{"id":9158,"date":"2020-08-19T11:39:16","date_gmt":"2020-08-19T11:39:16","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=9158"},"modified":"2026-04-24T02:36:59","modified_gmt":"2026-04-24T05:36:59","slug":"genting-singapore-is-several-quarters-away-from-recovery","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-is-several-quarters-away-from-recovery","title":{"rendered":"Genting Singapore is “several quarters away” from recovery"},"content":{"rendered":"\n

According to analysts from Union Gaming Security, the company will not see a short-term recovery.<\/p>\n\n\n\n\n\n\n\n

Singapore.- Casino resort company Genting Singapore is \u201cstill several quarters away\u201d from recovery after the impact of the Covid-19 pandemic, according to analysts from brokerage Union Gaming Securities.<\/p>\n\n\n\n

The firm\u2019s Resorts World Sentosa is missing international tourism and it has yet to be seen how it will manage amid pandemic measures, with the drop in international tourism, which represented 80 per cent of the resort’s visitation.<\/p>\n\n\n\n

Analyst John DeCree said in the report: \u201cWhile some gaming markets in Asia like Macau and Cambodia are gearing up for a recovery, the near-term outlook for Singapore, and Resorts World Sentosa (RWS) specifically, remains cloudy”.<\/p>\n\n\n\n

Genting Singapore has recently revealed<\/a><\/em><\/strong> a\u00a0SGD163.3-million (US$119.2 million) net loss for the second quarter, compared to net profit of about\u00a0SGD168.4 million in the same period in 2019. The company\u00a0qualified the situation as the \u201cworst quarterly performance\u00a0since the opening\u201d of the Resorts World Sentosa complex in January 2010.<\/p>\n\n\n\n

Mr DeCree wrote: \u201cCurrently, Resorts World Sentosa is operating at 50 per cent capacity due to social distancing procedures. Further, the casino operators are only allowed to welcome existing loyalty club members with restrictions on issuing new memberships, which is limiting local visitation and one of the reasons we are cautious on any near-term recovery right now”.<\/p>\n\n\n\n

He concluded: \u201cWe are not expecting any meaningful recovery until international travel across Asia begins to resume more freely, which is still likely several quarters away.”<\/p>\n","protected":false},"excerpt":{"rendered":"

According to analysts from Union Gaming Security, the company will not see a short-term recovery.<\/p>\n","protected":false},"author":2,"featured_media":9163,"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's Resorts World Sentosa is projected to be several quarters away from recovery, primarily due to the sustained impact of reduced international tourism, which historically constituted 80% of its visitation. The company reported a significant SGD163.3 million net loss in Q2, its worst quarterly performance since 2010, exacerbated by operational restrictions like 50% capacity and limited access to existing loyalty members. Analysts from Union Gaming Securities highlight Singapore's cloudy near-term outlook compared to other Asian gaming markets.","focusai_entities":"Genting Singapore, Union Gaming Securities, Resorts World Sentosa, John DeCree","focusai_location":"Singapore, Macau, Cambodia, Asia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"RWS Recovery Strategy","query":"What specific operational and marketing strategies is Genting Singapore deploying to recalibrate its visitation mix and revenue streams at Resorts World Sentosa, given the protracted absence of international tourism and current loyalty program restrictions?"},{"label":"Regional Recovery Drivers","query":"Beyond international travel resumption, what specific policy interventions or market dynamics are positioning Macau and Cambodia for a comparatively swifter integrated resort sector recovery versus Singapore?"}],"footnotes":""},"categories":[160,28,163,16333],"tags":[12436,169],"class_list":["post-9158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-finance-news","category-south-east-asia-news","tag-casinos","tag-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9158","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=9158"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9158\/revisions"}],"predecessor-version":[{"id":9165,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9158\/revisions\/9165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9163"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}