• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 31 July 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
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
No Result
View All Result
IAG
No Result
View All Result

Genting Singapore sees RWS gaming revenues climb 45% year-on-year to US$255 million in Q1

Ben Blaschke by Ben Blaschke
Fri 12 May 2023 at 19:06
2021: Japan IR – Crunch time part 2
37
SHARES
921
VIEWS
Print Friendly, PDF & Email

Genting Singapore has reported gross gaming revenues of SG$339.9 million (US$255 million) at its Singapore IR, Resorts World Sentosa (RWS), in the three months to 31 March 2023, up 45% over the same period last year and only down on the December 2022 quarter due to bad luck.

According to information published late Friday, the 1Q23 revenue result was down 9% on the December quarter but would have been 12% higher on a hold-normalized basis. RWS “continued to benefit from the ongoing recovery of regional travel and gaming demand,” the company said.

With non-gaming contributing SG$144.4 million (US$108 million), consolidated revenue for the period was SG$484.5 million (US$363 million), up 54% year-on-year but down 11% sequentially.

Adjusted EBITDA was 54% higher year-on-year at SG$191.7 million (US$144 million) with net profit more than tripling from SG$40.4 million (US$30.3 million) in 1Q22 to SG$129.2 million (US$96.8 million).

Despite the improvement, Genting Singapore said its results were still impacted by post-COVID travel impediments.

“The recovery of [the] non-gaming business was constrained by lagging overseas visitor arrivals from our traditional visitor source markets,” the company explained. “Airline capacity constraints have continued to cap incoming mass leisure tourist traffic. Elevated airfares during the festive seasons have also impacted visitor volume for the attractions, resulting in a 15% dip in the overall non-gaming revenue from the previous quarter.

“Looking ahead, as we continue with RWS 2.0 strategy, the Group is committed to enhancing RWS’ brand identity as a premium luxury destination that appeals to trendy and affluent customers.

“To be carried out in two major stages, we will be investing to enhance all our product offerings. The initial stage (RWS 1.5) involves re-inventing and innovating our facilities to upscale RWS’ destination appeal and achieve better demand from our target markets.”

Genting Singapore said it has now soft-launched the 389-room former Festive Hotel under a new Hotel Ora brand, taking the property’s hotel inventory to almost 1,600 keys, with Hotel Michael and Crockfords Tower next in line for renovations.

RWS’ central cluster, The Forum at RWS, will undergo an extensive transformation of its own from this month with the goal of elevating it into a “vibrant and sophisticated central lifestyle connector.”

“Its gross floor area will more than double to around 20,000 square-meters over three levels, providing a wide variety of upscale restaurants, specialty shops and iconic concept stores in a biophilic environment,” the company said.

RelatedPosts

Inside Asian Gaming names MGM as Venue Sponsor for 2023 Asian Gaming Power 50 Black Tie Gala Dinner

MGM Macau launches new villas, high-end Alpha Club gaming space in response to evolving customer base

Thu 31 Jul 2025 at 06:38
The show must go on

MGM China reports all-time record Adjusted EBITDA of HK$2.5 billion, market share hits 16.6%

Thu 31 Jul 2025 at 05:11
PAGCOR to slash license fees charged to Philippine IR operators on online gaming GGR to new low of 25%

PAGCOR’s net income up 64% to US$188 million in first six months of 2025

Wed 30 Jul 2025 at 17:05
FBM launches eight new slot themes into Mexican casino market

FBM launches eight new slot themes into Mexican casino market

Wed 30 Jul 2025 at 15:59
Load More
Tags: casinoGamingGenting SingaporeResorts World SentosarevenueSingapore
Share15Share3
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 – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
Tecnet
NWR

Related Posts

Macau’s DICJ says closure of satellite casino Grandview complete

Macau’s DICJ says closure of satellite casino Grandview complete

by Pierce Chan
Thu 31 Jul 2025 at 15:22

Macau’s gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ) confirmed Thursday that satellite casino Grandview had shuttered its doors and the property cleared in accordance with the law. SJM, which announced in June that it would close all of...

IAG names Grand Lisboa Palace Resort Macau as venue and SJM Resorts S.A. as Venue Sponsor for 2025 Power 50 Black Tie Gala Dinner

IAG names Grand Lisboa Palace Resort Macau as venue and SJM Resorts S.A. as Venue Sponsor for 2025 Power 50 Black Tie Gala Dinner

by Newsdesk
Thu 31 Jul 2025 at 14:50

Leading B2B gaming industry media brand Inside Asian Gaming is thrilled to announce Grand Lisboa Palace Resort Macau, in the Macau entertainment hub of Cotai, as the venue for the 18th Asian Gaming Power 50 Black Tie Gala Dinner on Friday 7...

Invitational NUSTAR Golf Tournament 2025 attracts 120 players

Invitational NUSTAR Golf Tournament 2025 attracts 120 players

by Newsdesk
Thu 31 Jul 2025 at 11:37

Cebu’s NUSTAR Resort & Casino has hosted its NUSTAR Golf Tournament 2025, attracting more than 120 players at the scenic Alta Vista Golf and Country Club on 25 July 25 for a full day of competitive play. The tournament gathered...

IAG to launch weekly “The IAG Live Streaming Show” starting this Friday 25 July

Don’t miss Episode 2 of The IAG Live Streaming Show this Friday at 10am

by Newsdesk
Thu 31 Jul 2025 at 06:43

Inside Asian Gaming’s new weekly production, The IAG Live Streaming Show, will return this Friday 1 August at 10am Macau time. Episode 1 of The IAG Live Streaming Show was broadcast last Friday 25 July 2025, representing an evolution of “On the...

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

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
  • 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