Genting Singapore’s Q3 earnings surges to $77.1M

Resorts World Sentosa casino operator Genting Singapore Plc. saw its earnings grew more than twofold during the third quarter of 2016.

In a filing before the Singapore Stock Exchange on Thursday, Genting Singapore’s net profit for the July to September 2016 period zoomed to SGD106.9 million (US$77.1 million) compared with the SGD37.2 million (US$26.85 million) in the same period a year ago.

The casino operator also announced that its net profit during the January 1 to September 30, 2016 period rose by 29 percent to $107.2 million (US$ 77.36 million), while revenue fell 10 per cent to SGD1.67 billion (US$ 1.21 billion).

Genting Singapore attributed its solid third quarter performance on its “ongoing commitment to focus on better margin business and managing operational efficiency for better margins.”