Singapore gaming revenue could grow by 10% in 2024, Fitch Ratings says<\/a><\/p>\n\n\n\nThe company said it “remains passionate in its commitment to enhancing RWS\u2019 brand as Asia\u2019s premium tourism destination with elevated offerings and visitor experiences.”\u00a0<\/p>\n\n\n\n
It said: “The ongoing developments taking place at the Forum Lifestyle zone, Universal Studios Singapore\u2019s Minion Land and the Singapore Oceanarium are progressing well and on track to a soft opening in early 2025.\u00a0<\/p>\n\n\n\n
“The tenders have been issued for the new waterfront development, featuring 700 hotel keys and immersive lifestyle offerings, with tender returns expected in the second quarter of this year. Renovation and upgrading works in the entire resort will be refurbished in phases that will include all our existing hotels and food & beverage outlets, attractions and the casino.”<\/p>\n\n\n\n
Genting Singapore appoints Andrew MacDonald as director of RWS<\/h2>\n\n\n\n
In a separate statement, Genting Singapore has announced Andrew MacDonald, the chief casino officer of RWS since 1 September 2022, has been appointed as the director of the venue.<\/p>\n\n\n\n
The casino operator stated: “The nominating committee and the board have assessed and are satisfied that Andrew MacDonald has the qualifications and experience to be appointed as the director of RWS, the indirect wholly-owned subsidiary of the company.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Revenue was up 40 per cent year-on-year to SG$2.4bn (US$1.8bn).<\/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 robust 2023 financial results, with net profit surging 80% to SG$611.6m and total revenue increasing 40% to SG$2.4bn, primarily driven by a 34.1% rise in gaming revenue. Resorts World Sentosa's adjusted EBITDA recovered to 86% of pre-pandemic levels, as the company progresses with significant expansion and refurbishment projects, including new attractions and a waterfront development. Concurrently, Andrew MacDonald has been appointed Director of RWS, signaling continued strategic leadership focus.","focusai_entities":"Genting Singapore, Resorts World Sentosa (RWS), Universal Studios Singapore, Fitch Ratings, Andrew MacDonald","focusai_location":"Singapore, Sentosa","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), product_ux (0.7), marketing_crm (0.8), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"RWS Capital Expenditure Outlook","query":"Given the significant capital expenditure on RWS expansion and refurbishment, what is the projected ROI and timeline for these investments to materially impact NGR and EBITDA margins beyond 2025?"},{"label":"Gaming Vertical Performance","query":"Beyond the overall 34.1% gaming revenue increase, what specific gaming verticals (e.g., VIP, mass market, electronic gaming) drove this growth, and what are the strategic initiatives to sustain this momentum?"}],"footnotes":""},"categories":[163,16333],"tags":[23687],"class_list":["post-777013402","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\/777013402","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=777013402"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013402\/revisions"}],"predecessor-version":[{"id":777013440,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013402\/revisions\/777013440"}],"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=777013402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}