There is a high probability that Genting share price is on a downfall trajectory when MBS's casino is opened at the end of April 2010. In fact, Genting share prices has been falling when the MBS's casino official inauguration date gets nearer and nearer.
As customers are always fond of novelties, majority of them would visit and play at MBS's casino instead to experience which of the two would be the preferred joint for themselves. Therefore, it is not a surprise for RWS to report a drastic drop in customers of at least 50% after the opening of MBS.
Singapore, afterall, is a small isle and I do not think that it can accomodate 2 casino resorts. Having 2 casino resorts will not widen the pie but cannibalize each other.
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5 comments:
Why do I believe that the 2 casino resorts in Singapore will have a hard time to succeed?
Well, the reason is very simple. Many asian countries will start to build their own casinos too.Asian cuntries that will have upcoming casinos in the future are vietnam, philippines, thailand, japan, taiwan and China.
How is Singapore going to attract asians to come to our casinos? That is a million dollar question!
MBS has gotten the licence for casino!
MBS will open its casino resort tomorrow. Good luck to Genting!
MBS has just stated that it will recoup its investment in 5 years. What about Genting RWS when Genting has been operating for many successive years of losses?
I believe the surge in Genting share price today is just an abberation and the share price will fall towards the close probably due to short coverings.
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