Genting Singapore's third quarter net profit sinks to S$37.2m, with lower gaming revenue

People walk past a logo of Genting Singapore's Resorts World Sentosa in Singapore.
People walk past a logo of Genting Singapore's Resorts World Sentosa in Singapore.PHOTO: REUTERS

SINGAPORE - Genting Singapore's third quarter profit to ordinary shareholders sank to S$37.2 million, from net profit of S$97.4 million a year ago.

Gaming revenue fell 5 per cent to S$451.8 million as a result of a lower premium business volume.

"During the quarter, the group recorded a favourable foreign exchange gain of S$113 million, which was offset by fair value loss from the Group's portfolio investments. As of 30 September 2015, this portfolio has been reduced significantly by 50 per cent," Genting Singapore said.

Revenue dipped 1 per cent to S$636.1 million from S$644.8 million.

The casino operator reported earnings per share of 0.31 cents from 0.80 cents. No dividend was declared for the period.