Genting Singapore H2 profit falls 30% to S$155.6 million
Revenue is at S$1.24 billion for the period, up 5% from S$1.17 billion previously
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[SINGAPORE] Genting Singapore on Tuesday (Feb 24) posted a 30 per cent decline in its net profit for the second half of its financial year to S$155.6 million, from S$222 million in the same year-ago period.
Revenue, however, stood at S$1.24 billion for the period, up 5 per cent from S$1.17 billion in H2 FY2024.
Gaming revenue for H2 FY2025 was up 2 per cent at S$764.1 million from S$745.6 million previously.
Non-gaming revenue jumped 10 per cent in H2 FY2025 to S$473.1 million, from S$428.3 million in the corresponding year-ago period.
This increase came on the back of newly refreshed attractions and hospitality offerings which enhanced guest engagement and lifted overall resort activity, said the group.
A company statement indicated that the board is proposing a final dividend of S$0.02 per share, tax-exempt, subject to approval at the upcoming annual general meeting.
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With the interim dividend of S$0.02 per share, total dividends for FY2025 amount to S$0.04 per share, which is the same as in FY2024.
Earnings per share for FY2025 fell to S$0.0323, from S$0.0479 in the previous fiscal year.
For the six months ended Dec 31, 2025, Genting Singapore’s earnings before interest, tax, depreciation and amortisation (Ebitda) fell by 1 per cent to S$373 million, from S$376.6 million in the same period a year prior.
The group said that during FY2025, its cash flow and balance sheet were affected by ongoing capital expenditure for its RWS 2.0 transformation.
“The refresh of existing assets and construction progress under its expansion plans resulted in significant cash outflows, with corresponding increase in property, plant and equipment as costs relating to assets under development were capitalised,” noted the Tuesday bourse filing.
Operating costs were also elevated due to a combination of one-off and recurring factors, Genting Singapore said.
“One-off expenses included ramp-up costs associated with new attractions and operating costs incurred during the temporary closure of SEA Aquarium to facilitate the opening of Singapore Oceanarium, and higher provision for doubtful debt recognised in the fourth quarter.”
Recurring expenses relating to the company’s modernisation programme, including infrastructure refresh and system enhancements, were incurred as well, the company added.
In contrast, Marina Bay Sands’ Q4 earnings exceeded S$1 billion, with its adjusted property Ebitda surging 50.1 per cent to a new high of US$806 million – or S$1.02 billion – for the three months ended Dec 31, 2025.
The Business Times previously reported that Las Vegas Sands chairman and chief executive officer Rob Goldstein said that it was “the greatest quarter in the history of casino hotels”, on a Jan 28 earnings call.
He noted in particular that mass gaming in Singapore crossed US$951 million in Q4, up 27 per cent year on year.
Shares of Genting Singapore ended Tuesday flat at S$0.79.
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