Singapore Blue-Chip Stock Offering a Great Mix of Growth and Dividends

Genting Singapore (SGX: G13)

Genting Singapore owns and operates the integrated resort (IR) at Resorts World Sentosa (RWS).

The resort opened in 2010 and now features around 1,600 hotel rooms, a casino, a Universal Studio Singapore (USS) theme park, and a variety of retail, dining, and entertainment options.

The group is seeing a strong surge in revenue and profit from the reopening of borders.

Air travel and tourism have returned with a bang and benefitted the IR operator immensely.

Genting Singapore reported a  robust set of earningsfor 2022 and doubled its final dividend to S$0.02.

2022&rsquo s total dividend came up to S$0.03, giving its shares a trailing dividend yield of 3.1%.

The growth momentum is continuing into 1Q 2023 with the group reporting a 54% year on year surge in revenue to S$484.5 million.

Net profit for the period more than tripled year on year from S$40.4 million to S$129.2 million.

In line with its RWS 2.0 strategic plans, the group has rebranded Festive Hotel as Hotel Ora and added 389 rooms to its inventory with a soft launch in April this year.

Ongoing construction works are proceeding smoothly for the USS theme park and new Singapore Oceanarium with a soft opening scheduled for early 2025.