SINGAPORE - Genting Singapore's ebitda plunged 24 per cent from a year ago to $190.2 million for the fourth quarter, while revenues slipped 8 per cent to $637.9 million, due to its underperforming premium player business.

The casino operator said its premium player business was hit by a "significant below average win percentage and (VIP) rolling volume.

Bad debt provisions for the fourth quarter swelled to nearly $82 million from $57.5 million a year ago; and jumped to $262 million for full year 2014 from nearly $185 million a year ago.

Meanwhile, its net profit fell 36 per cent from a year ago to $89.2 million for the fourth quarter. Earnings per share for the quarter was 0.73 cent, down from 1.15 cents a year earlier, while net asset value was 61.1 cents, compared to 60 cents as at Dec 31, 2013.

The group proposed a final dividend of one cent a share.

Gaming revenue at Genting slipped 9 per cent in the fourth quarter to $461.3 million from a year ago.

Genting's rival, Marina Bay Sands, raked in ebitda of US$518.5 million for the fourth quarter, more than double from a year earlier, while revenue jumped 27 per cent to US$838.6 million, on the back of casino revenue increasing 34 per cent to US$674.4 million.

Genting's non-gaming revenues fell 4 per cent to $176 million, while its hotel business saw a 93 per cent occupancy with average daily room rate at $422.