Tag Archives: Resorts World Sentosa
Malaysia – Maybank predicts 70 per cent fall in EBIDTA for Genting Bhd
Maybank IR Research analyst Samuel Yin Shao Yang believes that the fall off in visitation to Resorts World Sentosa and Resorts World Genting could hit Genting Bhd’s EBIDTA by up to 70 per cent in 2020. The Singapore and Malaysia properties generate between 80 per cent and 90 per cent of Genting Bhd group earnings…
Singapore – No quick fix in sight as Resorts World Sentosa’s future ‘remains cloudy’
Union Gaming Security has said that Genting Singapore, operator of Singapore’s Resorts World Sentosa, is ‘still several quarters away’ from recovery after the effects of the coronavirus pandemic. The group suffered a net loss of $163.3m (US$119.1m) for the second quarter of 2020, the worst quarter since the opening of our Singapore Integrated Resorts, as…
Singapore – Genting Singapore to delay Sentosa expansion after worst ever financials
Having reported its worst set of financials since 2010, with GGR at Resorts World Sentosa down 99 per cent, Genting Singapore is delaying its expansion plans as well as adapting them to the ‘new norm’ of operating. The group suffered a net loss of $163.3m (US$119.1m) for the second quarter of 2020, the worst quarter…
Singapore – Resorts World Sentosa signs up for Canon’s intelligent surveillance
Genting’s Resorts World Sentosa casino in Singapore has entered into an agreement with Japanese multinational corporation Canon that will establish a partnership relating to ‘cutting-edge technologies, products and solutions’ for a world-class IR. Included in the ‘basic agreement’ is the implementation of Canon’s intelligent surveillance, security and video solutions, which, in addition to the gaming…
Singapore – Resorts World Sentosa confirms redundancies at Singapore casino
Singapore casino Resorts World Sentosa has confirmed it will lay off a ‘significant’ number of its workforce to cut costs. The casino, which employs more than 7,000 full-time workers, reopened at the end of June but remains severely impacted by the effects that the coronavirus pandemic has had on travel The resort said in a…
Singapore – Singapore’s two casinos to reopen on July 1
The Ministry of Trade and Industry and Singapore Tourism Board have confirmed that Singapore’s two casinos; Marina Bay Sands and Resorts World Sentosa will be able to open on July 1, operating at 25 per cent of capacity and subject to health and safety measures. Marina Bay Sands said access to the gaming floor would…
Singapore – Investigation at Marina Bay Sands could send VIPs to rival
Las Vegas Sands’ Singapore casino Marina Bay Sands is being investigated by the US Department of Justice (DOJ) for potentially breaching anti-money laundering laws. The DOJ has reportedly issued a subpoena to a former MBS compliance chief to provide documents and any other information related to the accounts of VIP players. The investigation concerns junkets…
Singapore – Entry fee hike squeezes Resorts World Sentosa’s revenues
As it gears up for the 10th anniversary of Resorts World Sentosa in March 2020, Genting Singapore confirmed a nine per cent year-on-year decline in revenue to SG$607.2m (US$438m) for the three months to December 31 2019, with a 13 per cent drop in casino revenue at Resorts World Sentosa, blamed on a higher entry…
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…
