Casino operator Genting Singapore Ltd reported generated third-quarter revenue of just below SGD690.0 million (US$507.1 million), up 15.8 percent from the preceding quarter. Judged year-on-year, such revenue rose by 32.7 percent.
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The company posted a net profit after taxation of nearly SGD216.3 million for the three months to September 30, a 46.7-percent sequential increase. The result was up 59.3 percent from the prior-year period, according to highlights of third-quarter performance published on Friday by the firm.
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Genting Singapore is the operator of Resorts World Sentosa, one of Singapore’s two casino resorts. The group parent is Malaysian conglomerate Genting Bhd.
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In Friday’s announcement, Genting Singapore said its board had approved a total investment of about SDG6.8 billion to upgrade and expand Resorts World Sentosa (RWS).
The figure includes “amounts which have been spent and the remainder to be invested over the next eight years,” stated the company. That was a referrence to a previous SGD4.5-billion pledge to the city-state’s authorities for the expansion of the complex, known as “RWS 2.0”.
