Genting Singapore sees Q1 spike

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Genting Singapore has reported a net profit after taxation of US$784.4m for the period ending March 31, 2024, a 62 per cent increase against 2023’s Q1 total of $484.5m.

Net profit after taxation was $247.4m, up 92 per cent against the Q1 2023 figure of $129.2m. Adjusted EBITDA was $367.6m, up 94 per cent up against the Q1 2023 figure of $191.7m.

“Resorts World Sentosa (“RWS”) has seen notable benefits from the increased visitorship and tourism spending during the Chinese New Year festive season, as well as from the relaxation of visa regulations between China and Singapore that took effect in February 2024,” the company said in their financial report.

“As one of Asia’s most successful premium lifestyle destination resorts, the group remains dedicated to enhancing RWS’ brand by introducing more lifestyle events and experiences that cater to affluent visitors. These events include Sneaker Con Southeast Asia 2024 which is Southeast Asia’s second edition of the world’s premier sneaker event, held in March 2024.”

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