Casino operator Genting Singapore Ltd reported aggregate revenue of SGD649.8 million (US$497.9 million) for the three months to September 30, up 15.6 percent from the prior-year period.
The company posted a third-quarter net profit of SGD94.6 million, 19.2-percent higher than a year earlier, according to a Thursday announcement.
Genting Singapore is the operator of Resorts World Sentosa (pictured), one of Singapore’s two casino resorts. The firm is a subsidiary of Malaysian conglomerate Genting Bhd.
Earnings before interest, taxation, depreciation, and amortisation (EBITDA) for the reporting period rose 34.0 percent year-on-year, to SGD204.2 million.
The group recorded gaming revenue of nearly SGD402.3 million in the July to September period, a 21.9-percent increase from a year ago. Non-gaming revenue grew by 6.7 percent year-on-year, to SGD247.3 million.
The casino firm said in Thursday’s filing that the opening of the Singapore Oceanarium and the launch of a revamped retail area dubbed “WEAVE”, during the month of July, gave “new vibrancy” to Resorts World Sentosa, “attracting higher footfall and strengthening non-gaming revenue”.
In October, outside the reporting period, Genting Singapore opened The Laurus hotel, part of The Luxury Collection Hotels & Resorts portfolio, at Resorts World Sentosa
“The group’s transformation will continue to be anchored on resilient fundamentals, disciplined execution and a keen focus on sustainability,” stated Genting Singapore.
The firm’s board had approved a total investment of about SDG6.80 billion to upgrade and expand the property, as part of what is known as RWS 2.0.
In November last year the company broke ground for a new waterfront development at the complex. The firm expects that expansion to be completed in 2030.
“RWS 2.0 developments … are progressing well with continued emphasis on upholding a seamless guest experience across the resort,” noted the company.
In an October memo, Moody’s Ratings projected Genting Singapore’s 2025 full-year EBITDA to reach SGD1.1 billion, “broadly flat” versus 2024, due to disruptions relating to the revamp work at Resorts World Sentosa.
The casino operator announced a fortnight ago the appointment of veteran casino executive Chen Si as chief operating officer at its business unit Resorts World at Sentosa Pte Ltd. The appointment takes effect from December 1.
