Genting Singapore has announced a 25 percent increase in revenue for the first half of the year, reaching SG$1.35 billion and with net profit rising by 29 percent to SG$356.91 million.

Genting Singapore, the operator of Singapore’s Resorts World Sentosa (RWS), is expected to see a significant decline in quarterly EBITDA for 2Q24, notes Morgan Stanley.

Genting Singapore experienced 'robust growth' in the first quarter of 2024, delivering revenue of $580 million and adjusted EBITDA of $273 million.

Although maintaining a ‘cautiously optimistic’ outlook for Genting Singapore in 2024, Maybank cuts its EBITDA and core net profit estimates by 6 percent and 11-12 percent, respectively.

Genting Singapore has announced a net profit of SG$611.6 million ($456 million) for the fiscal year 2023, which concluded on December 31st, marking an 80 percent increase year-over-year.

The first half of the year has proved to be a happy merry-go-round for every gaming operator in the block, with Genting Singapore’s adjusted EBITDA and revenue skyrocketing in the first half of 2023.

Genting Singapore has announced a strong first half of 2023, with adjusted EBITDA rising 68 percent to SG$452.5 million ($336 million), as consolidated revenue rose by 63 percent yearly to SG$1.1 billion ($817 million).

Genting Singapore has seen its rating upgraded from “outperform” to “buy” by CLSA, after Las Vegas Sands released its results for the second quarter of this year.

After having a meeting with Genting Singapore management, analyst Samuel Yin Shao Yang at Maybank cuts its core net profit forecasts by 12 percent and EBITDA forecast by 14 percent for 2023.

Integrated resort operator Genting Singapore reported a 220 percent increase in its net profit after taxation to SGD129 million ($97 million) for the first quarter ended Mar 31, 2023, from SGD40.4 million ($30.3 million) in the same period one year ago.