Genting Singapore: why its share price in free fall
It was with much excitement and anticpation that Singaporeans awaited the opening of Genting Singapore casino.
Now that the initial excitement and buzz have died down, it appears the casino is fast losing its appeal, at least among the locals.
A friend, who succumbed to the lure of the casino, related that there were few customers trying their luck at the jackpot machines.
The main reason he surmised was the mandatory $100 entrance fee for locals.
“Otherwise, you’d see Ah Kong, Ah Mah and retirees at the casino,” he said.
Like ERP, isn’t it? Put up barriers, and motorists avoid the city which becomes a dead place (see my posts in the last two days.)
Little wonder then that Genting shares are in a free fall.