Published
Land-BasedCasinoFinancial

Gaming revenue declined 8% to S$430m in Q1 at Genting Singapore

Genting Singapore's revenue fell 5% year-on-year to S$640m (US$469.4m) for Q1, as net profit also dropped 5% to S$205m.

gentingresortsworld

Gaming revenue at the company’s integrated resorts fell 8% to S$430m, while non-gaming revenue increased 1% to S$209m.

EBITDA for Q1 saw a decline of 2% to S$327m, as the operator said “geopolitical frictions continue to cast a cloud of uncertainty for 2019”.

As such, Genting Singapore plans to innovate its offerings and re-engineer marketing efforts to broaden the reach of Resorts World Sentosa.

Resorts World Sentosa has embarked on a “re-development investment of approximately S$4.5bn to expand and transform its integrated resort."

The company outlined plans for Japan in its first quarter report. Genting says it has taken steps towards opening integrated resorts, with some cities conducting feasibility studies and the Request-for-Concept process to better understand the potential and engage in dialogues with operators of integrated resorts.

A statement from Genting Singapore said: “Backed by the solid track record of operating in a highly respected jurisdiction and reinforced by a robust balance sheet, the group is well positioned to deliver a bid that will showcase a large-scale integrated resort destination which will enhance Japan’s tourism appeal and make significant contributions to its tourism economy.”  


Asia News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...