Lower VIP volume, bad debt chip away at Genting's bottom line
Singapore
SOURED gambling debt and dwindling volume of Chinese high rollers chipped away at Genting Singapore's final quarter results with the casino giant swinging into the red for the final quarter and posting its smallest annual profit in five years.
South-east Asia's gaming stalwart suffered a net loss attributable to shareholders of S$7.75 million for the final quarter ended December 2015, against a profit of S$89.2 million a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance