Genting Singapore Limited has cited ongoing enhancement works at Resorts World Sentosa and a lower win rate on the resort’s gaming floor for a 17% year-on-year decline in Adjusted EBITDA in 2025, with net profit also down 33% compared with FY24.
Releasing its 2025 financial results late Tuesday, the company revealed a 3% year-on-year decline in group-wide revenue to SG$2.45 billion (US$1.93 billion), with gaming revenue down 6% to SG$1.60 billion (US$1.26 billion) while non-gaming revenue grew by 3% to SG$847.8 million (US$669 million).
Adjusted EBITDA of SG$815.8 million (US$644 million) was down 17% while net profit fell 33% to SG$390.3 million (US$308 million).
For the six months period to 31 December 2025, total revenue grew by 5% year-on-year to SG$1.24 billion (US$979 million) including a 2% increase in gaming revenue to SG$764.1 million (US$603 million).
Adjusted EBITDA in 2H25 was up 1% to SG$392.1 million (US$310 million) but net profit fell 30% to SG$155.6 million (US$123 million).
Genting Singapore said its 2025 results reflect the impact of “asset enhancement works” at Resorts World Sentosa but also the gradual improvement in operating momentum as refreshed offerings across the resort were phased into operations.
Gaming revenue, the company added, was impacted by a lower win rate while non-gaming revenue strengthened in the second half of the year as RWS opened new and refreshed attractions and hospitality.
According to RWS, FY25 marked an important “transition year” as the group progresses its ongoing repositioning of RWS as an “experience-based integrated resort destination”.
“2025 was a defining transition year as we advanced a major phase of our asset refresh at RWS,” said Genting Singapore’s Chairman and Acting CEO, Lim Kok Thay.
“These investments reflect our long-term commitment to enhancing our competitiveness and elevating the guest experience. We have also reinforced our management bench with several key appointments, adding depth and energy at a pivotal stage of transformation.
“While the team is newly formed and will progressively build collective rhythm, I am confident in its ability to execute with discipline and realise the full potential of RWS 2.0.”
Genting Singapore also declared a final dividend of SG$0.02 per share, equivalent to the previously announced interim dividend and taking total dividends for the year to SG$0.04 per share.
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