Wednesday, June 19, 2024

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RWS 2.0 Waterfront construction starts in late 2024

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.

Hard Rock Hotel to close next month due to RWS’s expansion

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.

Genting Singapore 1Q23 earnings grow 220%, keeps enhancing RWS’ brand

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 puts sustainability at the core of Resorts World Sentosa 2.0

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.

Genting Chairman: group open to UAE and Thailand IR investments

The Chairman of Genting Group, Lim Kok Thay, says that the company is open to pursuing an integrated resort opportunity in the United Arab Emirates and is awaiting more information to see about whether to bid for an IR development in Thailand.

Daily Asia Gaming eBrief: eGaming could surpass land-based GGR

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.

Maybank trims Genting Singapore profit estimates despite optimistic outlook

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 adjusted EBITDA jumps 68 percent y-on-y to $336 million in 1H23

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 remains “cautiously optimistic” of recovery pace

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 sees a strong return, but longer-term clouds linger

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.