The board has also approved a final dividend of S$0.01 (US$0.007) per ordinary share.<\/p>\n\n\n\n\n\n\n\n
Singapore.- The board of Genting Singapore Ltd on Thursday has\u00a0reelected Lim Kok Thay as executive chairman<\/strong> at its annual general meeting. The company also announced that Chan Swee Liang Carolina, who was re-elected as a director at the AGM, will continue to serve as lead independent director, chairman of the remuneration committee and a member of the audit and risk and nominating committees.<\/p>\n\n\n\n The board also\u00a0approved a final dividend of S$0.01 (US$0.007) per ordinary share<\/strong>\u00a0as part of a series of resolutions. The final dividend will be paid on May 25.<\/p>\n\n\n\n Genting Singapore Ltd<\/a>, which operates the casino resort Resorts World Sentosa in Singapore, reported a strong year-on-year net profit of S$183.3m in 2021, compared with S$69.2m the year before.<\/p>\n\n\n\n As previously revealed by Focus Gaming News, Resorts World Sentosa (RWS)<\/strong> has confirmed it will carry out a phased refurbishment from this quarter to 2023. The plan will cover 1,200 units across its three hotels: Hard Rock Hotel Singapore, Hotel Michael and the Festive Hotel.<\/p>\n\n\n\n When completed, the Festive Hotel will be transformed into business leisure and working holiday hotel with a variety of mobile workspaces and lifestyle offerings to reflect new work trends, Genting Singapore said.<\/p>\n\n\n\n In February, the company revealed it would spend an aggregate of SGD400m (US$294m)<\/a> this year for phase two of the complex. The improvements are part of a S$4.5bn spending commitment to the Singapore government<\/a> announced by Genting Singapore in April 2019 under which it will retain half of the Singapore casino duopoly until 2030.<\/p>\n","protected":false},"excerpt":{"rendered":" The board has also approved a final dividend of S$0.01 (US$0.007) per ordinary share.<\/p>\n","protected":false},"author":176,"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 Ltd has re-elected its executive chairman and lead independent director, and approved a final dividend. The company reported a significant increase in 2021 net profit and confirmed the commencement of a phased S$400m refurbishment for Resorts World Sentosa, part of its S$4.5bn commitment to secure its casino duopoly in Singapore until 2030.","focusai_entities":"Lim Kok Thay, Chan Swee Liang Carolina, Genting Singapore Ltd, Resorts World Sentosa, Hard Rock Hotel Singapore, Hotel Michael, Festive Hotel, Singapore government","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.8), operator_casino (1.0), product_ux (0.7), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"RWS Refurbishment ROI?","query":"What is the projected return on investment for the S$400m Resorts World Sentosa refurbishment, and how is it anticipated to impact GGR and NGR performance?"},{"label":"Capital Allocation Strategy?","query":"How does the S$4.5bn capital commitment and the extension of the Singapore casino duopoly until 2030 influence Genting Singapore's long-term capital allocation strategy and competitive positioning?"}],"footnotes":""},"categories":[157,16333],"tags":[23687],"class_list":["post-29192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29192","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=29192"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29192\/revisions"}],"predecessor-version":[{"id":29215,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29192\/revisions\/29215"}],"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=29192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Resorts World Sentosa expansion plan to start this quarter<\/h2>\n\n\n\n