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Genting Sing

Stock Chart
Last Done 0.685
Change +0.010 (+1.48%)
Volume 3,942.8
Range 0.675 - 0.685

Related News

Genting Singapore suffers worst quarter since RWS' 2010 opening

08 Aug 2020 09:00

Genting Singapore, which owns Universal Studios Singapore, closed the second quarter with a net loss of $163.3 million, a sharp reversal from the net profit of $168.4 million in the same period a year ago. ST FILE PHOTO

By Grace Leong,Business Correspondent

Genting Singapore suffered its worst quarter since its integrated resort (IR) opened in 2010, as pandemic-induced disruptions to the global travel and tourism industry, coupled with a shutdown of nearly three months, dragged the Singapore-listed casino operator into the red in the second quarter.

It closed the quarter with a net loss of $163.3 million - the worst quarterly performance since Resorts World Sentosa (RWS) opened.

This was a sharp reversal from the net profit of $168.4 million in the same period a year ago.

"With tourism being the main driver of the group's business, our operations and financial performance have been severely impacted. At the onset of the pandemic, visitor arrivals dropped very significantly from February," Genting Singapore said in its quarterly business review released after market close yesterday.


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Source: Straits Times
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