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Genting Singapore Q3 net profit rises 19% to S$94.6 million amid higher VIP volume, win rate
[SINGAPORE] Genting Singapore : G13 0% posted a 19 per cent year-on-year increase in net profit to S$94.6 million for the third quarter ended Sep 30, with improved VIP rolling volume and win rate contributing a significant rise to its revenue.
Revenue stood at S$649.8 million, up 16 per cent from the S$561.9 million posted for the year-ago period, said the group in a quarterly business overview filed on the Singapore Exchange on Thursday (Nov 6).
Gaming revenue rose 22 per cent to 402.3 million in Q3, from S$330 million previously Genting Singapore attributed this to improved VIP rolling volume and win rate.
Non-gaming revenue, meanwhile, improved 7 per cent year on year to S$247.3 million from S$231.8 million.
Genting Singapore names new RWS chief operating officer
Si Chen will assist the resort&rsquo s CEO in executing strategies, managing and developing its core businesses
[SINGAPORE] Genting Singapore has appointed Si Chen as chief operating officer (COO) of its wholly owned subsidiary Resorts World Sentosa (RWS), effective Dec 1.
&ldquo The appointment reflects RWS&rsquo continued focus on leadership renewal and sustained operational performance as the resort advances its transformation under RWS 2.0,&rdquo said a press statement on Monday (Oct 20).
As part of the resort&rsquo s expansion plans, or RWS 2.0, Genting Singapore is opening new attractions this year. The board has approved a total investment of about S$6.8 billion to upgrade and expand the casino complex, as Genting Singapore seeks to boost RWS&rsquo appeal amid slower international visitor arrivals, rising competition and declining gaming revenue.
Earlier expansions this year include the revamped retail precinct Weave, which opened in July, and the Singapore Oceanarium, which welcomed visitors later that month. A new themed zone, Illumination&rsquo s Minion Land, at Universal Studios Singapore, was launched in February.
As COO, Si will assist the resort&rsquo s chief executive officer Lee Shi Ruh in executing strategies, managing and developing its core businesses.
Si, 41, will also oversee day-to-day operational performance, organisational excellence and the continued improvement of guest experience across the resort.
Genting Singapore H1 profit falls 34% to S$234.7 million on weaker gaming, room revenue
He brings nearly two decades of international experience in the gaming and hospitality sector, having held senior leadership roles across integrated resorts in the region.
He currently serves as CEO and representative director of Inspire Entertainment Resort in South Korea, a post he will vacate in November. He has also held leadership roles at Macau Legend Development, Sands China and Marina Bay Sands, Singapore.
80 ct coming...
So long as can hold, share price is bound to rise again.. When? I dont know.. maybe 3rd, 4thq 2025 or H1 2026.. When that happens, you will gain both price appreciation and the dividends
halleluyah ( Date: 13-Aug-2025 10:18) Posted:
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Is Genting Singapore still a good bet?
The company&rsquo s H1 2025 financial performance was disrupted by the temporary closure of some attractions at Resorts World Sentosa
[SINGAPORE] This column predicted late last year that Genting Singapore&rsquo s profitability will improve in 2025, and drive a recovery in its beaten down share price.
So far, it has turned out to be a rather poor bet.
Genting Singapore&rsquo s shares have chalked up a total return of less than 0.1 per cent since the beginning this year (up to Aug 8). This made it the sixth worst-performing component of the Straits Times Index, which delivered a total return of more than 15.5 per cent.
Worse, the company&rsquo s financial results for the first six months of 2025, released on Aug 7, spurred earnings forecast cuts by analysts. At least one research house is now warning that the stock might be on the brink of being booted off the MSCI Singapore Index.
Is it time to fold? Or double down? At the risk of giving credence to the old Wall Street joke that every long-term investment is really a short-term punt gone wrong, it does appear that much of the reasoning this column offered to support the view that Genting Singapore&rsquo s luck is about to turn still holds.
In particular, revenue and earnings from its Resorts World Sentosa (RWS) integrated resort will probably improve with the refurbishment of its hotels, and the progressive opening of new attractions under its S$6.8 billion &ldquo RWS 2.0&rdquo expansion plan.
The dip in the &ldquo win rate&rdquo at its RWS casino that exacerbated the slump in profitability in the second and third quarters of last year have also reversed.
Moreover, even after all the earnings forecast cuts, Genting Singapore&rsquo s shares are still trading at undemanding valuations and offer a decent dividend yield.
In a report dated Aug 11, OCBC Investment Research dubbed 2024 a &ldquo year of refurbishments&rdquo for RWS, and said the new offerings under RWS 2.0 should drive stronger growth from 2025.
Lost market share?
The trouble is that Genting Singapore&rsquo s financial numbers for the first six months of 2025 were weaker than what many analysts were expecting. Revenue for the period declined 10.4 per cent year on year to S$1.21 billion, while net profit fell 34.2 per cent to S$234.7 million.
Its adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) for the six-month period was down 25.8 per cent at S$423.7 million.
Things actually seemed to worsen in Q2 2025. Revenue during the quarter fell 6.1 per cent against Q1 2025 to S$588.3 million, while adjusted Ebitda sank a more significant 20.3 per cent to S$187.9 million.
What went wrong? By most accounts, the weaker profitability was caused by the closure of some attractions at RWS to facilitate construction works related to the RWS 2.0 project, which deterred mass-market gamblers and non-gaming visitors.
This may have benefited rival integrated resort Marina Bay Sands, which reported relatively strong financial numbers for the same period.
&ldquo We believe Genting Singapore lost market share, especially for its mass gaming segment, given ongoing renovation works across RWS &ndash which is likely to have turned visitors away from the property,&rdquo said CGS International in an Aug 8 report.
RWS&rsquo performance could soon turn around, however, as the disruptions ease and new attractions begin drawing visitors back. Last month, RWS opened its Weave mall, and the new Singapore Oceanarium. The transformation of the Hard Rock Hotel into The Laurus is also expected to help draw more visitors to the integrated resort.
&ldquo While Genting Singapore has been losing gaming revenue market share to (its) peers, we believe the roll-out of these projects and the phased completion of its RWS 2.0 attractions from H2 2025 could help (it) drive revenue growth and margins improvement, and regain market share,&rdquo said OCBC in its report.
Decent dividend
There are lots of risks ahead, of course. For one thing, the new attractions at RWS are opening amid heightened global economic uncertainty. Singapore&rsquo s visitor arrivals in H1 2025 came in at 8.3 million, up only 1.9 per cent versus H1 2024, and down 0.2 per cent against H2 2024.
In November last year, Genting Singapore&rsquo s shares slipped sharply after it emerged that RWS&rsquo casino licence would be renewed for only two years instead of the customary three years. The Gambling Regulatory Authority said on Nov 18 that RWS&rsquo tourism performance had been assessed to be unsatisfactory, and that substantial improvement was required.
Nevertheless, even after adjusting their earnings forecasts to account for a disappointing H1 2025 and a possibly slower recovery in 2026 and 2027, some analysts still seem positive about Genting Singapore.
For instance, CGS said it is maintaining its &ldquo add&rdquo recommendation on Genting Singapore&rsquo s shares, despite reducing its earnings forecasts for 2025 to 2027 by between 5.1 per cent and 13 per cent, and slashing its target price for the stock from S$1.05 to S$0.835.
OCBC maintained its &ldquo buy&rdquo call on Genting Singapore, after cutting its target price from S$1.03 to S$0.96.
Maybank said in an Aug 8 report that it has cut its 2025 earnings forecast for Genting Singapore by 16 per cent but maintained its 2026 and 2027 earnings forecasts. &ldquo (The company) missed our expectations largely due to RWS 2.0-related construction works. Yet, we expect this to be transient,&rdquo it noted.
The research house reduced its target price for Genting Singapore shares marginally, from S$1.01 to S$1.00.
Based on its 2024 dividend payout of S$0.04 per share, the stock offers a yield of 5.4 per cent. The stock will begin trading ex-dividend for a H1 2025 payout of S$0.02 per share on Aug 27.
yeah, can treat as fd since bank int is only abt 1.6% niah...tis babe is profitable n cash rich...div is 5.44%...dyodd
cloudy.mountain ( Date: 10-Aug-2025 11:41) Posted:
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agree is a stock that is facing some headwinds now.
however, i think investors with patient capital may be willing to look through the cycle and invest in it as a dividend play. the Singapore-centric portfolio, optionality on casino pick-up, strong free cash flow generation and high dividend yield makes this relatively more attractive as compared to the hospitality REITs on SGX.
however, i think investors with patient capital may be willing to look through the cycle and invest in it as a dividend play. the Singapore-centric portfolio, optionality on casino pick-up, strong free cash flow generation and high dividend yield makes this relatively more attractive as compared to the hospitality REITs on SGX.
Would be well supported within range by 2 cents dividend, 3q result is somewhere in nov.
August to Sep always bad months for stocks, bb always find reasons to unload.
Trump Tariff drama over next week, most likely market would sell down as trump TACO trade unwind.
August to Sep always bad months for stocks, bb always find reasons to unload.
Trump Tariff drama over next week, most likely market would sell down as trump TACO trade unwind.
I recently went to the Singapore Oceanarium. Must say it is quite an impressive Aquarium. Likely up there among the Top 3 in the World. Should be a crowd draw going forward for tourists and locals.
Let' s watch it go up from next week
Ex dividend 2 cents on 27/8
Ex dividend 2 cents on 27/8
Agree!!!
Happy national day!!!
Happy national day!!!
n3wbie ( Date: 09-Aug-2025 11:54) Posted:
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The best way to know how the business is performing is to go visit - USS is jam packed with tourists. Even with fast pass, the queue is easily 20-40m for each ride. Weave is not fully opened but some of the strong F& B offerings are drawing the footfall with Pierre Herme and Korean Standard Bread. Oceanarium is also crowded with tourists and locals - clearly the earnings is coming off a low base given closures so q/q and y/y EPS growth can be expected.
Analysts are simply valuing the stock like a casino stock such as those in Macau or MBS. The valuation model applied is questionable so it depends how aggressive you feel such experiential attractions are worth. Just look to Disney and many others as it should be a case of revenue intensity, etc - point is, the metrics are wrong so dyodd when following the analysts, particularly those with sell and hold calls!
Also as Alignment highlighted, if you track GENS track record, they basically maintain or increase their DPS consistently so current price offers a safety net of 5.3% yield (assuming constant 4c DPS for FY25) then you get the EPS upside with reopenings.
Case in point, FY23 payout ratio was 69% and they increased it to 83% to maintain 4c DPS. The upside delta here is that with EPS recovery in 2H25 / FY26, DPS can potentially increase as pegged to dividend payout ratio. Otherwise, just sit and clip > 5% yield from a stock with $3.4b net cash and no debt and consistently generating free cash flow.
Happy National Day!
Analysts are simply valuing the stock like a casino stock such as those in Macau or MBS. The valuation model applied is questionable so it depends how aggressive you feel such experiential attractions are worth. Just look to Disney and many others as it should be a case of revenue intensity, etc - point is, the metrics are wrong so dyodd when following the analysts, particularly those with sell and hold calls!
Also as Alignment highlighted, if you track GENS track record, they basically maintain or increase their DPS consistently so current price offers a safety net of 5.3% yield (assuming constant 4c DPS for FY25) then you get the EPS upside with reopenings.
Case in point, FY23 payout ratio was 69% and they increased it to 83% to maintain 4c DPS. The upside delta here is that with EPS recovery in 2H25 / FY26, DPS can potentially increase as pegged to dividend payout ratio. Otherwise, just sit and clip > 5% yield from a stock with $3.4b net cash and no debt and consistently generating free cash flow.
Happy National Day!
It' s actually quite positive. And the dividend means investors are paid well to wait.
alexvar ( Date: 08-Aug-2025 15:37) Posted:
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Inside Raffles Sentosa Singapore, with private pool villas, lush greenery and diverse dining experiences.
Super luxury villas by Raffles Hotel opened in March 2025.
The Laurus, a Super Luxury Collection Resort in Genting RWS Sentosa will open soon.
The Luxury Collection is a brand under hospitality conglomerate Marriott International !
luxury travel and gaming is coming to Sentosa !
Should be good for G13 !
DYDD.
Super luxury villas by Raffles Hotel opened in March 2025.
The Laurus, a Super Luxury Collection Resort in Genting RWS Sentosa will open soon.
The Luxury Collection is a brand under hospitality conglomerate Marriott International !
luxury travel and gaming is coming to Sentosa !
Should be good for G13 !
DYDD.
it is not about believing.
it is about understanding different risks raised by analysts.
About a month ago, DBS raised the MSCI index exclusion risk during August-7 rebalancing, and it did not happen.
So it is positive for Genting SG !
DYDD.
it is about understanding different risks raised by analysts.
About a month ago, DBS raised the MSCI index exclusion risk during August-7 rebalancing, and it did not happen.
So it is positive for Genting SG !
DYDD.
finjungle ( Date: 08-Aug-2025 15:36) Posted:
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From Genting August results
Genting Singapore navigated its transformation phase with steady growth in the second quarter. This
steady growth was maintained notwithstanding the unavoidable Resorts World Sentosa (RWS) 2.0
transformation-related disruptions. Aligned to the Groups strategic delivery of RWS 2.0 transformation
plan, phased closures and brown-field constructions were undertaken to elevate destination appeal and
service excellence.
The Group delivered a revenue of $1,214.5 million and adjusted earnings before interest, tax, depreciation
and amortisation (Adjusted EBITDA) of $423.7 million for the first half of 2025.
While the performance for first quarter of 2025 moderated year-on-year due to the absence of 2024&rsquo s visa-driven demand, the
Groups revenue grew 3 percent in the second quarter of 2025 to $588.3 million driven by the growth in VIP rolling volume and higher win rate, and increased visitorship to Universal Studios Singapore following the successful launch of Illumination&rsquo s Minion Land in February 2025.
The Groups Adjusted EBITDA for the second quarter of 2025 was $187.9 million, a 7 percent decline from the prior year, reflecting the impact of higher
costs and the temporary closure of S.E.A. Aquarium in May and June this year to facilitate the opening of the Singapore Oceanarium.
Genting Singapore navigated its transformation phase with steady growth in the second quarter. This
steady growth was maintained notwithstanding the unavoidable Resorts World Sentosa (RWS) 2.0
transformation-related disruptions. Aligned to the Groups strategic delivery of RWS 2.0 transformation
plan, phased closures and brown-field constructions were undertaken to elevate destination appeal and
service excellence.
The Group delivered a revenue of $1,214.5 million and adjusted earnings before interest, tax, depreciation
and amortisation (Adjusted EBITDA) of $423.7 million for the first half of 2025.
While the performance for first quarter of 2025 moderated year-on-year due to the absence of 2024&rsquo s visa-driven demand, the
Groups revenue grew 3 percent in the second quarter of 2025 to $588.3 million driven by the growth in VIP rolling volume and higher win rate, and increased visitorship to Universal Studios Singapore following the successful launch of Illumination&rsquo s Minion Land in February 2025.
The Groups Adjusted EBITDA for the second quarter of 2025 was $187.9 million, a 7 percent decline from the prior year, reflecting the impact of higher
costs and the temporary closure of S.E.A. Aquarium in May and June this year to facilitate the opening of the Singapore Oceanarium.
Believe analysts???
alexvar ( Date: 08-Aug-2025 15:34) Posted:
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From DBS 1 month ago: " Given this, we believe Genting Singapore faces a credible risk of exclusion in the upcoming MSCI review, with the next announcement scheduled for Aug 7, 2025, and any changes to take effect on Aug 27, 2025. "
the worst case scenario raised by DBS did not happen.
Genting is still part of MSCI Singapore index after the August-7 review.
the worst case scenario raised by DBS did not happen.
Genting is still part of MSCI Singapore index after the August-7 review.
load at 73ct good luck
80 cent by year end
80 cent by year end
vivacious ( Date: 08-Aug-2025 09:09) Posted:
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Genting Singapore 1HFY2025 earnings down 35% y-o-y to $233.1 mil
Genting Singapore has reported lower earnings for the 1HFY2025 ended June 30, down 35% y&ndash o-y to $233.1 million.
Earnings per share for 1HFY2025 consequently came in 34% y-o-y lower at 1.94 cents.
Revenue for the 1HFY2025 came in 10% y-o-y lower at $1.21 billion, and gross profit came in 16% y-o-y lower at $406.9 million.
The group says the performance for the first quarter moderated y-o-y due to the absence of 2024&rsquo s visa-driven demand, but revenue grew 3% in the second quarter to $588.3 million driven by the growth in VIP rolling volume and higher win rate, and increased visitorship to Universal Studios Singapore.
The group&rsquo s adjusted EBITDA for the second quarter of 2025 was $187.9 million, a 7% decline from the prior year, reflecting the impact of higher costs and the temporary closure of S.E.A. Aquarium in May and June this year to facilitate the opening of the Singapore Oceanarium.
Genting says that as RWS 2.0 progresses, it anticipates impacts from ongoing brown-field construction and phased closures &ndash an integral part of executing a large-scale transformation within an operating resort environment.
Management remains focused on disciplined resource allocation and minimising disruption to existing operations.
The board has recommended a dividend of 2 cents per ordinary share for the 1HFY2025.