A couple of weeks ago, I attended Shares Investment annual investment conference as a guest speaker. It was then that I heard about the fall of one of Hong Kong hottest stock, Galaxy Entertainment (00027). Louis Wong, Phillips Securities (HK) Ltd Director told me when I sit beside him that this stock has fallen by half, from this year high of HK$84.50 to Oct low of HK$42.95.
The reason is that the betting revenue this year in general has been falling due to the clamp down by the China Government on the government officials. With less VIP rollers, betting revenue dropped. In fact the whole casino industry is affected! Genting Singapore as a result also dropped to $1.01 recently.
Despite this, I do think that this drop is oversold! Galaxy Entertainment will finish revamping the Old Grand Waldo casino by mid 2015. This will surely add to the revenue of Galaxy.
Below is the article:
http://www.ggrasia.com/galaxy-ents-revamped-grand-waldo-to-open-early-2015/
I am sure with the opening of the new casino in 2015, there will no doubt be a lot of expectations before the launch.
I think that this stock is oversold, and given its drop, may be poised for a rise in the long term. Although this stock has risen a bit to HK$53, I do think this stock has potential to increase more!
Could have updated this stock earlier when it is still HK$40 plus, but was busy. Nevertheless, I am looking into its 2015 casino launch.
Do remember that this stock is not a speculative short term play, but a long term investment!
Stock now: HK$53.90
Mid term target: HK$67
Long term target: HK$77
Stop loss: HK$44.70
The reason is that the betting revenue this year in general has been falling due to the clamp down by the China Government on the government officials. With less VIP rollers, betting revenue dropped. In fact the whole casino industry is affected! Genting Singapore as a result also dropped to $1.01 recently.
Despite this, I do think that this drop is oversold! Galaxy Entertainment will finish revamping the Old Grand Waldo casino by mid 2015. This will surely add to the revenue of Galaxy.
Below is the article:
http://www.ggrasia.com/galaxy-ents-revamped-grand-waldo-to-open-early-2015/
I am sure with the opening of the new casino in 2015, there will no doubt be a lot of expectations before the launch.
I think that this stock is oversold, and given its drop, may be poised for a rise in the long term. Although this stock has risen a bit to HK$53, I do think this stock has potential to increase more!
Could have updated this stock earlier when it is still HK$40 plus, but was busy. Nevertheless, I am looking into its 2015 casino launch.
Do remember that this stock is not a speculative short term play, but a long term investment!
Stock now: HK$53.90
Mid term target: HK$67
Long term target: HK$77
Stop loss: HK$44.70
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