Resorts World Sentosa, Genting Singapore's multi-billion dollar integrated entertainment complex, helped the operator achieve a six-fold increase in revenues.
For the first half of 2010, the group’s revenue increased to S$1,439.7m ($1,055.82m), compared with revenue of S$225.5m in the first half of 2009. Genting attributed this increase to the opening of RWS earlier this year, which contributed 83 per cent to the group’s overall total.
RWS recorded revenue of S$860.8m and EBITDA of S$503.5m during the second quarter of the year. Hotel occupancy at RWS was 70 per cent.
"After the commencement of operations of Resorts World Sentosa, Singapore’s first integrated resort in the first quarter of 2010, all major business segments within the Singapore IR continued to grow and strengthen," Genting said.
The pound sterling’s weakness, meanwhile, saw revenue at the company’s UK casino operations fall three per cent in the second quarter of this year.
Although underlying revenue at its UK casinos in sterling improved six per cent due to higher business volume, it revealed that due to the currency translation to the Singapore dollar, revenue actually dropped to S$104.9m, compared with S$108m in the same period last year.
On July 1, Genting Singapore announced that it had entered into an agreement with its Malaysian-based parent company to sell its UK operations for £340m.
