem","position":3,"name":"Genting Singapore Could Opt for Partial Sale Due to Bond Issues, Says Bank"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/221587"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=221587"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/221587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/221589"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=221587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=221587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=221587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}