Genting Singapore reports 55% drop in quarterly profit
The operator cited rising costs linked to geopolitical tensions and weaker gaming performance.
Singapore.- Genting Singapore has reported a decline in first-quarter profit after weaker gaming revenue and rising operating costs weighed on its results. The company posted net profit of SG$65.2m (US$51.2m) for the three months ended March 31, down 55 per cent compared to the same period last year. Revenue fell 3 per cent year-on-year to SG$607.6m (US$477m).
Gaming revenue totalled SG$403m (US$316), representing a decline of nearly 8 per cent from Q1 2025. Meanwhile, non-gaming revenue rose more than 8 per cent to SG$204.1m (US$160m), supported by higher visitor numbers to attractions at Resorts World Sentosa. Adjusted EBITDA fell 24 per cent year-on-year to SG$179m (US$140m).
“The ongoing conflict in the Middle East and current geopolitical developments have increased cost pressures across supply chains, including higher energy, freight and logistics expenses, while elevated airfares are weighing on travel demand and dampening consumer sentiment,” the company said.
Genting Singapore said business improved towards the end of the quarter, particularly in its gaming segment. It said it had made “steady operational progress” during the period and highlighted the growth in visitation to non-gaming attractions and entertainment venues.
