The Waterfront Development in Resorts World Sentosa (RWS) has received the government’s provisional permission, and construction is set to commence in late 2024, notes in the annual report of Genting Singapore.

Singapore’s integrated resort, Resorts World Sentosa (RWS), has announced that the Hard Rock Hotel Singapore will no longer operate under the Hard Rock brand name as of March 2nd.

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.

Genting Singapore, which is embarking on the first major expansion of its resort since opening, is putting sustainable development at the heart of those plans, in part reflecting the demands of the post-Covid traveler.

PAGCOR’s Chairman and CEO, Alejandro H. Tengco, says that he’s most excited about the growth in the eGaming sector in the Philippines, with expectations that gross gaming revenue generated from the segment could even top that of its land-based casinos. The official also laid out the sale plans for Casino Filipino, saying they haven’t yet settled on a final price.

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 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).

The head of casino operator Genting Singapore Ltd, Lim Kok Thay, notes that the firm is expecting “continued recovery of travel and tourism”, mentioning that the “recovery pace may be inconsistent due to international flight capacities and unexpected border measures. Further, economic uncertainties and inflationary pressure as well as manpower challenges emerge as areas of concern”.

Singapore is back, Las Vegas Sands Chairman and CEO Rob Goldstein said after reporting a strong recovery across all business segments in 1Q22, although some analysts urge caution due to the lack of Chinese gamblers and increasing regional competition.

Genting Singapore plans to broaden its player base to focus on those who play casually for entertainment, Executive Chairman Tan Sri Lim Kok Thay told shareholders.