SINGAPORE (THE BUSINESS TIMES) - Genting Singapore, the operator of Resorts World Sentosa, has posted in its first-quarter business overview a 26 per cent drop in net profit to $34.5 million for its first quarter ended March, while revenue declined 32 per cent to $277.9 million.
This was due to the Covid-19 impact which continued to weigh on its operational performance, it said on Friday (May 7), adding that its earnings decline would have been more pronounced if not for the support measures initiated by the Singapore government.
Under revenue, gaming revenue slid 19 per cent to $216.9 million, while non-gaming revenue plunged 56 per cent to $60.7 million. Adjusted earnings before interest, taxes, depreciation, and amortisation (Ebitda) for its Singapore integrated resort (IR) fell 15 per cent to $135.1 million.