• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 30 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

High VIP win rate keeps Genting Singapore’s 2Q19 results respectable despite 5% profit fall

Newsdesk by Newsdesk
Sun 4 Aug 2019 at 17:52
Increased entry levy to hurt Genting Singapore in 2019 and beyond: analysts

Resorts World Sentosa

31
SHARES
605
VIEWS
Print Friendly, PDF & Email

Genting Singapore has pointed to a series of challenging headwinds for a 5% year-on-year decline in net profit to SG$168.4 million in the three months to 30 June 2019, warning the decline would have been significantly greater if not for a high VIP win percentage.

The falling profit came despite a 22% increase in gaming revenue to SG$441.1 million at Resorts World Sentosa – also boosted by the VIP results – with the company performing poorly in mass and facing high bad debt expenses. Adjusted EBITDA increased 11% year-on-year to SG$294 million but would have declined 14% if not for the VIP win rate of 3.7%, up from 2.6% 12 months earlier.

In a management discussion following the release of its 2Q19 results, Genting Singapore said, “Amidst a confluence of challenging headwinds, this [revenue] decline would have been significant if not for the high rolling win percentage in the VIP rolling business segment at Resorts World Sentosa.

“Underlying mass gaming business experienced significant declines in the quarter and would have been further impacted if not for considerable increased spending to tap the regional markets. Adding to the decline were the effects of a slowing local economy and within the region.

“The underlying revenue drivers have been impacted by various factors that will continue to affect our business through the rest of this year. We maintain our cautious stance on the premium segment as the regional economic environment faces uncertainty and will impact consumer confidence. Nevertheless, Resorts World Sentosa will continue to innovate its offerings to enhance and diversify its appeal to various target markets around the region.”

Genting Singapore also confirmed it has submitted a Request for Concept to officials in Osaka in pursuit of a Japan IR license, with Yokohama also on the horizon should the city decide to enter the running. It has, however, ruled out regional destinations.

RelatedPosts

Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

Fri 29 Aug 2025 at 05:30
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
Sons of NagaCorp founder Chen Lip Keong join Forbes list of Malaysia’s richest

Surging mass market sees NagaCorp gaming revenues, profit enjoy double-digit growth in 1H25

Tue 26 Aug 2025 at 05:30
Solaire: Leader of the pack

Solaire operator Bloomberry falls to 2Q25 loss on continued weakness in VIP and premium mass gaming segments, online gaming expenses

Wed 13 Aug 2025 at 16:15
Load More
Tags: EbitdaGenting SingaporeMass marketResorts World SentosaSingaporeVIP
Share17Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

All your sports entertainment with SABA Sports – always fair and sharp since 1998.

All your sports entertainment with SABA Sports – always fair and sharp since 1998.

by Newsdesk
Fri 29 Aug 2025 at 18:57

CLIENT PROMOTION Since 1998, SABA Sports has stood as the trusted backbone of the world’s most respected sports betting brands. Built on real-time intelligence and operational excellence, we have earned our reputation as the definitive partner for leading operators worldwide....

Newly appointed Thai PM Paetongtarn Shinawatra expected to continue pursuit of legalized casinos

Thai casino bill dead in the water as Constitutional Court removes Prime Minister Paetongtarn Shinawatra from office

by Ben Blaschke
Fri 29 Aug 2025 at 18:44

Thai Prime Minister Paetongtarn Shinawatra has been removed from office for ethics violations after the Constitutional Court ruled 6-3 against her on Friday. She becomes Thailand’s sixth Prime Minister to be removed by a court or legal ruling since 2008...

Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Star Entertainment Group falls to AU$471.5 million loss in FY25 as remediation, regulatory hurdles continue to bite

by Ben Blaschke
Fri 29 Aug 2025 at 07:38

Australia’s Star Entertainment Group has reported a statutory loss of AU$471.5 million (US$308 million) for the financial year ended 30 June 2025, impacted by a 29% year-on-year decline in group-wide revenue including a 37% fall in gaming revenue. Although the...

Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

by Ben Blaschke
Fri 29 Aug 2025 at 05:30

Resorts World Las Vegas (RWLV), the US flagship of Malaysian gaming giant Genting Berhad, saw revenues grow by 8% quarter-on-quarter to US$180 million and EBITDA by 80% to US$18 million in 2Q25, with the company pointing to improved hold and...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語