{"id":777008086,"date":"2023-08-10T12:33:45","date_gmt":"2023-08-10T15:33:45","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777008086"},"modified":"2026-04-22T19:11:22","modified_gmt":"2026-04-22T22:11:22","slug":"genting-singapore-posts-net-profit-of-us205-6m-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-posts-net-profit-of-us205-6m-for-h1","title":{"rendered":"Genting Singapore posts net profit of US$205.6m for H1\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Genting Singapore\u2019s profit was up 227 per cent from H1 2022.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Singapore.- First-half net profit at <strong>Genting Singapore<\/strong> jumped by 227.7 per cent year-on-year <strong>to SG$276.7m (US$205.6m)<\/strong>. Profit was boosted by a strong VIP win rate and a rebound in the non-gaming business at Resorts World Sentosa.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Gaming revenue rose 57 per year-on-year to SG$746.9m (US$555m) and non-gaming revenue 82 per cent to SG$333.2m (US$248m).&nbsp;Genting Singapore\u2019s consolidated revenue was up 63 per cent to SG$1.08bn (US$803m). <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">First-half adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were up 68.4 per cent year-on-year at SG$452.5m (US$337m). Cost of sales in the six months to June 30 was up 46.3 per cent year-on-year at SG$677.2m.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Resorts World Sentosa<\/strong> generated adjusted EBITDA of US$268.4m, a 37 per cent increase from the previous quarter. The better EBITDA performance was \u201ca result of the rebound in non-gaming business, a higher-than-theoretical VIP win rate and recovery in regional gaming business,\u201d the company said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The firm noted that foreign visitor arrivals in Singapore continued to improve but that limited air capacity from certain regional countries and elevated airfares affected leisure travel.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>See also: <\/strong><a href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-rating-upgraded-to-buy\" data-type=\"URL\" data-id=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-rating-upgraded-to-buy\" target=\"_blank\" rel=\"noreferrer noopener\">Genting Singapore rating upgraded to \u201cBuy\u201d<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Genting Singapore\u2019s profit was up 227 per cent from H1 2022.<\/p>\n","protected":false},"author":226,"featured_media":0,"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 227.7% year-on-year increase in H1 net profit to SG$276.7m, driven by a robust VIP win rate and a significant rebound in non-gaming revenue at Resorts World Sentosa. Consolidated revenue grew 63% to SG$1.08bn, with adjusted EBITDA up 68.4% to SG$452.5m, signaling strong post-pandemic recovery despite regional air capacity constraints.","focusai_entities":"Genting Singapore, Resorts World Sentosa","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.95), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"VIP Win Rate Sustainability","query":"What specific operational or market factors contributed to Genting Singapore's higher-than-theoretical VIP win rate, and what is the projected sustainability of this performance given historical segment volatility?"},{"label":"Non-Gaming Revenue Strategy","query":"How does the H1 non-gaming revenue rebound at Resorts World Sentosa compare to pre-pandemic levels, and what strategic initiatives are planned to further diversify revenue streams beyond gaming verticals?"}],"footnotes":""},"categories":[163,16333],"tags":[23687],"class_list":["post-777008086","post","type-post","status-publish","format-standard","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\/777008086","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=777008086"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008086\/revisions"}],"predecessor-version":[{"id":777008102,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008086\/revisions\/777008102"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777008086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777008086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777008086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}