Asian casino operator Genting Singapore has released its second-quarter financial results showing that higher revenues along with lower sales costs helped to push its net profit for the period up by over 800% year-on-year to $127 million.

Genting Singapore is a subsidiary of Malaysian conglomerate Genting Group and is responsible for the giant Resorts World Sentosa integrated casino resort in Singapore. For the three months to the end of June it revealed that its gross profit had swelled by in excess of 196% year-on-year to reach $202.1 million while its adjusted earnings before interest, tax, depreciation and amortization rose by some 152% to $215.3 million.

In terms of second-quarter revenues, Genting Singapore declared that results had experienced a 24% swell year-on-year to $438.4 million while sales costs fell by 17% to $236.3 million.

“All major businesses registered stronger earnings before interest, tax, depreciation and amortization on the back of improved operating margins as we continue to drive strategies to focus on better margin business and maintain lower impairment of receivables,” read a Wednesday statement from the Singapore-listed operator.

For its Resorts World Sentosa development, Genting Singapore explained that second-quarter gaming revenues had improved by 33% year-on-year to $325.3 million while it achieved $112.3 million in non-gaming takings, which represented an advance of about 3%.

“Resorts World Sentosa continues to be the leader in Singapore’s tourism industry [and accounted] for 36% of international visitor arrivals to Singapore in the first four months of 2017,” read the statement from Genting Singapore. “Underpinned by steady regional markets, visitorship to Resorts World Sentosa remained strong. Our integrated resort hotels outperformed industry-wide matrices with over 95% occupancy while Genting Hotel Jurong achieved 98% occupancy.”

In terms of its half-year financial results, Genting Singapore explained that net profit had experienced a 548% boost year-on-year to $281.6 million as revenues increased by 9% to $869.9 million.

Adding to the good news, the firm declared that a 103% swell year-on-year in its six-month gross profit to $393.9 million alongside a 22% diminution in sales costs to $475.9 million had pushed its half-year adjusted earnings before interest, tax, depreciation and amortization up by 85% to $423.6 million.

“The group has achieved revenue growth for three sequential quarters,” read the statement from Genting Singapore. “In the gaming business segment, we delivered steady earnings as the VIP business remains stable. Following the execution of a more measured credit policy, the impairment of receivables has been reduced significantly. With this as a backdrop, Resorts World Sentosa delivered an excellent set of results for this quarter.”

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