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The infection surges are another stark warning of how quickly the pandemic, driven by more infectious variants like B.1.617, first identified in India, can get out of control.
Business for Genting Singapore Ltd, the promoter of the Resorts World Sentosa casino complex (pictured in a file photo) in Singapore, is likely to be “one of the better tourism recovery stories due to its balance sheet strength and good control of Covid-19 in Singapore,” said a Sunday note from banking group Nomura, following the casino firm’s first-quarter earnings.
The firm had reported a net profit of SGD34.5 million (US$25.9 million) for the first quarter of 2021, down 73.7 percent from the previous quarter, according to a filing with the Singapore Exchange on Friday.
Nomura said it had anticipated there would be “not much further upside from domestic tourists” for Genting Singapore’s business, given the continued absence of meaningful numbers of foreign tourists, but that the extent of the decline in quarterly earnings had been “larger than we expected”.
KUALA LUMPUR (March 2): US-based law firm Cleary Gottlieb Steen & Hamilton LLP represented Genting New York LLC (GENNY) and its wholly-owned subsidiary GENNY Capital Inc in the group’s US$525 million (about RM2.13 billion) bond or senior notes offering, which was listed in Singapore,
Global Legal Chronicle reported today.
Casino and hotel operator Genting Malaysia Bhd wholly-owns GENNY, which developed and operates Resorts World Casino New York City, the only licensed casino facility within New York City and one of only two casinos located within 30 miles of the city limits of New York City, according to the
Global Legal Chronicle report.