Shares of casino operator Genting Singapore (GENS.SI) fell as much as 2.8% to a one-month low on Wednesday after its rival Las Vegas Sands (LVS.N) reported disappointing quarterly profit at its casino in the city-state, Marina Bay Sands.
At 9:56 a.m., shares of Genting were 0.9% lower at $2.10 on a volume of 44 million shares, making it the most actively traded stock on the Singapore exchange.
At 9:56 a.m., shares of Genting were 0.9% lower at $2.10 on a volume of 44 million shares, making it the most actively traded stock on the Singapore exchange.
“There are concerns that Marina Bay Sands’ results weren’t so good and thus Genting may also underperform when they release their results,” said a local dealer.
Las Vegas Sands said its Singapore casino resort, which opened a year ago, generated adjusted earnings before interest taxes, depreciation and amortisation of US$284.5 million ($349.9 million) in the first quarter, which was well below the average Wall Street estimate of US$325 million.
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