Genting is ranked the second largest gaming company in the world (in terms of market cap adjusted for gaming revenue only), by Global Betting & Gaming Consultants in its latest survey of the industry.
The top 5 are:
a. Las Vegas Sands : US $25.5bln
b. Genting : US $19.1bln
c. Sands China : US $16.7bln
d. Wynn Macau : US $12.4bln
e. SJM Holdings : US$9.0 bln
While Genting appears richly valued relative to the 3 listed Macau gaming companies, a fairer thing to do may be to compare Genting with the combined market of the 3rd-to-5th largest gaming companies, which comes to US$38.1 bln, ie Genting is half that of the 3 combined, which dominate the world's largest gaming market.
Fact is, Genting has started to receive less enthusiastic ratings by broking houses, especially since the release of Q3 results on Nov 11th, which pushed the stock down 17% in 7 sessions to a low of $1.95 on Nov 25th, from the $2.35 peak reached two days before the Q3 results. Genting has since rebounded to the $2.20 level.
Source
No comments:
Post a Comment