Genting Singapore Profit Drops as Cost Pressures Weigh on 1Q26 Results

According to Genting Singapore Ltd., the first-quarter profit for the financial year 2026 fell sharply compared with its performance in the same period last year by 55%, totaling around SGD65.2 million (US$51.2 million). This decline in profit was witnessed against a backdrop of a slight drop in revenues by 3% to SGD607.6 million.

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The operator of Resorts World Sentosa had also shown the adjusted EBITDA of almost SGD179.0 million, which represents a reduction of 24.1% from the year-ago quarter. In the past three months ended 31 March, the gaming revenue and non-gaming revenue have exhibited contrasting trends because they face different challenges and support.

Gaming And Non-Gaming Mix

Gaming revenue fell 7.8% year-on-year to nearly SGD403.4 million. By contrast, non-gaming revenue rose 8.3% to SGD204.1 million, helped by higher visitation to key attractions at Resorts World Sentosa. Genting Singapore said those attractions included Universal Studios Singapore and the Singapore Oceanarium.

As stated in their report, the company made some headway in the quarter, and there was an acceleration in gaming revenues towards the latter part of the quarter. This suggests that although the gaming sector continued facing difficulties, the entire resort had enough visitors to ensure revenues from non-gaming operations.

Resorts World Sentosa is one of the two casino facilities in Singapore and is the largest asset of the company. The company is a subsidiary of the Malaysian company, Genting Bhd.

Cost Pressures Increase

According to Genting Singapore, due to the existing tensions in the Middle East and other geopolitical issues, additional expenses have been emerging in all the supply chains. Such expenses include higher prices for energy, shipping, logistics services, and higher costs of airfares, which also affect travel demand negatively and consumer sentiment.

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Nevertheless, as the company claims, it is currently working hard to overcome those challenges and create such conditions that would enable it to explore new opportunities and implement corresponding measures through programming and marketing. In addition, the company indicated that the focus on optimization of assets and creation of guest experiences through promotion, new season events, and fresh lifestyle, as well as dining ideas, are among their goals.

The cost commentary came alongside the weaker quarterly earnings and helps explain part of the pressure on profitability. Even as revenue held above SGD600 million, higher expenses and softer gaming income weighed on the final result.

Resort Upgrades Continue

About SGD6.80 billion is needed by Genting Singapore to make improvements in Resorts World Sentosa. The company has already introduced revamped attractions and new assets at the property, including the launch of The Laurus hotel in October last year.

The quarter’s figures sit against the backdrop of a wider transformation plan at the resort. The company is trying to enhance its property portfolio and diversify it, where there is an interplay of gaming and non-gaming activities.

According to Lim Kok Thay, the executive chairman and acting CEO of Genting Singapore, the company has become well-placed to attract more guests in 2026. He believes that this is due to the diversification of its offerings.

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Source: GGR Asia