As BT reported:
GENTING Singapore shares have been taking a beating, falling almost 30 per cent from its peak of about $1.30 per share a month ago to 94 cents on Friday.
Interestingly, Minister Mentor Lee Kuan Yew mentioned that the casino had 'earned' $3.5 million on the first day of operations and $3.7 million on the second day. And going by earlier analyst projections for annual gaming revenue, these figures are also on the low side.
conversion of $450 million worth of convertible bonds at 95 cents each to Genting shares last week.
Genting reported a net loss of $277.57 million for the year ended Dec 31, 2009 compared to a net loss of $124.8 million a year ago. Revenue for the period came to $491.22 million, down 22 per cent from $630.67 million a year ago.
pre-operating expenses at RWS of $103.4 million were incurred for recruitment, training, sales and marketing programmes.
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