Genting Singapore’s Profit Decline Accelerates in Q1

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Genting Singapore’s first-quarter profit fell sharply as higher operating costs and weaker gaming revenue outweighed gains from attractions at Resorts World Sentosa.

Genting Singapore revenue declines
Key Takeaways:
  • Profit drops sharply due to increased operating costs and weaker gaming revenue
  • Non-gaming attractions see traffic growth, offsetting declines
  • Company plans asset upgrades and new concepts to counteract headwinds

Net profit dropped to S$65.2 million for the three months to March 31, from S$145 million (US$105 million) a year earlier, while revenue slipped 3% to S$607.6 million (US$450 million). 

Gaming revenue fell 8% to S$403.4 million (US$317 million), though non-gaming revenue rose 8% to S$204.1 million (US$160.4 million), helped by stronger traffic at Universal Studios Singapore and the Singapore Oceanarium.

Cost Pressures Bite

The company said it made “steady operational progress” during the quarter, with gaming momentum improving late in the period, per The Business Times. 

But the benefit was offset by broader headwinds, including higher energy, freight and logistics costs tied to Middle East tensions and other geopolitical developments. 

“The ongoing conflict in the Middle East and current geopolitical developments have increased cost pressures across supply chains, including higher energy, freight and logistics expenses, while elevated airfares are weighing on travel demand and dampening consumer sentiments.” 

Adjusted EBITDA declined 24% to S$179 million (US$140 million).

Resort Strategy Shifts

Genting said it will keep focusing on asset optimization, seasonal programming and refreshed dining and lifestyle offerings to lift guest engagement and broaden revenue streams. 

The company is also looking at new concepts, hotel upgrades and technology applications to strengthen operational coherence. Genting Singapore’s full-year 2025 results underscored a difficult year for Resorts World Sentosa, with net profit declining about one-third to roughly S$390.3 million (US$304 million).