VIPs lift Genting Singapore Q1 2018 net profit to $162.3M

Net profit of casino operator Genting Singapore Plc accelerated by almost 20 percent in the first quarter of 2018 as high rollers return to Singapore.

In its filing with the Singapore Stock Exchange, Genting Singapore said its net profit for the first three months of the year was at SGD217.2 million (US$162.3 million), up 19.9 percent from SGD181.1 million (US$129 million) in the same period in 2017.

Excluding the SGD96.3 million ($68.69 million) one-off gain from the disposal of the group’s investment in South Korea in Q1 2017, Genting’s net profit jump in Q1 2018 was 91 percent.

Revenue of Genting Singapore, which operates Singapore casino complex Resorts World Sentosa (RWS), rose 15.1 percent to SGD675.1 million ($505.54 million) in the three months ending March 2018, while

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