Genting Singapore's Q2 net profit down 22%

The net profit of Genting Singapore, which owns one of casino resort Resorts World Sentosa, came at 131.7 million Singapore dollars (105.4 million U.S. dollars) in the second quarter of 2014, a 22-percent decline year on year, according to the report issued by the company Thursday.
Total revenue up 6 percent to 751 million Singapore dollars ( 601 million U.S. dollars) in the second quarter while the operating profit came in at 176.3 million Singapore dollars (141.0 million U.S. dollars), a 22-percent drop on year.
Revenue from gaming increased 9 percent to 597 million Singapore dollars (477.6 million U.S. dollars), while non-gaming revenue, which includes income from hotels and the Universal Studios theme park, fell by 3 percent year-on-year to 153.6 million Singapore dollars (122.9 million U.S. dollars) .
The hotels at Resorts World Sentosa enjoyed an occupancy rate of 94 percent during the quarter, with rooms being leased out at an average daily rate of 390 Singapore dollars.
Meanwhile, Channel NewsAsia reported Thursday that Las Vegas Sands, owner of Marina Bay Sands in Singapore, reported a 9.5 percent rise in gaming revenue to 646.4 million U.S. dollars from its casino during the same quarter. The occupancy for its hotel was 99.1 percent, while the average room rate was 409 U.S. dollars per night.
Editor