• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 17 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Strong 2H recovery helps Genting Singapore stay profitable in 2020, reiterates commitment to Japan expansion

Ben Blaschke by Ben Blaschke
Tue 9 Feb 2021 at 19:03
Bad luck drives Genting Singapore results down in 2Q18

Resorts World Sentosa in Singapore.

79
SHARES
2k
VIEWS
Print Friendly, PDF & Email

Genting Singapore, operator of Resorts World Sentosa (RWS), has reported a 90% decline in profit to SG$69.2 million (US$52.0 million) for FY20, heavily impacted by the three-month closure in operations between April and June and ongoing limitations to global travel.

Releasing its financial results late Tuesday, Genting Singapore revealed a 64% fall in Adjusted EBITDA to SG$427.0 million (US$321.3 million) on a 57% decline in revenue to SG$1.06 billion (US$797.7 million), of which gaming contributed SG$700.8 million (US$527.3 million) and non-gaming SG$299.4 million (US$225.3 million).

There was, however, notable improvement in the second half of the year with total revenue of SG$615.5 million (US$463.1 million) and Adjusted EBITDA of SG$360.4 million (US$271.2 million) in 2H20 versus SG$448.2 million (US$337.2 million) and SG$66.7 million (US$50.2 million) respectively in 1H. Net profit for the second half of the year was down only 41%, it added, compared with the 90% full year decline.

“As Singapore moved into Phase 3 of reopening of the economy at the end of 2020, RWS began operating the resort facilities with further relaxation to the Phase 2’s limited operating capacity,” the company explained.

“Through these difficult times, we have re-imagined and innovated our resort offerings, and created fun and exciting activities across the resort. For example, to boost local visitorship, we introduced specially curated staycation packages alongside unique dining experiences … we also rolled out a series of exciting events coinciding with the year-end season.”

Genting Singapore said it remains cautious about the year ahead given the likelihood that international travel will remain limited throughout, however it also reiterated its commitment to key ongoing development projects.

They include the SG$4.5 million (US$3.3 billion) expansion of RWS and its pursuit of an IR bid in Yokohama Japan. Having shown some hesitation at the Japan opportunity in its previous results announcement, Genting Singapore appears much more committal this time around, stating, “We are encouraged by the steps taken by the City of Yokohama to launch a formal bidding process for the development of an Integrated Resort (IR) which will transform the City to become a gateway to Japan for inbound visitors and contribute towards Japan’s tourism growth strategy.

“We remain committed to our vision of creating a world-class IR destination that is uniquely positioned and sustainable, and anchored on strong local partnerships. We will continue to engage the relevant stakeholders in this process.”

RelatedPosts

VIDEO: IAG chats with StarDream Cruises President Michael G. Johansen

VIDEO: IAG chats with StarDream Cruises President Michael G. Johansen

Wed 10 Sep 2025 at 22:22
Editorial – Beware the Lion King

Macau’s Galaxy Entertainment Group opens new office in Singapore

Tue 2 Sep 2025 at 05:05
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
Ministry says foreign workers comprised majority of 2,000 laid-off RWS workers

JP Morgan highlights “strikingly large” gap between Singapore’s two IRs as Resorts World Sentosa falls to all-time low market share

Sat 9 Aug 2025 at 10:04
Load More
Tags: financial resultsGenting SingaporeResorts World SentosaSingapore
Share32Share6
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Melco’s Tokyo office raided by Public Prosecutor as Akimoto scandal deepens

Melco prices new notes offering at US$500 million

by Newsdesk
Wed 17 Sep 2025 at 06:16

Melco Resorts & Entertainment subsidiary Melco Resorts Finance Limited has priced its international offering of senior notes at US$500 million aggregate principal amount of 6.500% senior notes due 2033. The proceeds will be used to redeem all outstanding 5.250% senior...

Tinian senator puts forward bill to offer online gaming licenses

Chinese nationals launch legal action over alleged fraudulent use of investment funds assigned for Tinian casino projects

by Newsdesk
Wed 17 Sep 2025 at 05:34

A group of more than 20 Chinese nationals have filed a complaint with the Supreme Court of the State of New York alleging misrepresentation of investment opportunities connected to development projects in the Northern Mariana Islands (notably Tinian), the diversion...

The changing face of Macau

Melco to launch private hospital at Macau’s Studio City as part of 10-year non-gaming concession commitment

by Ben Blaschke
Wed 17 Sep 2025 at 05:06

Melco Resorts & Entertainment has unveiled plans to house a private hospital focused on imaging and diagnostic medical services at its Studio City integrated resort in Macau – part of the company’s commitment to invest in non-gaming attractions. Parent firm...

The 2023 Asian Gaming Power 50: Ones to watch

Hong Kong Stock Exchange deems Andrew Lo unsuitable to be director of LET Group or Summit Ascent due to attempted Tigre de Cristal sale

by Ben Blaschke
Tue 16 Sep 2025 at 15:14

The Stock Exchange of Hong Kong Ltd has imposed a Director Unsuitability Statement and a censure against Andrew Lo – the majority shareholder, Executive Director and Chairman of LET Group Holdings and Summit Ascent Holdings – deeming him unsuitable to...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語