Genting's new Singapore casino helps lift second quarter profit
The Singapore casino, Resorts World at Sentosa, recorded revenue of us$ 631.9 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of us$369.6 million for the second quarter.
The Universal Studio Singapore theme park, which is part of Resorts World, increased its daily maximum capacity to about 8,000 with an average visitor spend of us$ 61.6, said Genting, a unit of Malaysia's Genting, in a filing to the Singapore Exchange. Occupancy at Resorts World's hotels was 70 % for the period with an average room rate of us$ 193 a night, the firm added.
Singapore legalised casinos in 2005 and allowed the building of two multi-billion-dollar casino-resorts as part of a plan to double visitor arrivals to 17 million by 2015. The city-state's second casino, Las Vegas Sands' Marina Bay Sands, opened in April this year.
Visitor arrivals in Singapore have hit successive monthly record highs since the start of the year, breaching the 1 million a month mark for the first time in history in July.
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