The project is still scheduled to open in early 2010
Genting surges on speculation casino will open early in Singapore
(Singapore).- Genting Singapore Plc, which is building one of two casinos in the island nation, surged to a record on speculation its us$ 6.6 billion resort casino in the city-state will open ahead of schedule.
2009-09-04
Reading time 30 seg
The stock surged up to 9.3% to us$ 1.17. It recently traded 7.5% higher at us$ 1.15, set for its highest close since listing in Sept 1991. “It’s possible for the resort casino to open by the end of the year,” CLSA Asia Pacific Markets analyst Aaron Fischer said in a telephone interview this week.
The project is still scheduled to open in early 2010, according Robin Goh, spokesman at Resorts World, the Genting Singapore unit building the casino.
Fischer wrote in a note dated September 1 that Genting Singapore could be worth as much as us$ 3 based on the city-state’s potential gaming revenue of between us$ 3.2 billion and us$ 4.7 billion once the two casinos open next year. That compares with Macau’s us$ 14 billion gaming revenue.
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