Casino Business -- Why Genting doing great

I've been many casino, Las vegas casinos, Atlantic City casinos, New Orleans horse shoe, Mississippi Grand, Harrahs, Horse Shoe and so on...

The 1 thing I find out big different between US casino and Genting is their complimentary and reward system.

In Most of the US casino, classic gambler you sit down and play minimum for a while, raise your bet to US100 1 hand for half an hour, you'll be able to get hotel room, buffet even premium VIP restaurant with red wine on the spot, don't even need 2nd visit or collect points. Whenever your birthday, Public holiday or even when casino management in good mood, they'll send you USD100/200/500 cash voucher for free, all you need to do is drive there collect cash and go away. Can you imaging how much casino spend on this complimentary thingy...

Now come back to malaysia our Uncle Lim casino -- genting, people who went to genting and play few hand should know they have point system, normal, green, silver, gold & Plantium card to collect points... certain point only entitle for a meal, few hundred point for a hotel room (cheapest 1st world hotel). This's how monopoly doing business compare to US casino, not even a free drink for you... (In US casino, you can sit down drink beer, wine, liquor while you're playing card for free)

A little bit of Genting History
Genting Highlands was founded by the late Lim Goh Tong (Tan Sri) in the late 1960s. Currently, this resort is being lead by Lim Goh Tong's son, Lim Kok Thay (Tan Sri) who is also the current president and CEO of Star Cruises company.

It is sometimes informally known as the Las Vegas of Malaysia, dubbed the "City of Entertainment" as it is the only legal land-based casino in the country and is run by Resorts World Bhd, a subsidiary of Genting Group. The resort, Genting Highlands Resort, also features many hotels owned by Genting subsidiaries including Awana Genting, First World Hotel, Genting Hotel, Highlands Hotel, Resort Hotel and Theme Park Hotel. Facilities in this resort include two theme parks, a Ripley's Believe It or Not! Museum, a wind-turbine sky diving simulator, golf courses and shopping malls.

Let's look at the latest financial report:

Revenue: 2102 million
P/L: 214 million
EPS: 5.8
PE: RM6.87 / 0.232 = 29

Without consider Balance sheet, debt, PE29 for monopoly business is a ok. As long as business keep growing soon or later Genting International open by next beginning of the year it will boost the revenue. For this kind of counter, you can keep for your son, grand son or grand grand son... ^_^