Genting Singapore, operator of Resorts World Sentosa (RWS), has cautioned that near-term performance may remain volatile while emphasizing its long-term resilience strategy, as the integrated resort operator responded to shareholder queries ahead of its Annual General Meeting.
In its written responses released on Friday, the company said short-term fluctuations in gaming results are expected, citing inherent volatility in hold percentage and customer mix. ‘Gaming performance can vary between periods due to normal fluctuations in hold percentage and customer mix,’ the group said, adding that comparisons across reporting periods ‘should be interpreted within this context.’
It added that while near-term results may fluctuate, ongoing investments in asset enhancement, operational discipline, and customer experience are aimed at supporting ‘longer term performance and resilience.’
The comments come as Genting Singapore reported revenue of SG$2.45 billion ($1.81 billion) for the financial year ended December 31st, 2025, down from SG$2.53 billion ($1.87 billion) a year earlier, while net profit fell to around SG$390 million ($289 million) from SG$578.9 million ($428 million) in 2024. Gaming revenue declined by approximately SG$100 million ($74 million), or about 6 percent year-on-year.
The issue was raised by shareholders, who noted that this contrasted with the strong growth reported by Singapore’s competing casino, Marina Bay Sands, which posted gaming revenue growth of 52 percent in the fourth quarter of 2025 and achieved $1.2 billion in casino revenue in 4Q2025 alone.
Confident ahead of license assessment
For the coming period, Genting Singapore highlighted its readiness for the next casino license assessment cycle, following a two-year renewal granted in February 2025. The shorter renewal period had drawn scrutiny from investors, but the company said it reflected the impact of pandemic-related disruptions during the review period.
Since then, the group has progressed its Resorts World Sentosa 2.0 transformation plan in alignment with Singapore’s tourism strategy, while maintaining close engagement with regulators. The board said it ‘continues to oversee Management’s execution of improvement initiatives and believes the Group is well positioned for the next assessment cycle.’
[ Read more: RWS 2.0 set to reshape demand profile at Resorts World Sentosa: Chairman
At the same time, Genting said it is closely monitoring geopolitical risks, particularly the evolving conflict in the Middle East, which could have broader implications for its operating environment.
‘The Group continues to actively monitor geopolitical developments in the Middle East and assess potential implications for its business and operating environment,’ the company said, noting that potential risks include changes in international travel flows, cost conditions, and overall macroeconomic sentiment.
However, Genting cautioned that it is ‘premature to draw definitive conclusions’ given the fluid nature of the situation, adding that it will continue to assess developments and respond as necessary should conditions materially change.
Over the longer term, the group pointed to its diversified integrated resort offerings, strong financial position, and Singapore’s status as a well-connected destination as factors supporting its ability to navigate external uncertainties while maintaining operational resilience.
