Genting Singapore sees revenue decline in H1
Revenue was down 10 per cent year-on-year in the first half of the year.
Singapore.- Genting Singapore has published its financial results for the first half of 2025. Revenue was SG$1.21bn (US$945.1m), down 10 per cent in year-on-year terms. Gaming revenue was S$839.4m (US$336m), down 12.3 per cent compared to the same period of 2024. Revenue from hotel rooms fell 19 per cent.
Gross profit was down 16 per cent year-on-year from S$484.2m (US$376.9m) to S$406.9m (US$316.7m), while operating profit was down 33 per cent from S$450.9m (US$351m) to S$300.2m (US$233.7m). Net profit for the period came in at S$234.7m (US$182.8m), down 34 per cent from the H1 2024 period. Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) were S$423.7m (US$329.6m), down 26 per cent year-on-year.
The group recorded a 3 per cent revenue increase in the second quarter to S$588.3m (US$435.3m) supported by higher VIP rolling volume and win rates and a rise in visitors to Universal Studios Singapore, following the launch of Illumination’s Minion Land in February. Adjusted EBITDA for the second quarter stood at S$187.9m (US$139m), down 7 per cent.
Earlier this month, Genting Singapore announced the appointment of Lee Shi Ruh as the company’s president and chief operating officer, effective from August 1. Shi Ruh has been president of Resorts World at Sentosa (RWS) since September of 2023 and CEO since June of this year. She was previously CFO of Genting Singapore from 2010. The promotion comes as part of a leadership renewal led by executive chairman and acting CEO Tan Sri Lim Kok Thay.
