Asia bulletin: Genting Singapore FY2022 revenue up 62%

Furthermore, 2022 saw Genting Singapore generate SG$601.8m in profit, an increase of 84% from 2021, while net profit attributable to ordinary shareholders was up 85%, at SG$340.1m. 

asia bulletin genting singapore
Listen To Article

Genting Singapore also generated adjusted EBITDA of SG$774.2m for the full year 2022, a 73% increase. 

The company’s adjusted EBITDA rose by SG$505.4m for H1 2022 and by SG$268.7m for H2 2022.  

Non-gaming revenue at Genting saw the greatest year-on-year rise of any category, at 90%, with Singapore free from many of Covid-19's restrictive lockdowns throughout 2022. 

Noting the financial improvements made throughout 2022, Genting Singapore expressed cautious optimism over its ability to fully recover from the lasting impacts caused of the Covid-19 pandemic.  

The statement read: “With the recovery of Singapore’s international visitors, the group’s performance rebounded strongly, with Resorts World Sentosa outperforming significantly over the pandemic years. 

“Flight capacity and economic uncertainties will moderate the pace of recovery. We are cautiously optimistic for a full recovery in the medium term.” 

Alongside its yearly financial report, Genting Singapore confirmed the reopening of the Festival Hotel at Resorts World Sentosa, which has been renovated to add 389 rooms. 

This hotel opening is but one in a line of others planned, with Genting Singapore expected to complete the construction of the Singapore Oceanarium and Minion Land at Universal Studios Singapore.  

Casino News Sponsor
Premium+ Connections
Premium Connections
Executive Profiles
Wynn Macau
MGM Resorts Japan
Bloomberry Resorts Corporation
Sightline Payments

Global Gaming Awards Asia: What to expect in 2023

Gambling Insider looks ahead to the Global Gaming Awards Asi...

The power of the rebrand

With the help of industry experts, Gambling Insider Editor T...

Evolution Europe CEO Gionata La Torre: The Italian job

Evolution Group’s new CEO Europe, sits down with Gambling...

Big Question: How can slots innovate from here?

Simon Hammon, CEO of Relax Gaming, Erkki Nikunen, Partner &...

Read Magazine

30 March, 2023

Wilfred Wong: Macau “cannot just rely on gaming”

Sands China’s President and Executive Director, Wilfred Wong, has echoed earlier calls by the Chinese Government to diversify the gambling province of Macau.