Yesh, Genting Intl. already building the casino hotel in Macau,
should be up and running by 2007. That's why they need the
IPO.
Anyway, its backed up by Macau govt. as they officially open the
casino market from the only Stanley Ho. So expect this:
1). Short term ==> If Genting gets IR bid in Sentosa, prices
will rise.
2). Even if Genting IR dont get the bid, Macau is up and running
==> prices stay, no drop.
3). 3-5 years down the road, AS LONG AS Genting announce yearly
profits (remember, DONT need to balance out the initial pumping in
of the money to build the IR's etc), the prices will remain stable
or rise progressively.
On point 3, it is generally difficult for casinos not to announce
yearly profits based on gaming. And you should NOT take the initial
pump in of money to check human psychology.
My bid: Good buy for Genting Intl.
4). When the Casino's are up and running, >6 years, prices
should have gone up by 30% at least from current price.
5). Also have to check out Mr. Lim's children if they are good
enough to handle father's business. Else will be same as the
current news about the Mongol. Touch wood, if father pass on, if
the son has reputation not good at managing, then prices will fall.
