Genting Singapore posts 55% fall in Q1 earnings; remains gloomy for rest of year

Singapore

GENTING Singapore said its earnings more than halved for the first quarter, as the global novel coronavirus pandemic took its toll on tourism. It is pessimistic for the rest of the year, foreseeing that any recovery may be long-drawn.

The integrated resort operator posted adjusted earnings before interest, tax, depreciation and amortisation (adjusted Ebitda) of S$146.9 million for the three months ended March 31, a 55 per cent decrease year on year.