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Genting Singapore Q1 profit slumps 73% to S$63m

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Genting Singapore's net profit fell 73 per cent to S$62.7 million for the first quarter ended March 2015, from S$228.5 million a year ago.

GENTING Singapore's net profit fell 73 per cent to S$62.7 million for the first quarter ended March 2015, from S$228.5 million a year ago.

Including S$29 million apportioned to holders of perpetual securities, net profit fell 64 per cent to S$91.7 million.

Revenue slipped 23 per cent to S$639.2 million from S$828.8 million.

Earnings per share fell to 0.52 Singapore cent from 1.87 Singapore cents. No dividend was recommended for the period.

"The Asian gaming industry is adjusting to a new norm. The premium gaming market continued to be weak," said the firm in a statement.

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