Genting Singapore boasts Q2 turnaround

Singapore

BOLSTERED by stronger contributions from its gaming business, casino operator Genting Singapore achieved a second-quarter net profit attributable to equity-holders of S$143.32 million, a turnaround from a loss of S$10.54 million a year ago.

As was the case for the year-ago quarter, this was after setting aside S$29.39 million for holders of perpetual capital securities. Revenue for the three months ended June 30, 2017, was 24 per cent higher year-on-year at S$596.08 million on the back of higher rolling win percentage in the premium player business. Meanwhile, cost of sales were 17 per cent lower at S$321.31 million. As such, operating profit shot up from S$47.19 million to S$225.61 million.