Was quite eventful for Genting SP the past 2 months. Firstly, on 11th Nov 2016, Genting SP announced the divestment of its stake in the Jeju IR in South Korea (refer here). Then on 15th Dec 2016, Japan Government finally legalized casino after the idea was first debated in 2013.
The divestment of Jeju IR was quite a shocked to me given that next year the IR will commence operation and to divest without earning a single cent from it totally make no sense to me. Though, the explanation given by the company — after divestment, Genting SP will have a significant resources needed to be a strong candidate in the bidding process for the Japan IR should the casino bill being passed, still unable to convince me at that time given that the Japan casino bill has yet to be approved.
Then came 15th Dec 2016 the Japanese …Read the full article →