Genting Singapore, the operator of Resorts World Sentosa, reported net profit of SG$156.1 million ($122 million) for the six months ended 30 June, down from SG$234.7 million ($183 million) a year earlier. The company attributed the one-third drop to a 25% rise in depreciation to SG$200.6 million, a 55% fall in interest income to SG$22.8 million, and ongoing asset renewal works.
Group revenue slipped 1% to SG$1.20 billion ($939 million), while adjusted EBITDA fell 8% to SG$389.8 million ($304 million). Gaming revenue declined 4% to SG$804.4 million ($627 million), but non-gaming rose 6% to SG$398.8 million ($311 million). Within non-gaming, attractions brought in SG$208.1 million, hotels SG$107.3 million, and other revenue SG$73.1 million.
Genting Singapore cited weak demand in the second quarter, lower tourist arrivals and cautious consumer spending. Geopolitical uncertainty and high transport costs continue to weigh on the market. Despite the opening of several RWS 2.0 projects — Singapore Oceanarium, the WEAVE zone, The Laurus hotel and Minion Land — the resort's EBITDA dropped 11% to SG$399.5 million.
Second-quarter performance improved: RWS EBITDA reached SG$210.8 million, up 12% year-on-year and 18% quarter-on-quarter. The board approved an interim dividend of SG$0.02 per share, unchanged from 2025, payable 22 September. Chairman and acting CEO Lim Kok Thay said the resort has entered a new chapter with 'an energetic team and a clear transformation roadmap'. RWS 2.0 is scheduled for completion in 2030.
