Opening borders helps Genting Singapore lift gaming revenue

The reopening of international borders and pent-up demand for gaming and tourism helped Genting Singapore’s H1 gaming revenue rise by seven per cent.

Overall, however, the group reported a net profits drop from S$88.2m in H1, 2021, to S$84.4m for the same period this year, despite a rise in revenue by 19.5 per cent to S$663.1m. Of the overall revenue, gaming activities accounted for S$475.2m, up from S$442.9m in H1, 2021. 

Cost of sales rose from S$346.9m to $463m, said the company. It added: “We are embarking on a make-over of our tourism offerings to enhance the integrated resort’s appeal as a destination, to capitalise on the post-pandemic pent-up demand, in particular from the affluent regional market.

“With refreshed product offerings targeted at the premium market, we are confident that return on invested capital will deliver significant future growth.”