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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
Published Tue, Feb 24, 2015 · 09:50 PM
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.
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