Genting Singapore reports profit increase and revenue drop for Q2

Although the company made a profit in Q2, there was a 6% decrease in revenue, with Genting reporting S$560.3m.

There was an 8% decrease in gaming revenue, which brought in S$406m, while non-gaming revenue saw a 1% increase to S$153.5m.

The decrease in gaming revenue can be attributed to “luck.”

The Genting report read: “In the gaming segment, our VIP rolling volume showed encouraging year-on-year growth but luck factor was not in our favour.”

Genting said it continued to extend more credit to VIP players during Q2 which accounts for the revenue decrease.

The company also reported a 2% increase in EBITDA to S$280.7m.

Earnings per share have also seen an increase of 24% with the basic earnings per share now at S$1.47.

Meanwhile, Tjong Yik Min has been appointed as the Lead Independent Director, in place of Koh Seow Chaun.

Tjong Yik Min has also been appointed as a member of the Nominating Committee.

Stay updated with GI

Follow Gambling Insider for independent news, analysis and industry expertise.

Add as a preferred source on Google

Jake Patel

Gambling Writer

Jake Patel is a journalist and content writer who began his media career as an Editorial Intern at Gambling Insider from June to September 2018. During his internship, he pitched, researched and wrote news stories for the publication’s website, contributing daily coverage on industry developments across the global gambling and iGaming sector.

Jake also produced editorial content for several of the brand’s print titles — including Gambling Insider, Tribal Focus Magazine, Trafficology and US Gaming Focus. His work involved conducting interviews with industry professionals, supporting feature creation, and assisting with editorial content commissioned for advertising partners.

Visit Profile