Genting Singapore (G13) H1 2025 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2025 was $1,214.5 million, down 10% year-over-year, with net profit at $234.7 million, a 34% decrease.

• Adjusted EBITDA declined 26% to $423.7 million, reflecting higher costs and transformation-related disruptions.

• The period saw significant progress in the RWS 2.0 transformation, including new attractions and property upgrades.

Financial highlights

• Gaming revenue fell 12% year-over-year to $839.4 million; non-gaming revenue dropped 6% to $374.7 million.

• Gross profit decreased 16% to $406.9 million; operating profit declined 33% to $300.2 million.

• Net cash generated from operating activities was $369.1 million, down from $439.1 million in the prior year.

• Interim dividend of 2 cents per share declared, payable 17 September 2025.

Outlook and guidance

• Management anticipates continued impacts from ongoing RWS 2.0 construction and phased closures.

• Upon full completion by 2030, RWS will offer expanded attractions and refreshed hospitality, targeting experience-driven travelers.