- Genting Singapore (SGX:G13)’s 2H25 revenue rose 5.4% y-o-y to S$1.2b, driven by higher contributions from both gaming (2.5% y-o-y) and non-gaming (10.5% y-o-y) segments.
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Another earnings miss.
- Operating costs remained elevated due to a combination of recurring factors and one-off items such as ramp-up costs and higher provision for doubtful debt recognised in 4Q25.
- On a quarterly basis, Genting Singapore’s revenue fell 9.5% q-o-q to S$587.8m in 4Q25, weighed down by both gaming (-10.1% q-o-q) and non-gaming segments (-8.7% q-o-q), reflecting slower-than-expected ramp-up of attractions and lower win rate. Adjusted EBITDA and net profit declined 24.0% and 35.5% q-o-q to S$169.4m and S$61.0m respectively.
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Trim 2026 earnings estimate by 12%.
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