Genting S'pore Q1 profit almost doubles

INTEGRATED resort operator Genting Singapore posted a near doubling in first-quarter earnings, thanks to the strong performance of its gaming business. For the three months ended March 31, net profit attributable to shareholders surged 97 per cent to $228.5 million, from $115.9 million a year ago. This translated to earnings per share of 1.87 cents, up from 0.95 cent a year ago.

The group, which operates Resorts World Sentosa, reported a 24 per cent rise in revenue to $828.8 million, with the gaming business contributing $671.9 million.

"Compared to the first quarter of 2013, the gaming business registered a strong year-on-year revenue growth of 29 per cent, on the back of higher rolling volume and win percentage in the premium player business," said Genting Singapore.