- Genting Singapore reported another set of weak quarterly results, which missed both ours and Bloomberg consensus’ expectations.
1Q26 results weaker-than-expected.
- - Read this at SGinvestors.io -
- Genting Singapore’s non-gaming revenue was up 8.3% y-o-y, due to higher visitation to key attractions such as Universal Studios Singapore and the Singapore Oceanarium at Resorts World Sentosa.
- Adjusted EBITDA and net profit declined 24.1% and 55.0% y-o-y to S$179.0m and S$65.2m respectively, driven by higher operating costs related to IT infrastructure system upgrades, as well as increased marketing and promotional expenses.
Prolonged Middle East tensions could weigh on travel demand.
- - Read this at SGinvestors.io -
- Second-order effects from the Middle East tensions may take time to materialise and remain difficult to quantify. Higher airfares and a more cautious consumer sentiment could weigh on spending on travel, hotels, attractions, and food and beverage. This could pose a near-term headwind for Genting Singapore, potentially disrupting the ramp-up of its new attractions and hospitality assets.
More patience required.
- Read more at SGinvestors.io.
