Good morning. The headline was stable revenue, but Genting Singapore’s bottom line told a different story. First-half net profit fell 34 percent to $122 million, pressured by higher depreciation, lower interest income and asset refresh works. RWS recorded modest gains across its non-gaming businesses and a stronger second quarter, even as softer tourism demand and cautious consumer spending clouded the outlook. Over in Macau, softer gaming at City of Dreams and Studio City weighed on Melco’s quarterly results. Yet construction is also central to its recovery plan: REM Hotel has entered soft operations ahead of an October grand opening, alongside a retail redesign expected to disrupt the property until mid-2027.
What you need to know
- Genting Singapore reported stable 1H26 revenue, but net profit fell 34% to $122 million and gaming revenue declined 4% to $627 million.
- Melco’s 2Q26 revenue fell 6% and property EBITDA dropped 20%, led by weaker gaming performance at City of Dreams Macau operations.
- Melco is preparing REM Hotel’s official opening after Golden Week while carrying out a major overhaul of City of Dreams’ retail podium.
On the radar
- Vanuatu diplomat says a trusted individual misused consulate for gambling.
- Macau gaming tax revenue rises 9.3% to $7.22B through July.
- W Macau appoints Sammy King as general manager.
AGB Intelligence
SINGAPORE
Genting Singapore 1H26 profit falls 34% despite stable revenue
Genting Singapore’s first-half profit fell 34 percent despite stable revenue, as higher depreciation, lower interest income and asset refresh works weighed on the bottom line. Gaming revenue declined 4 percent, while non-gaming revenue increased 6 percent with support from refreshed attractions and hospitality offerings. Resorts World Sentosa posted stronger adjusted EBITDA in the second quarter. The company maintained its interim dividend and said RWS 2.0 remained on track for completion in 2030.
Industry Updates
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AGBrief Editorial
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