{"id":222052,"date":"2022-07-19T16:17:44","date_gmt":"2022-07-19T21:17:44","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=222052"},"modified":"2022-07-19T17:35:02","modified_gmt":"2022-07-19T22:35:02","slug":"bank-says-genting-should-not-sell-any-part-of-singapore-business","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/","title":{"rendered":"Genting Has No Good Reason to Sell Singapore Arm, Says Bank"},"content":{"rendered":"<p>Aside from a one-time cash infusion, Genting Berhad has little reason to divest its Singapore unit, which owns the Resorts World Sentosa integrated resort.<\/p>\n<figure id=\"attachment_222056\" aria-describedby=\"caption-attachment-222056\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-222056\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4-142x80.jpg\" alt=\"Genting\" width=\"1200\" height=\"675\" \/><figcaption  id=\"caption-attachment-222056\"class=\"text-description\">Resorts World Sentosa. Nomura analysts say owner Genting Singapore has no good reason to sell itself. (Image: Resorts World Sentosa)<\/figcaption><\/figure>\n<p>That\u2019s the sentiment of analysts at Japanese investment bank Nomura, who in a Monday note say Genting Singapore should not consider selling itself outright, or even entertain the idea of a partial divestment to another company. <strong>The analysts\u2019 reasoning is simple: Resorts World Sentosa is the most profitable venue in the sprawling Genting gaming empire.<\/strong><\/p>\n<blockquote class=\"main-blockquote\"><p><strong>RWS generated the highest EBITDA among all of Genting\u2019s portfolios of gaming assets globally, both before and during the COVID-19 period. This comparison includes Malaysia\u2019s Resorts World Genting which is the next largest contributor,\u201d<\/strong> write the Nomura analysts.<\/p><\/blockquote>\n<p>The analysts\u2019 take on Genting Singapore arrives several days after reports surfaced that the Lim family, which controls Getting Berhad and 53% of the Singapore unit, <a href=\"https:\/\/www.casino.org\/news\/mgm-discussed-acquisition-of-genting-singapore-with-lim-family\/\">held takeover discussions<\/a> with MGM Resorts International (NYSE:MGM) that ultimately didn\u2019t produce a deal.<\/p>\n<h2>Plenty of Opinions on Genting Singapore Fate<\/h2>\n<p>Resorts World Sentosa is one of just two integrated resorts in Singapore, with the other being Marina Bay Sands, itself one of the most profitable gaming venues in the world.<\/p>\n<div class=\"callout\">\n<p>Genting and Las Vegas Sands have multi-decade duopoly protection, making the city-state an attractive destination for suitors. However, the Nomura analysts say the parent company has more to gain from fully retaining Genting Singapore than it has by selling even a partial interest in that unit.<\/p>\n<\/div>\n<p>\u201cAlso, being present in Singapore offers much-needed geographic diversification, and regulatory predictability to the group \u2026 case in point: the Singapore government raised gaming taxes in a gradual manner, with sufficient advance notice, as opposed to the Malaysian government raising gaming taxes by 10pp at one go,\u201d add the analysts.<\/p>\n<p>Still, other research firms note it\u2019s possible Genting Berhad could <a href=\"https:\/\/www.casino.org\/news\/genting-singapore-may-sell-stake-not-whole-company\/\">entertain selling a minority stake<\/a> in the Singapore entity to raise cash. That capital infusion would be used to reduce leverage and potentially make a move on a Macau concessionaire, according to analysts.<\/p>\n<h2>Other Reasons Not to Sell Genting Singapore<\/h2>\n<p>In a Monday filing with the Singapore Stock Exchange, Genting quashed rumors that it\u2019s holding ongoing discussions with other suitors. The company also acknowledged that Tan Sri Lim Kok Thay, executive chairman of Genting Berhad, <a href=\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/\">received an unsolicited takeover<\/a> offer from an unidentified company. But MGM wasn\u2019t mentioned.<\/p>\n<p>The regulatory document could be a sign that Genting Berhad is, in fact, planning to keep the Resorts World Sentosa in its portfolio. It has compelling financial reasons to do just that.<\/p>\n<p><strong>\u201cGenting Singapore is also the strongest group entity from a balance sheet perspective, with net cash of SG$3.1 billion as of end-2021, and dividends received from Genting Singapore help Genting Bhd to service interest on some of the latter\u2019s borrowings,\u201d <\/strong>conclude the Nomura analysts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aside from a one-time cash infusion, Genting Berhad has little reason to divest its Singapore unit, which owns the Resorts World Sentosa integrated resort. That\u2019s the sentiment of analysts at Japanese investment bank Nomura, who in a Monday note say Genting Singapore should not consider selling itself outright, or even entertain the idea of a [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":222056,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,32093],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank Says Genting Should Not Sell Any Part Of Singapore Business<\/title>\n<meta name=\"description\" content=\"Genting advised against selling any part of Singapore unit.\" \/>\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\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank Says Genting Should Not Sell Any Part Of Singapore Business\" \/>\n<meta property=\"og:description\" content=\"Genting advised against selling any part of Singapore unit.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/\" \/>\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=\"2022-07-19T21:17:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-19T22:35:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/\",\"url\":\"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/\",\"name\":\"Bank Says Genting Should Not Sell Any Part Of Singapore Business\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4.jpg\",\"datePublished\":\"2022-07-19T21:17:44+00:00\",\"dateModified\":\"2022-07-19T22:35:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Genting advised against selling any part of Singapore unit.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Resorts World Sentosa. Nomura analysts say owner Genting Singapore has no good reason to sell itself. 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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":"Bank Says Genting Should Not Sell Any Part Of Singapore Business","description":"Genting advised against selling any part of Singapore unit.","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\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/","og_locale":"en_US","og_type":"article","og_title":"Bank Says Genting Should Not Sell Any Part Of Singapore Business","og_description":"Genting advised against selling any part of Singapore unit.","og_url":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-07-19T21:17:44+00:00","article_modified_time":"2022-07-19T22:35:02+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4.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":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/","url":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/","name":"Bank Says Genting Should Not Sell Any Part Of Singapore Business","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4.jpg","datePublished":"2022-07-19T21:17:44+00:00","dateModified":"2022-07-19T22:35:02+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Genting advised against selling any part of Singapore unit.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS4.jpg","width":1280,"height":720,"caption":"Resorts World Sentosa. Nomura analysts say owner Genting Singapore has no good reason to sell itself. (Image: Resorts World Sentosa)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/bank-says-genting-should-not-sell-any-part-of-singapore-business\/#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 Has No Good Reason to Sell Singapore Arm, 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. 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