{"id":27374,"date":"2022-02-18T12:46:25","date_gmt":"2022-02-18T15:46:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27374"},"modified":"2026-04-23T11:12:08","modified_gmt":"2026-04-23T14:12:08","slug":"genting-singapore-second-half-net-profit-down-49","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-second-half-net-profit-down-49","title":{"rendered":"Genting Singapore second-half net profit down 49%"},"content":{"rendered":"\n

Net profit for the 6 months ended December 31 fell to S$95.1m (US$70.7m), down from S$185.9m (US$138.2m) in the same period of 2020.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Genting Singapore<\/strong> has reported earnings of S$95.1m (US$70.7m)<\/strong> for the second half of 2021. That’s a drop of 49 per cent <\/strong>compared to the same period of the previous year when net profits were S$185.9m (US$138.2m). Revenue for the period was also 17 per cent lower<\/strong>, at S$512.5m (US$381.2m).<\/p>\n\n\n\n

Second-half adjusted EBITDA fell 52.3 per cent year-on-year to just under S$171.9m (US$127.8m). Non-gaming revenue rose 2 per cent at S$147.2m (US$109.5m). For the full year<\/strong>, however, the group’s revenue improved marginally <\/strong>to S$1.067bn<\/strong> from S$1.064bn in 2002. Net profit was up 165 per cent at S$183.3m (US$136.3m).<\/p>\n\n\n\n

The company said: \u201cWhilst the Covid-19 pandemic has severely impacted the business of the group, there are signs that allow us a sense of optimism for the travel and tourism industry.<\/p>\n\n\n\n

\u201cWe are hopeful that with further relaxation of Singapore\u2019s Covid-19 related regulations<\/strong> and gradual resumption of mutual vaccinated travel lanes (VTLs), more travellers will return to Singapore in 2022.\u201d<\/p>\n\n\n\n

See also:<\/strong> Genting Singapore to post flat earnings this year, analysts say<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Net profit for the 6 months ended December 31 fell to S$95.1m (US$70.7m), down from S$185.9m (US$138.2m) in the same period of 2020.<\/p>\n","protected":false},"author":226,"featured_media":25660,"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 49% decline in net profit for H2 2021 to S$95.1m, with revenue also down 17% to S$512.5m, primarily due to the COVID-19 pandemic's impact. However, the full year 2021 saw a 165% increase in net profit to S$183.3m, despite only marginal revenue growth, with the company expressing optimism for 2022 driven by relaxed Singaporean regulations and vaccinated travel lanes.","focusai_entities":"Genting Singapore","focusai_location":"Malaysia, Singapore","focusai_target_profile":"ceo_executive (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"FY2021 Profit Drivers?","query":"Given the H2 2021 decline versus the full-year improvement, what specific operational efficiencies or non-gaming revenue diversification strategies contributed to the FY2021 net profit growth despite ongoing pandemic impacts?"},{"label":"2022 GGR Recovery Outlook?","query":"What is Genting Singapore's projected GGR recovery timeline for 2022, assuming continued relaxation of VTLs and a return to pre-pandemic visitation levels, and how might this impact capital expenditure plans?"}],"footnotes":""},"categories":[16338,163],"tags":[23687],"class_list":["post-27374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27374","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27374"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27374\/revisions"}],"predecessor-version":[{"id":27405,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27374\/revisions\/27405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25660"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}