Genting Singapore Ltd has reported a sharp 55% decline in Q1 net profit for the 2026 financial year, totaling SGD 65.2 million (US$ 51.2 million).
This significant drop in profitability occurred alongside a 3% dip in overall revenue, which fell to SGD 607.6 million, as the operator of Resorts World Sentosa (RWS) navigated a challenging global economic climate.
Contrasting Trends in Revenue Streams
The quarter’s results highlighted a divergence between gaming and non-gaming performance. Gaming revenue saw a 7.8% year-on-year contraction, falling to nearly SGD 403.4 million. Conversely, non-gaming revenue increased by 8.3% to SGD 204.1 million, bolstered by strong visitation to attractions such as Universal Studios Singapore and the Singapore Oceanarium.
Management noted that while the gaming sector faced friction, there was a visible acceleration in gaming revenues toward the end of the quarter. However, adjusted EBITDA still registered a 24.1% reduction from the previous year, landing at SGD 179.0 million.
Geopolitical Headwinds and Resort Upgrades
Genting attributed much of the margin compression to heightened supply chain expenses sparked by tensions in the Middle East. Rising costs for energy, shipping, airfare, and logistics have not only increased operational overhead but have also begun to dampen consumer travel sentiment.
Despite these pressures in Q1, Genting Singapore is moving forward with a massive SGD 6.80 billion transformation plan for RWS. This includes the recent launch of The Laurus hotel and ongoing renovations across the property portfolio.
Lim Kok Thay, Executive Chairman and Acting CEO, remains confident in the resort’s long-term trajectory:
Genting Singapore has become well-placed to attract more guests in 2026… due to the diversification of its offerings.
