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There is a total of 155 casinos in operation across UK during pre-Covid times. Out of 155, Genting UK owned 42 casinos. Casinos in Europe are different from Malaysia whereby you can easily find a casino at main streets that mostly operated in shoplots. Their bet size is also generally smaller than Genting Malaysia despite having higher currency rate.
In fact, Genting UK actually has online casino lisenced by UK Gaming Comission allowing UK citizens to play it online. This could be their business direction in the future to further justify closing down those brick and mortar casinos.
There are people who don't like to use their brain to process information further and only grasp what is fed to them, without spending time to study the nitty-gritty of news/hearsays. When news about closing insignificant casino shoplot, they simply think "omg! GENTING is gonna bankrupt, run!!". When news about thousands of cases in Malaysia, they think that we are all doomed, stock market will crash, without digging deeper into the big data with analysis of delta, logarithmic scaling.
Alan Li operating at loss due to pandemic. Now vaccine is around the corner, if everyone was vaccinated. Mostly recovery stock will come back like casino, consumer, banking and etc. Recently genting's share traded volume is less mean and no short selling happen u noe why? Because it is already undervalue and cash on hand is a lot can hold until the pandemic over. Even the price drop and many investors, retailers will support the price and hold without throwing.
Genting has 2 golden egg which is genm and gens. These 2 license is very hard to get. But they got it. And their life science business going to listed so will make genting price more valuable. Now they are bidding for japan casino. If got it then will monopoly in japan. If not mistaken, their newyork city casino is the only one casino in new york. Anyhow, this is my 2 cents.
Good news for US, assuming 60% vaccination on population resulting herd immunity, as earlier as May, US is recovering as per normal. Resort world Las Vegas to be open this summer Jul is not a dream. Cheers.
Alan, US has passed stimulate package up to USD 4.8 tri since 2020 to curb the pandemic, meaning more liquidity in the US market. I'll let the room for you to think how this would impact the Genting casino or the entire gaming industry in Las Vegas..
