Tag Archives: Genting Singapore
Japan – Osaka casino tender to start in earnest in December
Hirofumi Yoshimura, the Governor of Osaka Prefecture, has confirmed that Osaka will launch the next stage of its formal tender process for an IR operator in December. With a series of big-name, international casino operators pulling out of Osaka, the tender is now believed to include just three casino names: MGM Resorts, Genting Singapore and…
Singapore – Mass gaming down for Genting Singapore but VIP stabilises results
Genting Singapore posted a decline of five per cent in net profit to $168.4m in the second quarter of 2019 as compared with the corresponding quarter last year. Its revenue though increased by 13.6 per cent topping $460.6m. Amidst a confluence of challenging headwinds, this decline would have been significant if not for the high…
Singapore – Revenue dips for Genting Singapore due to low hold
Revenue for Genting Singapore dropped by six per cent to SG$560.3m in the second quarter of 2018 due to low hold in both the VIP and mass segments of its casino operation at Resorts World Sentosa. The group reported Adjusted EBITDA of $265.9m. The company stated: “Resorts World Sentosa continues to be at the forefront…
Singapore – Genting Singapore reports 79 per cent profit increase in 2017
Genting Singapore, the operator behind Resorts World Sentosa in Singapore, experienced a fall in operating profit in its fourth-quarter earnings at casino operator although net profit for the year as whole increased 78 per cent to $685.6m from $384.5m a year ago. Net profit for the three months to Dec 31 fell by 17 per…
Singapore – Steady VIP sector gives Genting Singapore third quarter of growth
Genting Singapore has reported a 24 per cent year-on-year increase in second quarter revenue to $596.1m, giving it three sequential quarters of growth. It said the increase was attributable to higher rolling win percentage in the premium player business. EBITDA came in at $292.7m, representing a 152 per cent increase. The company stated: “We continue…
Singapore – Shares in Genting Singapore at lowest since 2010
Genting Singapore, owner of Resorts World Sentosa has seen its share price drop 2.8 per cent to their lowest level in more than four years due to a weakness in Sinapore’s VIP sector. The group’s shares dropped to S$1.06, their lowest since June 2010. They have fallen by almost 30 per cent so far in…
South Korea – Delays hit Genting’s Resorts World Jeju ground-breaking ceremony
Genting Singapore’s plans to build a US$2.2bn casino resort in South Korea’s Jeju Island are facing delays prior to a ground-breaking event on June 24. Despite having already sent out invitations for guests and the media to attend, Genting has decided to reschedule the ground-breaking ceremony. Genting Singapore stated that the postponement was to give…
