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Genting Singapore lags rival
by hlk Sat 13 Aug 2011, 09:25
SINGAPORE: Genting Singapore said yesterday that gross earnings from its casino-resort in the second quarter fell 34 per cent from the previous three months, lagging behind rival Marina Bay Sands, as it was hit by lower win percentages in its premium players segment.
Resorts World at Sentosa made S$352.5 million (RM872.6million) in earnings before interest, tax, depreciation and amortisation (ebitda) in April-June, down 33 per cent from the S$524.6 million (RM1.29 billion) reported for the year ago period. This was also 34 per cent lower than the S$537.9 million (RM1.33 billion) it earned in the first quarter of this year.
Its EBITDA was lower than the S$405.4 million (RM1 billion) reported by Marina Bay Sands, Singapore's only other casino owned by Las Vegas Sands , for the same period.
Resorts World's net revenue for the second quarter was S$716 million (RM1.77 billion), 22 per cent lower than the preceding quarter due to unfavourable win percentages for its premium players segment, Genting said. - AFP
Resorts World at Sentosa made S$352.5 million (RM872.6million) in earnings before interest, tax, depreciation and amortisation (ebitda) in April-June, down 33 per cent from the S$524.6 million (RM1.29 billion) reported for the year ago period. This was also 34 per cent lower than the S$537.9 million (RM1.33 billion) it earned in the first quarter of this year.
Its EBITDA was lower than the S$405.4 million (RM1 billion) reported by Marina Bay Sands, Singapore's only other casino owned by Las Vegas Sands , for the same period.
Resorts World's net revenue for the second quarter was S$716 million (RM1.77 billion), 22 per cent lower than the preceding quarter due to unfavourable win percentages for its premium players segment, Genting said. - AFP
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