Genting's Singapore property generating huge revenue numbers
Genting Resorts World Sentosa has been generating $7 million to $8 million a day in gaming revenue over the last week.
Gaming analysts Union Gaming Group indicated the property is believed to be generating earnings margins of 40 to 60 percent. It notes that initial levels for the property were in the $3 million per day range.
“To say these numbers are encouraging is a monumental understatement, especially without the influence of junket operators,” Union Gaming said in a note to investors.
It said two variables will be interesting to watch - one is the fact that the property has only been open since mid-February and may still ramp up. The other is the fact that Marina Bay Sands hasn’t opened yet, and that opening could affect the sustainability of those numbers.