Good morning. Good news across the board (except Macau) in quarterly results, with Genting Singapore seeing a 123 percent yearly increase in profit, as Resorts World Sentosa registered $275.9 million in gross gaming revenue in 3Q22, led by ‘affluent’ customers – a segment it plans to focus more on. But in Macau restrictions continue to hinder, with Galaxy registering a 75 percent yearly drop in GGR in 3Q22, to just $117 million.
What you need to know
- Galaxy Entertainment Group records a 75% yearly drop in GGR for 3Q22, comprised almost solely of mass gaming, despite the visitation drop.
- Genting Singapore nets strong results in 3Q22, with net profit at $98.06 million, up 123 percent annually, RWS expansion ‘proceeding expeditiously’.
On the radar
- Paradise Co sees $29.15mln in profit for 3Q22.
- Kangwon Land registers 3Q22 profit of $55mln.
- Grand Korea Leisure records $3.6mln profit for 3Q22.
- MGM Resorts issues $750mln loan to MGM China
AGB Intelligence
SINGAPORE
Genting Singapore shining with $98 million in profit for 3Q22
Genting Singapore continues on its rebound, registering a third quarter profit of $98 million, as it focuses on more ‘affluent’ customers. The group’s Resorts World Sentosa brought in $275.9 million in gross gaming revenue during the quarter and say they are ‘confident and excited’ about the growth opportunities in the market as they continue their $3.25 billion expansion project.
Industry Updates
- EvenBet launches ‘Teen Patti’ on its turnkey platform.
- MGM Resorts unveils Bellagio Fountains Grandstands for F1 LV 2023.
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