Genting Q4 net down as pool of VIP gamblers shrinks
But in the mass market slot, where margins are better and less volatile, the tables are turning in its favour
Singapore
CASINO stalwart Genting Singapore's game sheet for the final quarter disappointed with net profit falling 36 per cent to S$89.2 million, no thanks to low luck factor and shrinking pool of VIP gamblers.
Including S$29.7 million apportioned to holders of perpetual capital securities, net profit fell 30 per cent to S$118.9 million. Revenue slipped 8 per cent to S$637.9 million from S$692.9 million.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Stocks closes up another weekly gain ahead of inflation data
Europe: Stocks close at record high on earnings, rate cut optimism
Oil falls on prospect of higher-for-longer US rates, stronger dollar
Frasers Property H1 profit slides 81% on property value losses, lower residential contributions
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
Barclays cuts jobs in energy transition team it only just built