Genting Singapore pessimistic about 2020
Net profits after taxation for the year came to S$688.6 million (€455 million) down 9 percent year on year.
Singapore.- Casino giant Genting Singapore delivered a pessimistic message about the year ahead after revealing disappointing 2019 financial results .
According to numbers published today, the operator saw a year-on-year decline in both revenue and profits in 2019.
Net profits after taxation for the year came to S$688.6 million (€455 million) down 9 percent year on year. Total revenues amounted to S$2.48 billion (€1.6 billion) down 2percent YoY.
The operator also said the current Coronavirus impact would have a negative impact on its performance this year.
“With the Novel Coronavirus issue that has created massive disruption to the travel and tourism industries, the Group is generally pessimistic about the outlook for the first half of 2020. We will be embarking on a stronger productivity drive and utilise this period to refresh and develop our offerings.”
The report noted that “design and planning for RWS 2.0 is well under way,” and highlighted its “Once A Pirate,” an immersive dining and performance concept on the adventures of Asian pirates, which is on track to open in late 2020.
Other upgrades in the works are the renovation of the Maritime Experiential Museum, a transformation of the waterfront promenade and two new destination hotels among other attractions.
