Genting Singapore's Q3 profit sharply lower

Genting Singapore earns S$188m in Q3

SINGAPORE: Casino operator Genting Singapore earned a net profit of S$188 million in its third quarter.

The profit in the three months ended September 30 compares with a net loss of S$93 million a year earlier.

However, the third-quarter's profit is lower than the S$397 million it earned in the previous three months.

Total revenue in the third quarter jumped to S$744 million, compared with S$12 million for the same three-month period a year earlier.

But on a quarter-on-quarter comparison, revenue fell from S$979 million in the second quarter.

Genting said Resorts World Sentosa (RWS), home to a Universal Studios theme park, contributed about S$731 million to the third-quarter revenue.

It added that the integrated resort has seen strong demand since it opened in the first quarter of this year.

Going forward, Genting said RWS is well on track to meeting its 2010 visitor target. - By Travis Teo
- CNA/ir