{"id":24388,"date":"2021-11-10T11:25:14","date_gmt":"2021-11-10T14:25:14","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24388"},"modified":"2026-04-23T13:58:30","modified_gmt":"2026-04-23T16:58:30","slug":"genting-singapore-revenue-down-9-for-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-revenue-down-9-for-q3","title":{"rendered":"Genting Singapore revenue down 9% for Q3"},"content":{"rendered":"\n

Genting Singapore has reported that revenue dropped 9 per cent quarter-on-quarter to SG$251.5m (US$186.8m).<\/p>\n\n\n\n\n\n\n\n

Singapore.- Genting Singapore has published\u00a0financial results for the third quarter of 2021<\/strong>, reporting a\u00a0decrease in revenue of 16 per cent year-over-year<\/strong>\u00a0and 9 per cent compared to the previous quarter. The company also reported\u00a0a drop in EBITDA to SG$102.5m (US$76.1m), down 30.7 per cent<\/strong>\u00a0when compared to the previous quarter and down 31.2 per cent year-on-year.\u00a0<\/p>\n\n\n\n

Gaming revenue came in at SG$194.7m (US$144.6m) for the third quarter\u00a0<\/strong>while net profit fell from SG$54.4m in Q3 2020 to SG$60.7m. The figure was also down 13 per cent quarter-on-quarter. Genting Singapore attributed\u00a0the decline in revenue to Covid-19 countermeasures<\/strong>\u00a0imposed by the government.<\/p>\n\n\n\n

Analysts at banking group Nomura have predicted\u00a0Genting Singapore Ltd\u2019s EBITDA for full-year 2021 will come in at SG$490m (US$363.6m)<\/strong>, a decrease on its previous forecast.\u00a0Analysts said that as China is still pursuing a “zero-Covid strategy”, Genting Singapore’s revenues will be affected into 2022 as China was the most important overseas market before the pandemic.<\/p>\n\n\n\n

However, Singapore has started to ease Covid-19 restrictions and has recently announced the launch of a\u00a0travel bubble with Malaysia<\/a>\u00a0from November 29.<\/p>\n\n\n\n

Genting Singapore H2 earnings to be similar to H1, analysts say<\/h2>\n\n\n\n

According to Nomura<\/a>,\u00a0Genting Singapore\u2019s earnings\u00a0<\/strong>for the second half will be similar to those registered during the first quarter of the year or even below that level. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the first half was\u00a0SGD276.1m<\/strong>, compared to SGD66.7m in the first half of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Singapore has reported that revenue dropped 9 per cent quarter-on-quarter to SG$251.5m (US$186.8m).<\/p>\n","protected":false},"author":176,"featured_media":21474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Singapore reported a significant decline in Q3 2021 financial performance, with revenue down 9% quarter-on-quarter and EBITDA falling 30.7% QoQ, primarily due to government-imposed Covid-19 countermeasures. Gaming revenue also decreased, impacting net profit. Analysts from Nomura have consequently lowered their full-year 2021 EBITDA forecast, citing China's persistent \"zero-Covid strategy\" as a continued headwind, despite Singapore's recent easing of travel restrictions and the establishment of a travel bubble with Malaysia.","focusai_entities":"Genting Singapore, Nomura","focusai_location":"Singapore, China, Malaysia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"China Zero-Covid Impact","query":"What is the projected timeline and magnitude of the impact of China's \"zero-Covid strategy\" on Genting Singapore's premium mass and VIP gaming segments, and what mitigation strategies are being deployed?"},{"label":"Regional Travel Bubble Efficacy","query":"How will the recently launched travel bubble with Malaysia specifically contribute to the recovery of Genting Singapore's GGR and NGR, and what is the anticipated ramp-up period for these benefits?"}],"footnotes":""},"categories":[163,16333],"tags":[23687],"class_list":["post-24388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=24388"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24388\/revisions"}],"predecessor-version":[{"id":24414,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24388\/revisions\/24414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21474"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}