Genting Singapore Reports Lower 1H Revenue as Gaming Segment Slips

Genting Singapore, the operator of Resorts World Sentosa, reported a 1% year-on-year decline in group-wide revenue for the first 6 months of 2026. Revenue reached SG$1.20 billion, equivalent to US$937 million, as lower gaming income offset part of the growth recorded by the company’s non-gaming operations.

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The company said gaming revenue declined 4% during the period, while non-gaming revenue increased 6%. The results were released late Thursday and covered the 6 months ended June 30, 2026.

Gaming Revenue Falls During 1H26

Gambling revenues were recorded at SG$804.4 million (US$628 million) for the first half. According to the earlier information, gambling revenues in the June quarter remained stable compared to the March quarter, recorded at around SG$401 million (US$313 million).

Revenues other than gambling revenues amounted to SG$398.8 million (US$311 million) for the first half. The number reflected a close to 5% sequential drop in the June quarter, even though the revenues grew by 6% y/y in 1H.

The results show that the company’s overall revenue performance was influenced by different movements across the 2 segments. Gaming remained the larger source of revenue, but its decline affected the group-wide result as non-gaming growth provided only a partial offset.

EBITDA Improves In 2Q

EBITDA on an adjusted basis for the first 6 months was SG$389.8 million or US$304 million, marking a decline by 8% from the corresponding period last year. On the other hand, for the 2Q, adjusted EBITDA increased to SG$210.8 million or US$165 million for Genting Singapore.

For the 2Q, adjusted EBITDA increased by 18% on a quarter-over-quarter basis and 12% on a year-over-year basis despite an increase in the adjusted EBITDA overall.

Net profit stood at SG$156.1 million, or US$122 million. Genting Singapore said profit was affected by higher depreciation, lower interest income, and works connected to the Resorts World Sentosa 2.0 asset refresh.

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RWS 2.0 Work Continues

The transformation of Resorts World Sentosa is expected to continue in the coming years. Refreshed facilities are being introduced progressively, with the wider project scheduled for completion in 2030.

The redevelopment is being carried out alongside the Singapore government’s timeline to improve connectivity and expand the overall offerings under the Greater Sentosa Master Plan. Genting Singapore chairman and acting chief executive Lim Kok Thay said Resorts World Sentosa had entered a new phase.

He said that the company now had a committed leadership team and a transformation roadmap focused on creating a dynamic resort with entertainment and experiences for guests, while building long-term value for shareholders.

Interim Dividend Declared

Genting Singapore’s board declared an interim dividend of SG$2.0 cents per ordinary share for the 6 months ended June 30, 2026. The company said the payment was consistent with its commitment to stable and sustainable shareholder returns during the RWS 2.0 redevelopment period.

In connection with this announcement of dividends, the company is undertaking the process of replacing its assets, dealing with a mixed performance. Revenue has reduced, gaming income has decreased, and first-half adjusted EBITDA has been lower, while 2Q EBITDA has performed well with year-on-year growth in non-gaming revenues.

Genting Singapore is set to continue with the replacement of facilities in Resorts World Sentosa in preparation for its completion in 2030.

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Source: Inside Asian Gaming