• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 15 June 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

Marine attraction Singapore Oceanarium to open at Resorts World Sentosa on 23 July

Marine attraction Singapore Oceanarium to open at Resorts World Sentosa on 23 July

Mon 26 May 2025 at 14:40
Singapore’s Changi Airport now Asia’s busiest airport as Hong Kong falls further behind

Singapore’s Changi Airport Group sees profit double in 2024 on all-time passenger movements record

Fri 23 May 2025 at 06:10
10 Years Ago: Rearing for a comeback

Genting Singapore continues to show weakness in 1Q25 on hotel room renovation work, weak macro environment

Thu 15 May 2025 at 05:08
Two to Tango

Tan Hee Teck to retire as CEO of Genting Singapore and Resorts World Sentosa

Wed 14 May 2025 at 18:14
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 – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo
568Win

Related Posts

Greg Hawkins named Acting COO of Bloomberry and Solaire following Arasi departure

Greg Hawkins takes on permanent role as President and COO of Solaire parent Bloomberry Resorts Corp

by Ben Blaschke
Fri 13 Jun 2025 at 09:31

Bloomberry Resorts Corp, operator of the Philippines’ leading integrated resort brand Solaire, has confirmed the appointment of Greg Hawkins as Director, President and Chief Operating Officer at a board meeting held earlier this week. Hawkins had previously served as Acting...

Inside Thai IRs

Sands China completes full redemption of US$1.63 billion in notes due 2025

by Newsdesk
Fri 13 Jun 2025 at 05:57

Sands China Ltd, the Macau-facing subsidiary of Las Vegas Sands Corp, has completed full redemption of US$1.63 billion in outstanding notes due 2025. In a filing, the company confirmed that the notes were redeemed in full on 11 June and...

NSW state government moves to ban political donations from any clubs offering gambling

Report finds regulation of NSW gaming machines ineffective in supporting harm minimization outcomes

by Ben Blaschke
Fri 13 Jun 2025 at 05:45

A report by the NSW Auditor-General into the regulation of gaming machines has found that efforts by the state’s regulatory bodies to oversee the industry are not supporting harm minimization outcomes effectively. The detailed 47-page report, published Thursday, listed a...

Macau International Airport to expand into Taipa Ferry Terminal as passenger numbers keep rising

Macau to open up aviation market to more airlines in February 2026

by Pierce Chan
Fri 13 Jun 2025 at 04:32

The Macau Legislative Assembly (AL) has completed discussions on a new aviation bill, which is expected to take effect in February 2026. At that time, Macau’s aviation market will become fully open and the exclusive operating system no longer in...



IAG

© 2005-2024
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

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語