Genting Singapore ( (GIGNF) ) has released its Q4 earnings. Here is a breakdown of the information Genting Singapore presented to its investors.
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Genting Singapore Limited is a leading player in the leisure and hospitality industry, primarily known for its integrated resort operations in Singapore. The company is recognized for its flagship property, Resorts World Sentosa, which features gaming, non-gaming, and entertainment offerings.
In its latest earnings report for the financial year ending December 31, 2024, Genting Singapore reported a revenue growth of 5% to over $2.5 billion. Despite this growth, net profit decreased by 5% to $578.9 million, reflecting challenges such as rising costs and inflationary pressures.
Key financial metrics highlighted in the report include a 6% decline in adjusted EBITDA to $960.1 million and a slight decrease in earnings per share from 5.07 cents to 4.79 cents. The company’s gaming sector saw a 3% increase in revenue, while the non-gaming sector grew by 7%. However, the overall profit before taxation dropped by 6%. The company also continued its focus on strategic investments and technological advancements, aiming to enhance operational efficiency and customer experience.
Looking ahead, Genting Singapore remains optimistic about its future prospects, with plans to launch new attractions and accommodations as part of its RWS 2.0 initiative. The company is also closely monitoring industry developments that could present new opportunities, such as the potential legalization of casinos in Thailand.
Despite current challenges, Genting Singapore is committed to maintaining its position as a premier destination in the region by investing in innovative experiences and infrastructure improvements to drive sustainable growth.
