Genting Singapore announces cash dividend
Genting Singapore will pay a final dividend of SG$0.02 (US$0.015) per ordinary share.
Singapore.- Genting Singapore has announced a cash dividend of SG$0.02 (US$0.015) per ordinary share for the year ending December 31, 2024. The dividend will be payable on May 27 to shareholders registered as of May 5. This distribution remains subject to shareholder approval at the annual general meeting to be held today (April 14).
In its financial results for the year 2024, the company reported a 5 per cent increase in revenue from SG$2.4bn (US$1.8bn) to SG$2.53bn (US$1.90bn) while net profit declined 5 per cent in year-on-year terms to SG$578.9m (US$432.7m). Gross profit reached SG$836.1m (US$626m), down 5 per cent year-on-year.
Resorts World Sentosa (RWS) delivered adjusted earnings before interest, tax, depreciation and amortisation of SG$990.5m (US$742m), representing 86 per cent of pre-Covid-19 adjusted EBITDA. Gaming revenue was SG$1.70bn (US$1.27bn), up 3.4 per cent year-on-year. Non-gaming revenue rose by 7.4 per cent year-on-year, to SG$826.1m (US$619m).
Resorts World Sentosa to open new luxury hotel in Q3
RWS has announced that The Laurus, a new luxury hotel resort developed with Marriott International, will open in the third quarter of the year. Part of The Luxury Collection Hotels & Resorts, it will replace the Hard Rock Hotel, which closed on March 2, 2024.
The hotel will have 183 suites, courtyard spaces, a function room, an outdoor swimming pool and spa, bar and an all-day concept restaurant.
Tan Hee Teck, CEO of RWS, said: “Our landmark collaboration with Marriott International to bring the very first The Luxury Collection branded property to Singapore further exemplifies our commitment to redefine luxury guest experiences. The Laurus, a Luxury Collection Resort, embodies the very essence of our ongoing pivot to offer curated destination experiences as part of RWS’ transformational expansion plans.
“We are thrilled to invite guests to immerse themselves in Singapore’s rich heritage, reconnect with the captivating beauty of Sentosa’s lush flora and fauna while experiencing RWS’ hallmark hospitality, defined by unparalleled sophistication, outstanding quality and innovation.”
