Genting Singapore, operator of Singapore’s Resorts World Sentosa (RWS), has pointed to the broad impact of the Middle East conflict for increasing costs and reducing travel demand after reporting a 55% year-on-year decrease in net profit to SG$65.2 million (US$51.2 million) in the three months to 31 March 2025.
Adjusted EBITDA was also down 24% to SG$179.0 million (US$141 million) despite revenue falling only 3% to SG$607.6 million (US$478 million). This included an 8% year-on-year fall in gaming revenue to SG$403.4 million (US$317 million) versus an 8% increase in non-gaming revenue to SG$204.1 million (US$160 million).
In its 1Q26 results announcement, Genting Singapore said RWS showed improving momentum in its gaming segment towards the end of the quarter, while non-gaming revenue was supported by higher visitation to key attractions including Universal Studios Singapore and the Singapore Oceanarium.
However, the Middle East conflict and geopolitical developments “have increased cost pressures across supply chains, including higher energy, freight and logistics expenses, while elevated airfares are weighing on travel demand and dampening consumer sentiments.”
In response, the company said it is “proactively addressing these challenges while also seeking to capture opportunities through targeted programming and market-focused initiatives.
“The Group remains focused on asset optimization to enhance guest experience and broaden revenue streams [and] will invest in additional new concepts, hotel and asset enhancements, amenities and technological applications. Management continues to focus on enterprise-wide integration to strengthen operational coherence, enhance organizational stability and unlock synergies.”
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