Revenues for the second quarter of 2015 at Genting Singapore were down significantly on the previous year, due to the downturn in the gambling industry in Asia, reports the company.

Revenue was S$578.1m, down 23 per cent from S$751m. A loss per share of 0.14 cents from 0.84 cents has resulted in no dividend being declared for the period. The net loss was S$16.9m from a net profit of S$102.3m a year ago. 

The company said in a statement: “The group’s net profit for the quarter was also affected by fair value loss from our portfolio investments that is related to unfavourable market conditions in the gaming industry. As of this quarter, this portfolio has been significantly reduced, with realised net gains over the lifetime of these investments.”