Net profit of Genting Singapore increased by 228%
Date: 2023-08-11 Author: Kirill Zagoruyko Categories: CASINO
Key Features:
- Revenue reaches SGD 1.08 billion.
- Adjusted EBITDA increased by 68% year on year.
- Net income increased by 228% to SGD 276.7 million.
The casino resort on Sentosa Island earned a total of S$1.08 billion ($800 million) in the first half of 2023, up from S$663.1 million in the first half of 2022.
Breaking down its revenue, it generated SGD 746.9 million from its gaming property segment, while its non-gaming segment generated SGD 326.9 million and SGD 6.2 million from other revenues.
This compares to the first half of 2022, when its gaming division reported SGD 475.2 million and its non-gaming division reported SGD 183 million in total revenue.
Meanwhile, Genting Singapore's adjusted EBITDA was SGD 452.4 million, another strong year-on-year growth (68%) from SGD 268.7 million in the first half of 2022.
In addition, EBITDA for the first half of 2023 was SGD 437.3 million, up 79% from SGD 244.5 million in the first half of 2022.
Genting Singapore's net income rose significantly over the year to S$276.7 million, up a whopping 228% from the first half of 2022.
Looking at the stock price of Genting Singapore, since the beginning of 2023 when it was SGD 0.95, there has been a steady rise followed by a fall. At the time of writing, it was worth SGD 0.96, however it was worth SGD 1.18 at its peak on April 5th.
The current price means Genting Singapore has a market capitalization of US$8.23 billion.
Genting Singapore Resort on Sentosa Island is one of only two casinos in the Singapore duopoly, and its nearest casino neighbor is the mighty Marina Bay Sands.
Both are among the largest casinos in the region, and Gambling Insider reports that Resorts World Sentosa is the fifth-highest-grossing casino in Asia.
However, Marina Bay Sands' own earnings report showed the scale of its operations in the Southeast Asian nation, with revenues of $1.8 billion for the first half of 2023, about $1 billion more than its island compatriot. .
- Revenue reaches SGD 1.08 billion.
- Adjusted EBITDA increased by 68% year on year.
- Net income increased by 228% to SGD 276.7 million.
The casino resort on Sentosa Island earned a total of S$1.08 billion ($800 million) in the first half of 2023, up from S$663.1 million in the first half of 2022.
Breaking down its revenue, it generated SGD 746.9 million from its gaming property segment, while its non-gaming segment generated SGD 326.9 million and SGD 6.2 million from other revenues.
This compares to the first half of 2022, when its gaming division reported SGD 475.2 million and its non-gaming division reported SGD 183 million in total revenue.
Meanwhile, Genting Singapore's adjusted EBITDA was SGD 452.4 million, another strong year-on-year growth (68%) from SGD 268.7 million in the first half of 2022.
In addition, EBITDA for the first half of 2023 was SGD 437.3 million, up 79% from SGD 244.5 million in the first half of 2022.
Genting Singapore's net income rose significantly over the year to S$276.7 million, up a whopping 228% from the first half of 2022.
Looking at the stock price of Genting Singapore, since the beginning of 2023 when it was SGD 0.95, there has been a steady rise followed by a fall. At the time of writing, it was worth SGD 0.96, however it was worth SGD 1.18 at its peak on April 5th.
The current price means Genting Singapore has a market capitalization of US$8.23 billion.
Genting Singapore Resort on Sentosa Island is one of only two casinos in the Singapore duopoly, and its nearest casino neighbor is the mighty Marina Bay Sands.
Both are among the largest casinos in the region, and Gambling Insider reports that Resorts World Sentosa is the fifth-highest-grossing casino in Asia.
However, Marina Bay Sands' own earnings report showed the scale of its operations in the Southeast Asian nation, with revenues of $1.8 billion for the first half of 2023, about $1 billion more than its island compatriot. .
