Singapore

Genting’s EBITDA plunged 55% to $146.89m in Q1

Singapore Its flagship property Resorts World Sentosa took a severe hit from the pandemic. Genting Singapore saw its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) crash 55% YoY to $146.89m in Q1 from $329.68m in 2019, an SGX filing revealed. Specifically, the adjusted EBITDA of its integrated resorts business crashed 53% YoY to $159.26m. This was still blamed ...

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GEN Singapore warns of slow recovery as 1Q rev dips 37pct

The Covid-19 pandemic has been “absolutely devastating to the tourism industry across the world,” including Singapore casino complex Resorts World Sentosa, said its promoter Genting Singapore Ltd in a quarterly business update filed on Wednesday. The firm added its resort had been “severely affected” with disruption starting as early as the end of January, with things “worsening over the quarter”. ...

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