Continuing to benefit from the ongoing recovery of regional travel and gaming demand, Genting Singapore G13 has reported a net profit of $129.2 million for its 1QFY2023 ended March 31, over three-fold of its $40.4 million net profit recorded for the corresponding period last year.
For the first quarter of FY2023, the group reported $484.5 million in revenue, a 54% improvement from 1QFY2022.
For the period, this comprised primarily of $340.0 million in gaming revenue and $144.4 million in non-gaming revenue, which posted y-o-y improvements of 45% and 89% respectively.
Looking ahead, Genting Singapore says it is committed to enhancing RWS’ brand identity as a premium luxury destination that appeals to “trendy and affluent” customers, taking note of its partnership with the first ever LIV Golf event in Singapore.
“To be carried out in two major stages, we will be investing to enhance all our product offerings. The initial stage involves re-inventing and innovating our facilities to upscale RWS’ destination appeal and achieve better demand from our target markets,” says the group.
Shares in Genting Singapore closed 1 cent or 0.89% down at $1.11 on May 12.
