{"id":777015433,"date":"2024-05-13T09:07:03","date_gmt":"2024-05-13T12:07:03","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015433"},"modified":"2026-04-22T10:20:08","modified_gmt":"2026-04-22T13:20:08","slug":"genting-singapore-posts-revenue-of-us580m-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-posts-revenue-of-us580m-for-q1","title":{"rendered":"Genting Singapore posts revenue of US$580m for Q1"},"content":{"rendered":"\n

Revenue was up 62 per cent from last year.<\/p>\n\n\n\n\n\n\n\n

Singapore.- Genting Singapore has published its\u00a0financial results for the first quarter of 2024<\/strong>. Revenue was SG$784.4m (US$580m), up 62 per cent\u00a0in year-on-year terms<\/a>\u00a0and up 21 per cent when compared to the previous quarter.<\/p>\n\n\n\n

The company posted gaming revenue of SG$576m (US$425.6m)<\/strong>, up 69 per cent year-on-year and up 31 per cent sequentially. Non-gaming revenue was SG$208.3m (US$154m), up 44 per cent year-on-year and up 1 per cent quarter-on-quarter.<\/p>\n\n\n\n

Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) were SG$369.5m (US$273m), up 93 per cent year-on-year and 62 per cent sequentially. Net profit was SG$247.4m (US$183m).<\/p>\n\n\n\n

Genting Singapore said Resorts World Sentosa (RWS) <\/strong>benefited from increased visitorship and tourism spending during the Chinese New Year festive season, as well as from the relaxation of visa regulations between China and Singapore in February 2024. <\/p>\n\n\n\n

Construction work for the new Minion Land, the Singapore Oceanarium, and the Central Lifestyle Connector remain on track for opening in phases from the first quarter of 2025. The ongoing tender for the new Waterfront development, including two hotels totalling 700 rooms, is expected to be awarded in the third quarter of this year, with on-site works targeted to commence by the fourth quarter of this year. <\/p>\n\n\n\n

The former Hard Rock Hotel, closed in March 2024<\/a>, is undergoing renovation and will be relaunched as a new all-suites luxury hotel in early 2025.<\/p>\n\n\n\n

See also: <\/strong>Analysts have positive outlook for Genting Singapore in 2024<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Revenue was up 62 per cent from last year.<\/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 Q1 2024 financial results, with revenue up 62% and gaming revenue up 69% year-on-year, driven by increased tourism and visa relaxations. The company's Resorts World Sentosa is undergoing significant expansion, including new attractions and hotel developments slated for phased openings from Q1 2025. These strategic investments aim to capitalize on sustained visitor growth.","focusai_entities":"Genting Singapore, Resorts World Sentosa, Hard Rock Hotel","focusai_location":"Singapore, China","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), product_ux (0.7), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Future CapEx Returns","query":"What are the projected ROI timelines and incremental GGR\/NGR contributions anticipated from the Minion Land, Singapore Oceanarium, and new hotel developments, particularly in attracting premium mass and VIP segments?"},{"label":"Regional Competition Impact","query":"How does Genting Singapore's current growth trajectory and expansion pipeline position it against emerging integrated resort developments in competing Asian jurisdictions, specifically regarding market share in the premium leisure and MICE segments?"}],"footnotes":""},"categories":[163,16333],"tags":[23687,23907],"class_list":["post-777015433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-genting-singapore","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015433","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=777015433"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015433\/revisions"}],"predecessor-version":[{"id":777026471,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015433\/revisions\/777026471"}],"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=777015433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}