Genting Singapore H1 profit falls 34% to S$234.7 million on weaker gaming, room revenue

[SINGAPORE] Resort and casino operator Genting Singapore reported a 34 per cent drop in profit for the first half of the year to S$234.7 million.

Revenue declined by 10 per cent to S$1.2 billion, from $1.4 billion in the previous corresponding period, Genting said in a regulatory filing on Thursday (Aug 7).

According to its financial statement, the revenue decline was partly driven by a 12 per cent drop in gaming revenue to S$839.4 million, and a 19 per cent fall in room revenue to S$98.4 million.

Earnings per share stood at S$0.0194 for the first six months, down S$0.0102 from the previous year.

An interim dividend of S$0.02 per share was declared for the half year, unchanged from the year before. The dividend will be paid on Sep 17.  

Shares of Genting Singapore closed Thursday at S$0.755, up 0.7 per cent or S$0.005, before the results were released.