Tag Archives: Resorts World Sentosa
Singapore – Revenues fall at Resorts World Sentosa
Genting Singapore’s revenues dropped by five per cent in its first quarter to S$640m (US$469.4m) with net profit falling five per cent to S$205m. The Group said it ‘continued to perform healthily in the first quarter of 2019, with revenue of $640.4m and an adjusted e -gaming business registered its eighth consecutive quarter of year-on-year…
Singapore – Singapore’s expanding casinos hit with entrance fee and tax hikes
Entrance fees for locals going into Singapore’s two casinos have doubled with immediate effect in a move expected to wipe 15 per cent off the revenues of one operator. The levy has been increased from SG$100 to SG$150 for saying local attendance on the country’s two gaming floors has ‘declined significantly’ with the problem gambling…
Singapore – Genting remains cautious in Singapore despite rise in revenues
Genting Singapore has reported a 15 per cent increase in revenue to S$664.8m for the three months to 31 December 2018, as Resort World Sentosa stole some market share back from its market rival Marina Bay Sands. Its share of revenue in the Singapore market increased from 39 to 41 per cent. The increase was…
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…
Malaysia – Malaysia and Singapore show impressive growth for Genting
Gross Gaming Revenue at Malaysia’s Resorts World Genting (RWG) has increased by 19 per cent, reaching RM1.6bn in the first quarter of 2018, according to its owners Genting. The operator has also seen impressive gains at its Resorts World Sentosa (RWS) in Singapore with revenues there up to RM2bn for the first three months of…
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 – Resorts World Sentosa sees huge swing into profit
A remodelling of its commission and bad debt structure has seen Genting Singapore post net profits of $159.2m in the fourth quarter, up from a new loss of $7.8m in the same period last year. Its Resorts World Sentosa shrank its bad debt by 14 per cent to $38.9m as the group continued to tighten…
Singapore – Falling profits force Resorts World Sentosa to cut 400 jobs
Resorts World Sentosa in Singapore is making 400 casino employees redundant as it looks to become more efficient against falling revenues due to the slowdown in Chinese gamblers. Genting Singapore, which runs Resorts World Sentosa, reported an 83 per cent year-on-year decline in net profit to S$10.m in the first quarter up to March. As…
