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Genting Singapore runs out of luck with Q3 profit halved
Net profit plunges to S$97.39m as game revenue falls and win rate is lower; concerns of more headwinds ahead
Published Tue, Nov 11, 2014 · 09:50 PM
Singapore
GAMING titan Genting Singapore splayed its chips on the table on Tuesday and revealed markedly weak third-quarter numbers, hammered by poor VIP play, low win rate and concerns that there may be more headwinds ahead.
Quarterly net profit attributable to ordinary shareholders tumbled 50 per cent to S$97.39 million from S$192.98 million a year ago as revenue plunged 17 per cent to S$644.77 million and cost of sales fell just 7 per cent to S$426.9 million.
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