Genting Singapore's revenue reaches $670.2m in 3Q12

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SymbolPriceChange
G13.SI1.035+0.020

RWS contributed revenue of $662m.

According to a company statement, when an uncertain global economic environment began to present challenges to the Asian economies towards the end of year 2011, the Group had adopted a cautious approach in its business dealings and continues to deliver a set of sustainable financial results.

For the third quarter of 2012, the Group reported revenue of S$670.2 million and adjusted earnings before interest, tax, depreciation and amortisation of S$303.2 million.

Resorts World Sentosa  – Singapore Integrated Resort contributed revenue of S$662.0 million and adjusted EBITDA of S$304.0 million.

Comparing to the second quarter of 2012, overall revenue and adjusted EBITDA was affected by a lower win percentage in the premium player business.

Other business segments remain healthy with Universal Studios Singapore recording a daily average visitation of 9,100 visitors and average spend of S$86.

The hotel business saw an increase in occupancy rate to 93% with an average room rate of S$432. As the Marine Life Park (“MLP”) moves into its final pre-operations phase, we continue to incur pre-opening operating costs without corresponding revenue.

For the nine-month period of 2012, the Group reported revenue of S$2,159.4 million and net profit of S$515.5 million.

Singapore IR continues to produce steady stream of income to the Group with healthy growth in the hotel and USS business while the gaming business saw a lower business volume. 



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