Photo: Genting Singapore

Genting Singapore's license to operate a casino here has been renewed for two years with effect from next February.

The company, which operates Resorts World Sentosa, has been assessed by the Gambling Regulatory Authority of Singapore (GRA) to be "suitable to manage and operate the casino".

According to Genting Singapore, the renewal was granted by GRA after taking into account its ability to "develop, maintain and promote the integrated resort as a compelling tourist destination."

Genting Singapore notes that the tourism industry in Singapore in general, including RWS, faced very significant challenges during the evaluation period of 2021 and 2023, which coincided with the pandemic.

"RWS continues to accelerate its transformation to refresh and rejuvenate existing offerings to deepen its destination appeal and visitor experiences. With its RWS2.0 expansion plans underway, RWS is dedicated to maintaining its status as the premier lifestyle tourism destination," says Genting Singapore.

On Nov 7, Genting Singapore reported 3QFY2024 earnings of $79.4 mil, 63% lower y-o-y.

Genting Singapore shares closed Nov 18 at 78 cents, unchanged for the day but down nearly a quarter year to date.