Genting Singapore reports 3QFY2021 earnings of $60.7 million, up 11% y-o-y

The company, which operates Resorts World Sentosa, saw a 9% y-o-y drop in gaming revenue to $194.7 million.

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In recent weeks, the tourism and hospitality industry is cheered by the implementation of more so-called “vaccinated travel lanes”.

Genting Singapore calls this development a “significant milestone”.

However, it expects only a “minimal” increase in overseas visitors footfalls. It points out that its traditional large sources of visitors are not yet in the list of countries that can enjoy VTL.

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“At the same time, there may be an impact on the IR’s visitorship from an outflow of the local population to these countries due to the pent-up demand for international travel,” it cautions.

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Genting Singapore closed Nov 9 at 82 cents, up 0.62% for the day and down 5.23% year to date.