Net profits after taxation for the year came to S$688.6 million (\u20ac455 million) down 9 percent year on year.<\/p>\n\n\n\n\n\n\n\n
Singapore.- Casino giant Genting Singapore delivered a pessimistic message about the year ahead after revealing disappointing 2019 financial results . <\/p>\n\n\n\n
According to numbers published today, the operator saw a year-on-year decline in both revenue and profits in 2019.<\/p>\n\n\n\n
Net profits after taxation for the year came to S$688.6 million (\u20ac455 million) down 9 percent year on year. Total revenues amounted to S$2.48 billion (\u20ac1.6 billion) down 2percent YoY.<\/p>\n\n\n\n
The operator also said the current Coronavirus impact would have a negative impact on its performance this year. <\/p>\n\n\n\n
\u201cWith the Novel Coronavirus issue that has created massive disruption to the travel and tourism industries, the Group is generally pessimistic about the outlook for the first half of 2020. We will be embarking on a stronger productivity drive and utilise this period to refresh and develop our offerings.\u201d<\/p>\n\n\n\n
The report noted that \u201cdesign and planning for RWS 2.0 is well under way,\u201d and highlighted its \u201cOnce A Pirate,\u201d an immersive dining and performance concept on the adventures of Asian pirates, which is on track to open in late 2020.<\/p>\n\n\n\n
Other upgrades in the works are the renovation of the Maritime Experiential Museum, a transformation of the waterfront promenade and two new destination hotels among other attractions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Net profits after taxation for the year came to S$688.6 million (\u20ac455 million) down 9 percent year on year.<\/p>\n","protected":false},"author":2,"featured_media":3451,"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 9% year-on-year decline in net profits to S$688.6 million and a 2% revenue decrease to S$2.48 billion for 2019. The integrated resort operator anticipates a pessimistic outlook for H1 2020 due to the Novel Coronavirus's impact on travel and tourism. In response, the company plans a stronger productivity drive and will refresh its offerings, including the ongoing RWS 2.0 development and new attractions.","focusai_entities":"Genting Singapore","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), product_ux (0.75), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"H1 2020 Impact","query":"What specific operational and financial metrics does Genting Singapore anticipate will be most adversely affected by the Novel Coronavirus in H1 2020, beyond general revenue and profit declines?"},{"label":"RWS 2.0 Investment","query":"What is the projected capital expenditure and expected ROI timeline for the RWS 2.0 development, and how will it be financed amidst current market uncertainties?"}],"footnotes":""},"categories":[160,163,16333],"tags":[29,169],"class_list":["post-3426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-finance-news","category-south-east-asia-news","tag-casino","tag-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/3426","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=3426"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/3426\/revisions"}],"predecessor-version":[{"id":3474,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/3426\/revisions\/3474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/3451"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=3426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=3426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=3426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}