Genting Singapore shares at one-year low with Q3 profit down 42.2% - The Business Times

[SINGAPORE] Shares of Genting Singapore hit a one-year low on Friday (Nov 13), a day after the integrated resort operator reported a 42.2 per cent fall in net profit to S$54.7 million for its third quarter ended Sep 30.

Net profit had stood at S$94.6 million in the corresponding year-ago period.

The counter fell 5.2 per cent to S$0.58 as at 9.01 am, and extended its losses to S$0.570 or 6.6 per cent down by the midday break, its lowest level in a year.

It later clawed back some losses to close the day at S$0.575, with more than 88 million shares having changed hands at a value of S$50.7 million.

The drop follows the company’s announcement of weaker earnings on Thursday evening. Its performance was attributed to softer premium gaming activity, in line with the trend in key regional markets.

An unfavourable rolling win rate in September further hit revenue, the group said.

Revenue for the quarter fell 12.9 per cent year on year to S$566.1 million, while adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) declined 27.4 per cent to S$161.8 million.

Gaming revenue at Resorts World Sentosa (RWS), the group’s Singapore integrated resort, fell 21.7 per cent to S$315 million from S$402.3 million in the corresponding year-ago period.

In contrast, non-gaming revenue rose 1.5 per cent to S$250.9 million from S$247.3 million, which the group described as resilient, despite reduced hotel-room inventory.

Genting Singapore said that, on a normalised rolling hold basis, its adjusted Ebitda would have been about S$36 million higher.

The group said RWS is entering the next phase of its renewal, which includes upgrading and repositioning its hotel portfolio, as well as enhancing its gaming areas, lounges, dining and guest spaces. The works are expected to constrain operating capacity through 2027.

For the final quarter of 2026, the group said it is focused on capturing year-end travel and festive demand while continuing to advance resort-wide renewal.

It will continue to strengthen its premium-customer strategy by enhancing its business development and marketing capabilities, and tapping a calendar of programming and new openings at its lifestyle enclave, Weave.

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