Genting Singapore slides to one-year low as quarterly earnings weaken

A 6.6 per cent slide took Genting Singapore to S$0.570 at the midday break on Nov 13, marking a one-year low. The decline followed the resort operator’s announcement that third-quarter net profit had fallen 42.2 per cent.

At 9.01 am, the stock was trading at S$0.58, down 5.2 per cent. By midday, turnover totalled S$25.4 million, with 43.8 million shares traded.

Net profit for the quarter ended Sep 30 came to S$54.7 million, against S$94.6 million a year earlier. Quarterly revenue was S$566.1 million, a decline of 12.9 per cent, and adjusted Ebitda dropped 27.4 per cent to S$161.8 million.

Genting Singapore linked the earnings weakness to reduced premium gaming activity. The group also said September’s unfavourable rolling win rate weighed on revenue. It estimated that adjusted Ebitda would have been about S$36 million higher under a normalised rolling hold calculation.

At Resorts World Sentosa, gaming brought in S$315 million, down from S$402.3 million. Non-gaming revenue reached S$250.9 million, compared with S$247.3 million, despite a reduction in available hotel rooms.

The group expects refurbishment of hotels, gaming facilities and guest spaces to restrict operating capacity through 2027. It said its priorities for the final quarter of 2026 include attracting year-end travellers and festive visitors while proceeding with the resort’s renewal.