Resorts World Sentosa operator records 25% profit rise

Genting Singapore, the operator of Resorts World Sentosa, has reported a 25% rise in profits in the third quarter of the year to S$210.41 million with average daily visitors exceeding 22,000 at its attractions.

The company cited strong results in the attractions business of Resorts World Sentosa (RWS), especially Universal Studios Singapore, S.E.A. Aquarium, and Adventure Cove Waterpark, with profits rising from $168.69 million in the same period last year. Revenue grew 1% to $639.06 million from $629.87 million.

However, the company cited the presence of rising global uncertainties and intensifying competition within the region, with its financial statement advising “we will look to sharpen our marketing focus on the regional premium mass customers by refreshing our facilities and products to enhance their gaming experience. Meanwhile, we will continue to pursue VIP rolling volume with measured credit risk appetite.”

Genting Singapore is one of the companies aggressively working towards securing a slot in Japan’s proposed integrated resorts.

Here it cited “specific cities have shown interest in having an IR and we have responded to their requests for information, views and comments. Concurrently, we have also engaged in discussions with stakeholders to understand the environment and the localities where such cities are involved.”