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Genting Q4 net down as pool of VIP gamblers shrinks

But in the mass market slot, where margins are better and less volatile, the tables are turning in its favour

Anita Gabriel

Anita Gabriel

Published Tue, Feb 24, 2015 · 09:50 PM
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Singapore

CASINO stalwart Genting Singapore's game sheet for the final quarter disappointed with net profit falling 36 per cent to S$89.2 million, no thanks to low luck factor and shrinking pool of VIP gamblers.

Including S$29.7 million apportioned to holders of perpetual capital securities, net profit fell 30 per cent to S$118.9 million. Revenue slipped 8 per cent to S$637.9 million from S$692.9 million.

Genting Singapore's core earnings, or adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) fell 24 per cent…

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