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Genting Singapore and its sister company Genting Hong Kong have soared over the past few weeks on enormous trading volume. In fact, the two stocks have held the top spots on the volume league tables for several days in a row. At first glance, both stocks look horribly speculative. Best poker tips texas holdem. Yet, they have interesting stories behind them. And, in the short term, there is probably as much chance of them. Casino Live Sports. This site uses cookies to enhance your experience. You can find out more about cookies and how they work here.
GentingGroup, is one of the few Malaysian conglomerate. Genting Berhad isthe parent company to a few subsidiaries engaged in differentindustries. One of the most commonly known is the casino industry.When the word casino is in mind, the only place in Malaysia one couldthink of is Casino de Genting.
Why people only think of Genting?
The high barrier of entry into this industry awarded Genting such aprestigious status.
One of the reasons is government directive. Newfirms have a very minimal chance of entry because the government is strict andconservative in awarding another casino licence.
Currently, Genting Malaysia Berhad is holding the sole legal casinolicencing.Evenif there are no government interventions, another reason that mightdiscourage other firms from entering the market is that other firmsare aware that Genting is a large firm.
They currently holds a marketcapitalization of US $6.8 billion in the leisure and hospitalitybusiness, in which casino is the major business activity. They have amassive 200000 sq ft gaming space at Genting Highlands.Besides, thenumerous awards they received added the prestige of Genting.
Therefore, if new firms would like to enter this industry; they needa huge initial investment to stay competitive in the market, besidesfinding massive difficulty to match Genting's branding.
For thesereasons, new firms are also discouraged from entering this industry.
SinceGenting is a monopoly, they are price-setters.
In this case, they canfix the minimum bet for each type of gaming. Even if they increasethe minimum bet, it will not deter people from visiting and gamblingin the casino.This further exemplifies the characteristics of amonopoly.
Thismonopoly makes it possible for Genting to earn supernormal profits. This is mainly due to the high barriers of entry mentioned earlier.
From the graph, the area in green shows the supernormal profitsearned by monopolistic firms, which in this case indicates Genting.ShouldGenting continue to monopolize the Malaysian casino market?
Inmy opinion, the government should approve more casinos licensing inthe country to combat the black market. This would allow a muchhigher tax collection for our debt-ridden country.
Besides, itcreates job opportunities.
A better use of police resource
Asa conclusion, Casino de Genting is an example of a monopoly in thecountry. If the barriers of entry remain high, the chances ofmonopolization of Genting in the casino industry will be high.
Genting Group
http://www.gentingcasino.com/about-us/genting-malaysia/
Genting Group
http://www.gentingcasino.com/about-us/genting-malaysia/
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Michael Yeo (0314238)Genting Casino Competition 2019
Lim Foong Kien (0315622)Genting Online Casino
An under-construction hotel project by Nam Van Lake might serve as a foothold for Genting if the international casino operator decides to try its hand for a Macau gaming concession when the current six expire.
The project, provisionally titled 'Resorts World @ Macau', sits on a premium land parcel by Praça de Ferreira do Amaral, bulging into Nam Van Lake in the southern part of the Macau Peninsula. It is being developed by Treasure Island Entertainment Company, a local enterprise indirectly owned by Star Cruises, part of Genting Hong Kong, which promised to develop the property with or without a casino.
'Nobody would construct a hotel in that premium location without gaming,' said Ben Lee, managing partner of IGamiX Management & Consulting, when asked about the project.
'It's likely to be a four to five star hotel […] but, as we all know, a hotel without gaming is not a worthwhile investment in Macau,' said Lee.
The biggest question surrounding the new development is whether Genting Hong Kong will operate a future casino there with its own gaming license or through a partnership with one of the incumbent operators.
The property is tentatively set to open in 2022, the same year as Macau's casino concessionaire agreements expire.
Some analysts expect the Macau government will extend the concessions while the details of a new tender are being arranged. A renewal of up to five years from the end of the 20-year term is allowed under Macau gaming law.
Before then, the project will only be able to operate a casino under a service agreement extended by one of the six concessionaires.
Lee declined to speculate on which Macau concessionaire would be interested in extending such a service agreement, but said historically, 'SJM would be the most likely.' SJM manages the largest number of so-called 'satellite casinos', with most of their partner properties on the Macau Peninsula.
Earlier this month, Wynn Macau Vice Chairman Linda Chen was reported to have attended a topping-off ceremony for the project's construction, prompting some to speculate about a possible link. However, the American-owned concessionaire told GGRAsia that it had no affiliation with the new hotel project and said that Chen had been only 'invited as a guest.'
Lee previously told the Times that he considers Malaysia's Genting as the only outsider contender with a real chance of grabbing a license.
'If they win a concession, they can convert this property into a casino while negotiating another parcel of land, possibly from one of the losing concessions,' Lee told Macau Daily Times. Plus, 'it would help to have a local management team here,' he said, adding that there are experienced, non-local executives being made redundant by the existing concessionaires that could be recruited by Genting.
'I don't think that having this project [already operating] will enhance their position to win a concession, but it might enhance their profitability and help to generate cash flow [in the early period of the concession],' added Lee.
Repeated attempts to reach officials at Genting Hong Kong Ltd. went unanswered last week. A senior executive at Malaysian conglomerate Genting Group said she was unware of a hotel project being developed in Macau at all.
Genting Chairman Lim Kok Thay has not wavered from pursuing a Macau gaming license since the operator lost its bid in the 2002 tender.
In pursuit of that license, Genting had tried to establish a venture with the late gaming tycoon Stanley Ho. However, according to Bloomberg, the Macau government viewed the partnership unfavorably, considering that it would allow the consolidation of two major companies in the sector and lead to unfair competition.
Despite losing the 2002 tender, Genting has shown renewed interest in the Macau market on multiple occasions, most recently in March 2018 when the company attempted to enter the market through the acquisition of shares in Wynn Resorts.
The shares went to Galaxy Entertainment Group instead, leading the Macau casino operator to command a stake in its U.S.-based competitor of just under 5%.
In 2014, when the preparatory works for the project began, Treasure Island described the 21-storey property as a low-rise boutique hotel that would provide 'hundreds of rooms.'
According to information made available by the Land, Public Works and Transport Bureau (DSSOPT), the bureau approved an extension to the building construction license granted in mid-July 2017 for a period of three years. The land development usage period expired earlier this month and it is not clear whether an extension was ever granted.
In response to a Times enquiry, the DSSOPT declined to make any specific comments on the construction works, confirming only that the land plot development was being managed according to the terms of its usage. Daniel Beitler & Renato Marques
