Genting Singapore, known for operating Resorts World Sentosa, has reported a challenging first quarter of 2025 with significant revenue declines primarily due to hotel renovations and an unfavourable macro environment. Revenue reached SG$626.2 million (US$481 million), a 20% drop year-on-year, heavily impacted by lower hotel inventory and weaker demand across its gaming and non-gaming sectors.
Key Points
- 1Q25 revenue of SG$626.2 million, down 20% from the previous year.
- Gaming revenue fell 24% year-on-year to SG$437.5 million, but improved 5% quarter-on-quarter.
- Non-gaming revenue also declined by 10% year-on-year.
- Adjusted EBITDA dropped 36% year-on-year, despite a quarter-on-quarter increase.
- Anticipated recovery in the second half of 2025 as renovations are completed and new attractions open.
Why should I read this?
If you’re interested in the gaming and hospitality sectors or simply want to stay updated on market trends, this article is a must-read. It reveals the struggles faced by Genting Singapore due to renovations and the broader economic climate, giving you insider knowledge on what’s affecting this major player. Plus, it discusses potential bounce-back strategies – definitely worth your time!