Your Daily Asia Gaming eBrief: Genting Singapore shows strong results in 1H23

Friday 11th of August 2023

Resorts World Sentosa, Genting Singapore

Good Morning. The first half of the year has proved to be a happy merry-go-round for every gaming operator in the block, with Genting Singapore’s adjusted EBITDA and revenue skyrocketing in the first half of 2023. Also basking on an extremely positive 2Q23, Wynn Macau CEO, Craig Billings, touted the group’s performance, stating that some business segments even surpassed 2019 levels. Billing also expressed his anticipation for Wynn Resorts’ first gaming license in the United Arab Emirates.

ASEAN Gaming Summit, asia gaming ebrief, Philippines

What you need to know

Genting Singapore’s adjusted EBITDA jumps 68 percent to SG$452.5 million ($336 million) in 1H23.
Wynn Macau CEO, Craig Billings, touted the group’s performance in 2Q23, stating some business segments even surpassed 2019 levels, while denoting Wynn Resorts’ excitement for a possible UAE gaming license.

On the radar

Galaxy Macau to open world’s largest Andaz Hotel on September 15.
Paradise Co posts $22mln 2Q profit, up 320 pct QoQ.
Entain prepares £585 million ($746.2 million) for possible incoming UK tax authority fine.

AGB Intelligence

SINGAPORE

Recovery in visitation boosts Genting Singapore 1H23 results

A recovery in the volume of foreign visitor arrivals into Singapore has helped Genting Singapore to report a strong 1H23. The gaming group’s adjusted EBITDA rose 68 percent to SG$452.5 million ($336 million), as consolidated revenue rose by 63 percent yearly to SG$1.1 billion ($817 million). The Resorts World Sentosa operator is now focused on expanding the property’s offerings and attractions.