Will Casino go bankrupt before even starting?
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Stock market rattles Las Vegas Sands
By Esther Fung, TODAY | Posted: 23 October 2008 1211 hrs
Photos 1 of 1 
SINGAPORE : Questions have been raised about the health of United States gaming company Las Vegas Sands, which is building Marina Bay Sands resort here.
The company’s share price has plunged from a 52-week high of US$144.15 to Tuesday’s price of US$12.43 on concerns about a slowdown at its US operations, profitability of its Macau casinos and high gearing.
Mr Bill Eadington, director of the Institute for the Study of Gaming and Commercial Gaming at the University of Nevada in Reno, said the share price plunges at Las Vegas Sands and two other gaming firms reflect investor concerns about the firms, reported the online version of the Reno Gazette Journal.
“Either they are phenomenally good (stock) buys, or some of these companies are not going to be around,” he said.
In the worst-case scenario, if the US company goes bankrupt, Marina Bay Sands is unlikely to escape unscathed, said market observers.======================================
If Casino collapse, will it drag down the Banks which loaned it money to build the resort?
Which banks had loaned money to the Casino? POSB? DBS ?W ill they be affected? Will your money be affected?
Good luck to all involved....
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Today, newspaper talks about delay of IR project.
Next, probably details will be released on how government intends to "facilitate" the opening. If public fund is involved, probably that will be justified because government made money on land sale.
I think the delay will mean the weakening of the thesis of casino income, tourist money and foreigners supporting property rental. This is on top of recession impact on the GDP...
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frankly, watch us not care...
however, the impact would be that there may be a lot of people being retrenched before the goddamned thing even starts..
but that being said, places like Bermuda which economy revolves around ONLY banking and tourism, is now looking into gaming as the financial shit hitting the fan splattered them badly..
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So another guy is getting into gaming. Over here, Philippine also talked about gaming.
When everybody starts getting into gaming, then it is even harder to make money.
The winners were the construction companies who grabbed the first contracts, and the enbloc sellers who rode on the perceived influx of foreigner buyers/rental.
The operator is sitting on the debt and building and worried about cash flow (now) and competition (future).
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don't worry about the casino not opening on time. the government have publicise it so much that, i think they would step in and intervene if anything happens.
and well, even if the stocks of the casino operator is not doing well, it is none of their business anyway, since they have already made profit from the stocks currently out on the market.
there will only be a problem if they have to issue out new stocks to get more funds, but i doubt that is unlikely. the funds for singapore IR shd be more or less accounted for alr.
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Originally posted by deathmaster:
don't worry about the casino not opening on time. the government have publicise it so much that, i think they would step in and intervene if anything happens.
and well, even if the stocks of the casino operator is not doing well, it is none of their business anyway, since they have already made profit from the stocks currently out on the market.
there will only be a problem if they have to issue out new stocks to get more funds, but i doubt that is unlikely. the funds for singapore IR shd be more or less accounted for alr.
ya, dun worry so much, the govt will sure to step in and help, if after building the casino and the operator went bankrupt with no customers, govt can change it into Foreign Worker's Dormitories.
So, dun worry ya, we paid top scholars and think tanks to be our govt, not monkeys ya
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Originally posted by angel7030:
ya, dun worry so much, the govt will sure to step in and help, if after building the casino and the operator went bankrupt with no customers, govt can change it into Foreign Worker's Dormitories.
So, dun worry ya, we paid top scholars and think tanks to be our govt, not monkeys ya
yep lor it willnot go bankrupt onethe most change it into a chicken house
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Originally posted by noahnoah:
yep lor it willnot go bankrupt onethe most change it into a chicken house
It's everywhere now.
From geylang to chinatown to even residential areas.
Throw in marina bay, the country is one big house.
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Originally posted by noahnoah:
yep lor it willnot go bankrupt onethe most change it into a chicken house
hmm....with up to 5400 caught by Sep 08, it's guaranteed 100% occupancy rate -
conspiracy theory say,
ever wonder why Temasek is busying selling stake in power plant, chartered these days?
are they in a frenzy to raise cash to invest in a Casino?
the failure of Marina sands is more than a slap in the face of the ruling regime being reknowed for their efficiency and get work done but it will also probably bring down the 3 local banks that has make big loans to it.
so.. it will boil down, either you bailout the IR or the banks.
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Originally posted by reyes:
conspiracy theory say,
ever wonder why Temasek is busying selling stake in power plant, chartered these days?
are they in a frenzy to raise cash to invest in a Casino?
the failure of Marina sands is more than a slap in the face of the ruling regime being reknowed for their efficiency and get work done but it will also probably bring down the 3 local banks that has make big loans to it.
so.. it will boil down, either you bailout the IR or the banks.
Banks will always be top priority.
They don't want a fishing village to financial hub to fishing village scenario.
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Originally posted by noahnoah:
yep lor it willnot go bankrupt onethe most change it into a chicken house
and of course, please reserve some for duck house -
Originally posted by angel7030:
and of course, please reserve some for duck house
yes it is goodducks often hang out at raffles city
wow big business
why not u venture into duck business
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Originally posted by noahnoah:
yes it is goodducks often hang out at raffles city
wow big business
why not u venture into duck business
Ya, those ang mo uncle like duck...and singaporean ducks are not bad too. Maybe i can try, roast duck, peking duck and law duck -
Originally posted by reyes:
conspiracy theory say,
ever wonder why Temasek is busying selling stake in power plant, chartered these days?
are they in a frenzy to raise cash to invest in a Casino?
the failure of Marina sands is more than a slap in the face of the ruling regime being reknowed for their efficiency and get work done but it will also probably bring down the 3 local banks that has make big loans to it.
so.. it will boil down, either you bailout the IR or the banks.
no need to bail IR, they'll just remove the $100 thingy so locals can go in to "boost the economy"
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STPB is negotiating with casino co..some problems in obtaing funding..now delays in opening..material and labour cost up....likley > problems...but govt so much $$$ can easil provide or bend the banks' arm and forced them to provide > loans
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Banks will always be top priority.
They don't want a fishing village to financial hub to fishing village scenario.
if they bailout the Casino, it will benefits the 3 loca banks.
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no need to bail IR, they'll just remove the $100 thingy so locals can go in to "boost the economy"
dont worry, they will definitely remove the $100 entrance fee once, temasek or GLC had to fork out the capital for investment.
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Originally posted by reyes:
dont worry, they will definitely remove the $100 entrance fee once, temasek or GLC had to fork out the capital for investment.
since they always like to say "track record"
then based on their track record, once the shit hits the fan and more funds are needed they'll keep quiet and say something like
"i assure you the XXX IR is doing well but in order to show we are willing to admit there were mistakes in the begining and we are enlightened enough to make U turns we will now remove the $100 fee for all singaporeans to enjoy the resorts without the misunderstanding of being discriminated by their own govt. it was a honest mistake lets just move on"
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"i assure you the XXX IR is doing well but in order to show we are willing to admit there were mistakes in the begining and we are enlightened enough to make U turns we will now remove the $100 fee for all singaporeans to enjoy the resorts without the misunderstanding of being discriminated by their own govt. it was a honest mistake lets just move on"
you should be seriously be consider as spokeperson for the ruling party.
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Even if it doesn't go bankrupt before it officially opens, it will eventually go bankrupt. Remember that recession looms for Singapore? Do you still think people will be spending their cash on slot machines or baraccat?
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anyway I hope the collapse of IR...not to be mean or get some out of jobs but gambling is not help the nation or anyone too...
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anyway I hope the collapse of IR...not to be mean or get some out of jobs but gambling is not help the nation or anyone too...
i dont applaud the IR casino, but neither do i want the collapse of IR.
coz eventually,directly or indirectly, govt will recuperate the money from the taxpayers, not just income tax, but various forms of taxes.
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on hindsight, now you know they don't design the `tablet' for nothing. writings on the wall....
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have they calculated the social problems vs economic gains caused by gambling by settng up casinos here?
Prostitution
Bankruptcy
How many next-of-kin will be affected by a gambler
Rise in Crime rates (both organised and petty crime)
whether singapore will still be a 'Safe Haven' to live in.
more talents migrating?