All work and no play makes Genting Singapore a dull stockAnalysts are rather muted on Genting Singapore (GENS) following its disappointing, but not surprising, results announcement on Aug 6.

Aquarium, Adventure Cove Waterpark and Dolphin Island.As such, gaming revenue plummeted 99% from SgD$441.1m to SgD$6.5m, while non-gaming revenue was also down 92% from SgD$195.0m to SgD$16.3m.However, Genting was slightly boosted with revenue from outside of Singapore Integrated Resorts operations, with revenue from its investment business and other hospitality and support services rocketing from SgD$604,000 to SgD$18.5m.Genting did not go into detail on its expenses and costs for the quarter, but it did state that due to the overall revenue decline, it posted an adjusted loss before interest, tax, depreciation and amortisation (LBITDA) of SgD$84.9m, compared to SgD$294.4m in earnings last year.When accounting for net exchange losses relating to investments, share-based payment and other expenses, LBITDA amounted to S$131.8m, a big drop from S$296.8m in earnings in Q2 of 2019.As such, Genting ended the quarter with a net loss of SgD$163.3m, compared to a net profit of SgD$168.4m at the same point last year.“At the onset of the pandemic, visitor arrivals dropped very significantly from February 2020," Genting Singapore explained.

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The Genting Singapore arm of Malaysian conglomerate Genting Group has reported a net loss of SgD$163.3m (£90.6m/€100.7m/$119.2m) for the second quarter of 2020, following a sharp drop in revenue as its properties were closed amid the novel coronavirus (Covid-19) pandemic.Revenue for the three months to 30 June amounted to SgD$41.3m, down 94% from SgD$636.8m in the same period last year.Genting Singapore was forced to close all casino and attractions in its Singapore Integrated Resorts portfolio for almost the entire quarter, with all land-based locations shut between 6 April and 30 June. GENTING SINGAPORE LIMITED (G13.SI) Latest News on Genting Sing | SGX Listed Companies @ SG investors.io ... GENTING SINGAPORE LIMITED (G13.SI) News; GENTING SINGAPORE LIMITED (G13.SI) Bloggers Say ... G13) Latest News. Hot stock: Genting Singapore falls 4.9% after posting S$163.3m Q2 loss Uploaded By:  The group said it suff... Genting Singapore posts S$163.3m Q2 loss in worst quarterly showing since 2010 Its Q2 numbers reverse a S$168.4 million net profit from a year ago and a S$46.6 million net profit from Q1 t... Genting Singapore posts net loss of $163.3 mil in 2Q20, marks 'worst quarterly performance' since openingDue to the significant drop in visitor arrivals from February this year amid the Covid-19 pandemic, as well as the temporary closure of its casino and attractions during the circuit breaker period, Genting Singapore (GENS) suffered from a steep drop in its revenue across all segments. However, a slow recovery is expected with impediments on international travel into Singapore and reduced gaming capacity. Covid-19. Genting Singapore logged a S$163.3 million net loss for the second quarter ended June, reversing from a S$168.4 million net profit a year ago. Source of the report is credited at the end of article whenever reference is made. The Genting Singapore arm of Malaysian conglomerate Genting Group has reported a net loss of SgD$163.3m (£90.6m/€100.7m/$119.2m) for the second quarter of 2020, following a sharp drop in revenue as its properties were closed amid the novel coronavirus (Covid-19) pandemic. Genting Singapore (SGX:G13)'s 2Q20 losses were in line with expectations.

IN ITS worst quarterly showing since the opening of its Singapore integrated resorts (IRs) a decade ago, Genting Singapore logged a S$163.3 million net loss for Q2 FY2020 ended June. Due to the temporary closure during the Circuit Breaker (CB) period, 2Q20 revenue plunged 94% y-o-y to SGD41m. GENS recorded its worst quarterly performance since opening, as it posted a net loss of $163.3 million in 2Q20, compared to a profit of $168.4 million in 2Q19. Things To Eat. SHARES of Genting Singapore tumbled 4.9 per cent on Friday, after the resort operator on Thursday posted its worst quarterly performance since Resort World Sentosa's (RWS) opening in 2010. ... 19 June 2020 - 30 June 2020 Singapore . As a result, adjusted EBITDA went into the red at -SGD85m, and the group reported a loss of SGD163m. Case Study:  “Despite the swift implementation of a series of cost containment measures including payroll rationalisation as well as other productivity initiatives, the impact of suffering almost zero revenue during the temporary closure period in the second quarter 2020 was devastating.”Though properties have started to reopen in Singapore in recent weeks, Genting said it remains “pessimistic” on its overall financial performance for the rest of the year, as global travel remains highly restricted. Stock analysis research and articles on this site are for the purpose of information sharing and do not serve as recommendation of any transactions. Trending.