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Hot stock: Genting Singapore shares down 6.9% in morning trade

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Shares of Genting Singapore traded down 6.9 per cent or seven Singapore cents to S$0.945 as at 10.55am on Friday, topping the list of actively traded counters for the morning.

SHARES of Genting Singapore traded down 6.9 per cent or seven Singapore cents to S$0.945 as at 10.55am on Friday, topping the list of actively traded counters for the morning.

On Thursday, the company reported first-quarter net profit that was 73 per cent lower at S$62.7 million, on the back of lower revenue.

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

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

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