Genting Singapore Loses Money

TracyTan866 · Aug 13, 2015

Genting Sing loses $17m for 2Q2015 compared to a profit of $103m for 2Q2014.

This shows that even resorting to vices doesn't help the PAP

Is this another indication that SG is heading towards recession?

TracyTan866 · Aug 13, 2015

TracyTan866 said:
Genting Sing loses $17m for 2Q2015 compared to a profit of $103m for 2Q2014.

This shows that even resorting to vices doesn't help the PAP

Is this another indication that SG is heading towards recession?

From Business Times:

"CASINO giant Genting Singapore swung into the red with a net loss of S$16.9 million in the second quarter ended June 30, 2015, from a profit of S$102.3 million in the year-ago period.

Including S$29 million apportioned to holders of perpetual securities, the gaming firm made a net profit of S$12.5 million, down 91 per cent from S$131.7 million a year ago.

Revenue fell sharply by 23 per cent to S$578.1 million, which the firm attributed to a "downturn of the gaming industry in Asia".

Resorts World Sentosa contributed a revenue of S$577.8 million, 23 per cent lower year on year due to the unfavourable global VIP premium business and rolling win percentage. This led gaming revenue to fall 28 per cent.

Genting Singapore posted a loss per share of 0.14 Singapore cent in Q2 2015 against an earnings per share of 0.84 Singapore cent previously. No dividend was recommended."

xebay11 · Aug 13, 2015

Scrap the $100 levy and everything will be good.

TracyTan866 · Aug 13, 2015

xebay11 said:
Scrap the $100 levy and everything will be good.

Good idea to save Genting and MBS.

If casinos in SG can lose money, SG is indeed in deep trouble.

But scrapping the $100 levy means many Singaporeans will die and families ruined

zookeeper · Aug 13, 2015

All go Malaysia Genting to play.
Hotel room for 2016 CNY already fully booked. :(:(:(

laksaboy · Aug 13, 2015

Malaysia Genting is more fun. Also, in 2016 the Fox Studios theme park will open in Genting Highlands. Looking forward to it. :wink:

In Sinkieland, the casino levy is like ERP: it does not solve the problem, it only enriches the govt coffers. :rolleyes:

Narong Wongwan · Aug 13, 2015

TracyTan866 said:
Good idea to save Genting and MBS.

If casinos in SG can lose money, SG is indeed in deep trouble.

But scrapping the $100 levy means many Singaporeans will die and families ruined

As long as can make money vile pappies will say it's a necessary trade off.
Lift the ban for those low income bankrupts also.....and lower admission age to 18 or lower.
Have casino roadshows to promote gambling. Pap will huat big big

laksaboy · Aug 13, 2015

zookeeper said:
All go Malaysia Genting to play.
Hotel room for 2016 CNY already fully booked. :(:(:(

I prefer to go during off-peak periods. It's cheaper, but more importantly it's less crowded, there are less pesky kids and obnoxious parents.

Kuailan · Aug 13, 2015

xebay11 said:
Scrap the $100 levy and everything will be good.

If gahmen scrapped the $100.00 entry fee for Stinkaporean, more suicide

robbery cases will emerge, you can't beat the Casino they always have the upper

hand!! Unless you're an Octopus with 8 hands!!

Than we shall blame it on the Basanova!!

rushifa666 · Aug 13, 2015

Still got drug dens to legalize no?

Froggy · Aug 13, 2015

Look at Najib's problems, you think the high speed rail will happen? Dream on. Genting's investments in Jurong will be fucked.

laksaboy · Aug 13, 2015

Froggy said:
Look at Najib's problems, you think the high speed rail will happen? Dream on. Genting's investments in Jurong will be fucked.

Good. I don't want waterfront hotels at Jurong Lake.

Froggy · Aug 13, 2015

Just look at what Lee Hsien Loong's casinos had turned our heartland into. This is treacherous, a betrayal of the trust.

Vote the PAP out. We deserve better.

Froggy said:
Used to live next to Clementi not too long ago. Clementi Central was just a small HDB central with sufficient amenities serving this small estate.

This morning went there to have the famous rojak, never in my life I would expect to see this lazy tiny central had been transformed into Clementi Financial Hub.

Thanks to the leadership of Lee Hsien Loong and his team, thanks to the Party PAP, thanks to MAS and the Ministry of Finance. Thanks to all these people's foresight - from fishing village to third world to first world and to Swiss Standard. Amen.

I simply took a short walk directly from the Clementi MRT station to the rojak stall - lo and behold

Second floor also have

Alamak its international too not just local

These are what I saw from where I walked I'm sure there are more in the other lanes.

TracyTan866 · Aug 13, 2015

zookeeper said:
All go Malaysia Genting to play.
Hotel room for 2016 CNY already fully booked. :(:(:(

Genting Highlands is cheaper, more fun, cooler.

SG is doomed

TracyTan866 · Aug 13, 2015

laksaboy said:
Malaysia Genting is more fun. Also, in 2016 the Fox Studios theme park will open in Genting Highlands. Looking forward to it.

In Sinkieland, the casino levy is like ERP: it does not solve the problem, it only enriches the govt coffers.

Yes, yes, yes...

TracyTan866 · Aug 13, 2015

Narong Wongwan said:
As long as can make money vile pappies will say it's a necessary trade off.
Lift the ban for those low income bankrupts also.....and lower admission age to 18 or lower.
Have casino roadshows to promote gambling. Pap will huat big big

wahh...pap may adopt your suggestions

TracyTan866 · Aug 13, 2015

laksaboy said:
I prefer to go during off-peak periods. It's cheaper, but more importantly it's less crowded, there are less pesky kids and obnoxious parents.

when are the off peak periods?

TracyTan866 · Aug 13, 2015

laksaboy said:
I prefer to go during off-peak periods. It's cheaper, but more importantly it's less crowded, there are less pesky kids and obnoxious parents.

How abt gambling on cruise ships like Superstar Gemini? Is it better than genting?
"

TracyTan866 · Aug 13, 2015

Kuailan said:
If gahmen scrapped the $100.00 entry fee for Stinkaporean, more suicide

robbery cases will emerge, you can't beat the Casino they always have the upper

hand!! Unless you're an Octopus with 8 hands!!

Than we shall blame it on the Basanova!!

Yes. Casinos have caused enough misery even with $100 levy

kopiOuncle · Aug 13, 2015

TracyTan866 said:
Genting Sing loses $17m for 2Q2015 compared to a profit of $103m for 2Q2014.

This shows that even resorting to vices doesn't help the PAP

Is this another indication that SG is heading towards recession?

Singaporeans are getting wiser and less are being addicted to gambling
Thanks to the PAP Government for an enlightened Gambling Laws
and HELPLINE. Only an enlightened government will do such a thing to stop Singaporeans from gambling.
This is a great government - a PAP Government.
Recession? No lah...many high rollers will still come and roll on the floor and on the deck. Haha..

Genting Singapore Loses Money

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian

Alfrescian (Inf)

Alfrescian

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian

Alfrescian

Alfrescian (InfP) + Mod

Alfrescian (Inf)

Alfrescian (InfP) + Mod

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian (Inf)

Alfrescian

Similar threads