Genting Singapore H1 profit falls 34% to S$234.7 million on weaker gaming, room revenue

[SINGAPORE] Resort and casino operator Genting Singapore reported a 34 per cent drop in profit for the first half of the year to S$234.7 million.

Revenue declined by 10 per cent to S$1.2 billion, from S$1.4 billion in the previous corresponding period, Genting said in a regulatory filing on Thursday (Aug 7).

According to its financial statement, the revenue decline was partly driven by a 12.3 per cent drop in gaming revenue to S$839.4 million, and a 19 per cent fall in room revenue to S$98.4 million.

Earnings per share stood at S$0.0194 for the first six months, down S$0.0102 from the previous year.

An interim dividend of S$0.02 per share was declared for the half year, unchanged from the year before. The dividend will be paid on Sep 17.  

Commenting on its performance, Genting said that while the results for the first quarter of 2025 moderated year on year due to the absence of visa-driven demand seen in 2024, the group recorded a 3 per cent revenue increase in the second quarter – to S$588.3 million.

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This was supported by higher VIP rolling volume and win rates, as well as a boost in the number of visitors to Universal Studios Singapore, following the successful launch of Illumination’s Minion Land in February 2025.

Adjusted Ebitda (earnings before interest, taxes, depreciation and amortisation) for Q2 stood at S$187.9 million, down 7 per cent from the previous year.

The decline was attributed to higher operating costs and the temporary closure of the Sea Aquarium in May and June to facilitate the opening of the Singapore Oceanarium.

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The group added that it has been navigating its transformation phase with “steady growth” in Q2, despite the inevitable disruptions linked to the Resorts World Sentosa (RWS) 2.0 redevelopment.

Nevertheless, it noted that RWS has made significant progress on key redevelopment and enhancement initiatives – including extensive property renovations, a strategic refresh of assets, and infrastructure upgrades that are aimed at positioning the resort as a premium lifestyle and tourism destination.

Shares of Genting Singapore closed Thursday at S$0.755, up 0.7 per cent or S$0.005, before the results were released.