CEO Morning Brief

Author: edgeinvest   |   Latest post: Tue, 10 Jan 2023, 11:54 AM


Genting Singapore 3QFY2022 Earnings and Revenue Double

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Genting Singapore 3QFY2022 earnings and revenue double

SINGAPORE (Nov 10): Genting Singapore, which operates the Resorts World Sentosa integrated resorts, has reported a significant improvement in its results for 3QFY2022 ended Sept 30.

For the period, earnings reached S$135.8 million (RM455.28 million), versus $60.7 million in the year-earlier; revenue in the same quarter was S$519.7 million, more than double S$251.5 million in 3QFY201.

“The overall improvement in RWS’ operating performance reflects the ongoing recovery of regional travel markets, but such recovery has yet to return to the pre-pandemic levels. The rebound in gaming revenue was led by more affluent and premium customers that are staying slightly longer,” says Genting Singapore.

The company, however, warns of labour shortages and cost pressures as “significant challenges”.

“We remain confident and excited about our growth opportunities in Singapore,” says Genting Singapore.

Genting Singapore shares closed Nov 10 at 82 cents, up 0.62% for the day and up 4.49% year to date.

Source: TheEdge - 11 Nov 2022

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