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$GENM (4715.MY)$ why is GENM going down when the crowd at Ge...
$GENM (4715.MY)$ why is GENM going down when the crowd at Genting Highland is crowdED??
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102262070 : Having more people at the casino does not mean making more money, the rise of online gambling is attracting the younger generation who are gambling on their phones. Most of Genting's customers are older folks and VIPs, many of whom have switched to online gambling. The black market gambling sites can earn billions in a quarter, while Genting only earns tens of millions, the difference is significant. Genting will no longer have the same income as before MCO, 2.00 Ringgit is considered high for him and affecting the share price.
103706768 102262070 : genting Q3 - Q4 tends to be good, a few more week untill earnings so we will see. the main reason why its down is the owner is too ambisios aiming for the US market while forgetting about the cash cow malaysian market