Genting Casino Competitors
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Malaysia had previously benefited as one of the few countries in the region that have a legal large-scale casino. However, more countries are starting to embrace gaming as another source of revenue. — Reuters photo
KUCHING: The biggest competition threat for Genting Malaysia Bhd’s (Genting Malaysia) mass and premium-mass segment is projected to come from the casinos in Cambodia, the Philippines and Vietnam.
Competitors: UNKNOWN Genting Malaysia Berhad works hard to make sure its customers play hard. The leisure and hospitality company operates hotel casinos, resorts, and theme parks in Malaysia. Genting Malaysia owns and operates major properties including Resorts World Genting in Malaysia, Resorts World Casino New York City in the US, over 40 casinos including Resorts World Birmingham in the UK and Resorts World Bimini in the Bahamas. It is listed on the main board of Bursa Malaysia with a market capitalisation of RM26 billion as of. GENS SP also intends to bid for 1 of 3 available casino licenses in Japan, it is likely that there will be at least 6 competitors including Genting of which 4 are from the US and 2 from Asia. The process will begin in 2H19 and the winners for the bid will be announced in late 2020/early 2021. By shifting its focus to Yokohama, Genting will be competing with the likes of Las Vegas Sands, Melco Resorts & Entertainment, and Wynn Resorts in hopes of landing one of the initial three Japanese.
Affin Hwang Capital believed that faced with stiff competition across the board, the grouop’s Malaysia property (Genting Highland) might not be as attractive to visitors as compared to the newer regional casinos.Genting Casino Competitors Stock
“Local players (premium mass and VIPs) might also be tempted to try out the new regional casinos offering better complimentary perks or rebates and accessible in under four hours by flight,” the research firm said.
However, Affin Hwang Capital believed that the local mass market segment might not be as badly impacted, as minor changes in the complimentary perks are still acceptable, such as higher rolling volume for rooms and meals, and others.
It noted that the mass market volume was around 50 per cent of overall volume in 2018.
“We believe that the biggest competition threat for Genting Malaysia for its mass and premium-mass segment are from the casinos in Cambodia, the Philippines and Vietnam, which are expanding their capacity significantly.
“Myanmar has also passed a new law in May to legalise gaming, leaving Thailand and Brunei as the only two countries within Asean in which casinos are still illegal.
“Malaysia had previously benefited as one of the few countries in the region that have a legal large-scale casino. However, more countries are starting to embrace gaming as another source of revenue.”
The research firm also believed that it would be challenging for Genting Malaysia to match the rebates and complimentary perks offered by regional casinos in lower tax rate jurisdictions, as it would need to sacrifice a significant margin to do so, given that gaming taxes are charged on the gross gaming revenue.Genting Casino Uk
“Minor tweaks on the complimentary perks are still largely acceptable to the mass and premium-mass players. However, the reduction in such rebates is unlikely to well accepted by the VIP players, as the rebates are based on a predetermined percentage of the overall bet of the player.”
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Malaysia had previously benefited as one of the few countries in the region that have a legal large-scale casino. However, more countries are starting to embrace gaming as another source of revenue. — Reuters photo
KUCHING: The biggest competition threat for Genting Malaysia Bhd’s (Genting Malaysia) mass and premium-mass segment is projected to come from the casinos in Cambodia, the Philippines and Vietnam.
Competitors: UNKNOWN Genting Malaysia Berhad works hard to make sure its customers play hard. The leisure and hospitality company operates hotel casinos, resorts, and theme parks in Malaysia. Genting Malaysia owns and operates major properties including Resorts World Genting in Malaysia, Resorts World Casino New York City in the US, over 40 casinos including Resorts World Birmingham in the UK and Resorts World Bimini in the Bahamas. It is listed on the main board of Bursa Malaysia with a market capitalisation of RM26 billion as of. GENS SP also intends to bid for 1 of 3 available casino licenses in Japan, it is likely that there will be at least 6 competitors including Genting of which 4 are from the US and 2 from Asia. The process will begin in 2H19 and the winners for the bid will be announced in late 2020/early 2021. By shifting its focus to Yokohama, Genting will be competing with the likes of Las Vegas Sands, Melco Resorts & Entertainment, and Wynn Resorts in hopes of landing one of the initial three Japanese.
Affin Hwang Capital believed that faced with stiff competition across the board, the grouop’s Malaysia property (Genting Highland) might not be as attractive to visitors as compared to the newer regional casinos.Genting Casino Competitors Stock
“Local players (premium mass and VIPs) might also be tempted to try out the new regional casinos offering better complimentary perks or rebates and accessible in under four hours by flight,” the research firm said.
However, Affin Hwang Capital believed that the local mass market segment might not be as badly impacted, as minor changes in the complimentary perks are still acceptable, such as higher rolling volume for rooms and meals, and others.
It noted that the mass market volume was around 50 per cent of overall volume in 2018.
“We believe that the biggest competition threat for Genting Malaysia for its mass and premium-mass segment are from the casinos in Cambodia, the Philippines and Vietnam, which are expanding their capacity significantly.
“Myanmar has also passed a new law in May to legalise gaming, leaving Thailand and Brunei as the only two countries within Asean in which casinos are still illegal.
“Malaysia had previously benefited as one of the few countries in the region that have a legal large-scale casino. However, more countries are starting to embrace gaming as another source of revenue.”
The research firm also believed that it would be challenging for Genting Malaysia to match the rebates and complimentary perks offered by regional casinos in lower tax rate jurisdictions, as it would need to sacrifice a significant margin to do so, given that gaming taxes are charged on the gross gaming revenue.Genting Casino Uk
“Minor tweaks on the complimentary perks are still largely acceptable to the mass and premium-mass players. However, the reduction in such rebates is unlikely to well accepted by the VIP players, as the rebates are based on a predetermined percentage of the overall bet of the player.”
Register here: http://gg.gg/nxs7z
https://diarynote-jp.indered.space
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