• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GEN Sing warns of significant decline in 2Q profit

Aug 05, 2015 Newsdesk Latest News, Singapore, Top of the deck  


GEN Sing warns of significant decline in 2Q profit

Casino firm Genting Singapore Plc, operator of the Resorts World Sentosa casino resort (pictured) in Singapore, has warned investors that it expects to report “a significant decline in net profits after tax” for the quarter ended June 30.

“This is due mainly to fair value loss on derivative financial instruments as a result of unfavourable market conditions and unrealised foreign exchange translation losses,” the firm said in a Tuesday filing to the Singapore Exchange.

Genting Singapore added: “Notwithstanding the foregoing, on a theoretical normalised hold basis, the group expects its adjusted EBITDA [earnings before interest, taxation, depreciation and amortisation] for the second quarter of 2015 to be comparable to the preceding quarter.”

The firm stated that it should announce its financial results for the three months ended June 30 on August 13.

Maybank IB Research and Morgan Stanley Asia Ltd last month forecast in separate notes that Genting Singapore’s second quarter EBITDA and revenue would likely be up quarter-on-quarter. Samuel Yin Shao Yang of Maybank said in his note previewing Genting Singapore’s second quarter numbers: “Assuming a VIP win rate of 2.85 percent, we expect a second quarter 2015 earnings EBITDA of SGD275 million [US$198.5 million], up 20 percent quarter-on-quarter.”


  • tweet
Related articles
  • GEN Singapore says no ongoing talks on potential takeover
    GEN Singapore says no ongoing talks on...

    Jul 18, 2022  

  • MGM talked to Lims re GEN Singapore takeover: Bloomberg
    MGM talked to Lims re GEN Singapore...

    Jul 15, 2022  

More news
  • Microchip lack felt by slot makers says MGEMA boss Chun
    Microchip lack felt by slot makers says...

    Aug 05, 2022  

  • MGM China interim net loss widens to US$306mln
    MGM China interim net loss widens to...

    Aug 05, 2022  


Latest News

Microchip lack felt by slot makers says MGEMA boss Chun

Microchip lack felt by slot makers says MGEMA boss Chun

Aug 05, 2022  

A global shortage of computing microchips is currently the biggest challenge for gaming machine manufacturers, says businessman Jay Chun (pictured in a file photo), president of the Macau Gaming...
Read More
MGM China interim net loss widens to US$306mln

MGM China interim net loss widens to US$306mln

Aug 05, 2022  

Sands China US$1.95bln notes exchange deadline now Mon

Sands China US$1.95bln notes exchange deadline now Mon

Aug 05, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$57.4 million

Revenue produced by Konami Holdings' gaming and systems division – including casino equipment – in the three months to June 30



Most Popular

  • Microchip lack felt by slot makers says MGEMA boss ChunMicrochip lack felt by slot makers says MGEMA boss Chun August 5, 2022
  • Japanese get visa-free S.Korea entry for August: reportJapanese get visa-free S.Korea entry for August: report August 4, 2022
  • Ex Macau staffer named an EVP on Wynn’s UAE schemeEx Macau staffer named an EVP on Wynn’s UAE scheme August 4, 2022
  • Sands China US$1.95bln notes exchange deadline now MonSands China US$1.95bln notes exchange deadline now Mon August 5, 2022
  • MGM China interim net loss widens to US$306mlnMGM China interim net loss widens to US$306mln August 5, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us