Genting Singapore Q3 net profit rises 19% to S$94.6 million amid higher VIP volume, win rate

[SINGAPORE] Genting Singapore posted a 19 per cent year-on-year increase in net profit to S$94.6 million for the third quarter ended Sep 30, with improved VIP rolling volume and win rate contributing a significant rise to its revenue.

Revenue stood at S$649.8 million, up 16 per cent from the S$561.9 million posted for the year-ago period, said the group in a quarterly business overview filed on the Singapore Exchange on Thursday (Nov 6).

Gaming revenue rose 22 per cent to 402.3 million in Q3, from S$330 million previously; Genting Singapore attributed this to improved VIP rolling volume and win rate.

Non-gaming revenue, meanwhile, improved 7 per cent year on year to S$247.3 million from S$231.8 million.

Genting Singapore shares were unchanged at S$0.73 on Thursday, before the overview was released.