Las Vegas
Sands’ Singapore casino CEO resigns
Tags: Marina Bay Sands
Written by Medeline Ting
Friday, 28 January 2011 21:23
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Tom Arasi, chief executive of Marina Bay Sands, the Singapore
casino of U.S. group Las Vegas Sands (LVS.N), has resigned and will
leave on Feb. 18, according to a memo seen by Reuters on
Friday.
A Marina Bay Sands spokeswoman confirmed Arasi’s resignation but
declined to elaborate.
Marina Bay Sands, built at a cost of US$5.5 billion ($7.03
billion), opened its doors last April. It US$242 million in
earnings before interest, tax, depreciation and amortisation for
the quarter ended Sept 30, Las Vegas Sands said on Oct 27.
The U.S. casino group will report fourth-quarter results on Feb
3.
GENTING's share price has been under a lot of Shorties' Pressure
not Bulge Brackets', none of the BANKS are selling their Genting
shares, noting that Genting's 4th Quarter Results will be
Extraordinarily Higer than any of the previous Quarters, "big
operators" have been shorting the stock to consolidate at a lower
price in wait for the BIG WAVE. Results on the 18th FEB, any wonder
why Tom Arasi, the chief executive CEO of Marina Bay Sands, biggest
and one and only rival of Genting has resigned and will leave on
Feb. 18? Brokerages and banks have been keeping their "BUY" calls
even when the share price dropped 20cents in 1-2 weeks?
Coincidental? Do note from the chart, Genting "always" dropped the
previous 8-10days before the Significant RiseUp Rally of
20-30cents. The recent "bad air" surrounding Casino stocks involve
STANLEY HO, the billionaire, and his fight with his relatives over
his shares in the biggest casino stakes. Singapore "PUNTERS" or
should we just call them "OPERATORS", have been chancing on this
MUCH NEEDED news to SHORT the stock so as to consolidate at a lower
price. Genting is and will always be Punter's favorite for it is
easy to manipulate and retailer's are always one step forward two
steps back. CHINESE NEW YEAR what can we expect from Genting's
earnings? Where do people go during this 4days period but to try
their luck? The BIG CHINESE NEW YEAR rally coinciding with
GENTING'S fourth QUARTER results due later in the month is the
catalyst to push the price at least to a reasonable range of 2.3 -
2.5 based on NAVs and BUY CALLS targets of DBS VICKERS, OCBC
SECURITIES, KIM ENG, PHILIPS ranging from 2.5 to 2.7. Wonder why
none of the brokerages issued any "NEWS" regarding Genting while
still maintaining their BUYS even after a significant 20cents drop
in 1-2 weeks? NONE of the brokerages but KAYHIAN are opposite BUYS.
The recent price action has been the result of "syndicates of
operational SHORTIES'" consolidations and accumulations. CATCH THE
SHORTIES and FLY WITH THE BIG BOYS.