Genting Singapore's revenue for its 1QFY2026 ended March was down just 3% y-o-y to $607.6 million, but earnings in the same quarter plunged by 55% to $65.2 million, on higher costs.
While its gaming revenue was down 8% in the quarter to $403.4 million, Genting Singapore says that there has been "improving momentum" towards the end of the period. On the other hand, non-gaming revenue was up 8% to $204 million, driven by higher visitor numbers to its attractions.
"The ongoing conflict in the Middle East and current geopolitical developments have increased cost pressures across supply chains, including higher energy, freight and logistics expenses, while elevated airfares are weighing on travel demand and dampening consumer sentiments," says Genting Singapore.
The company says it remains focused on "asset optimisation" that includes a refreshed line up lifestyle and dining offerings so as to drive repeat visitors, and will continue to invest.
Genting Singapore shares closed at 69 cents on May 12, up 1.47%.
