Genting Singapore G13 has reported net profit after taxation (NPAT) of $216.3 million for its 3QFY2023 ended Sept 30, up 59% y-o-y, compared to its NPAT of $135.8 million in the same period last year.
The company posted revenue of $689.9 million for the quarter, up 33% y-o-y. Gaming revenue accounted for $459.6 million, versus $382.0 million in 3QFY2022. Non-gaming revenue came in at $230.1 million, up 68% over $137.3 million in the corresponding period last year.
The company also announced the approval of a total investment of some $6.8 billion, including amounts which have already been spent and the remainder to be invested over the next eight years.
Genting Singapore’s Waterfront development has received the government’s provisional permission with construction set to commence in 2024. The Waterfront development comprises approximately 700 hotel keys and experiential lifestyle facilities, with biophilic architecture designed by award winning firm Benoy.
“We are confident that this investment will firmly anchor Resorts World Sentosa (RWS) as the most sought-after tourism destination in Asia, and propel the group’s strong future growth. This investment will be funded through internal resources,” it says.
Genting Singapore shares closed 1.5 cents or 1.71% down at 86 cents on Nov 10.
