Genting Singapore Q2 profit climbs 24%, helped by other operating income

Singapore

GAMING stalwart Genting Singapore reported a 24 per cent rise year-on-year in net profit to S$177.62 million for the second quarter ended June 30, lifted partly by other operating income and savings from having redeemed its S$2.3 billion 5.125 per cent perpetual subordinated capital securities.

Revenue slid 6 per cent to S$560.3 million while earnings per share clocked 1.47 Singapore cents, up from 1.19 cents a year ago.

In the gaming segment, luck eluded the group, although the VIP segment showed signs of growth. Gaming revenue at integrated resort Resorts World Sentosa (RWS) fell 8 per cent to S$406.15 million, while non-gaming revenue edged up one per cent to S$153.53 million. Adjusted Ebitda (earnings before interest, tax, depreciat…