Genting Singapore posts net profit of US$271.4m for H1

Genting Singapore’s profit was up 29 per cent from H1 2023.

Singapore.- Genting Singapore has shared its financial results for the first half of the year. It posted a net profit of SG$356.9m (US$271.4m), up 29 per cent from last year. Revenue was up 25.5 per cent year-on-year at SG$1.35bn.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) improved 26 per cent in year-on-year terms to SG$570.8m. The cost of sales in the six months to June 30 was up 29 per cent year-on-year at SG$871.5m.

Gaming revenue rose 28.24 per year-on-year to SG$957.6m and non-gaming revenue 18 per cent to SG$393.1m. Genting Singapore’s consolidated revenue was up 25 per cent to SG$1.35bn. Hotel rooms brought in SG$121.52m in revenue, while attractions were the biggest non-gaming contributor at SG$201.27m.

The company said the first phase of Resorts World Sentosa 2.0 comprising Illumination’s Minion Land and the Singapore Oceanarium, along with the ongoing development of our Central Lifestyle Connector and an all-suite hotel in place of Hard Rock Hotel, “remain on track for soft opening in early 2025”

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