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Genting Singapore Q1 profit tumbles 73% as revenue slips
Bad debt provisions up 30%; premium gaming market continues to be weak
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Published Thu, May 14, 2015 · 09:50 PM
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Singapore
GENTING Singapore's first-quarter 2015 scorecard came in expectedly weak with net profit plunging 73 per cent to S$62.7 million from a year ago, a sign that the casino giant's biggest banes - waning Chinese high rollers, low luck factor and rising bad debts - could continue to be a drag this year.
Including S$29 million apportioned to holders of perpetual securities, net profit fell 64 per cent to S$91.7 million.
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