Genting Singapore rolls out new attractions as Middle East tensions weigh on earnings
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Resorts World Sentosa is stepping up efforts to refresh its attractions and broaden revenue streams as the conflict drives up costs and weighs on travel demand and consumer sentiment.
ST PHOTO: JASON QUAH
- Genting Singapore's RWS Q1 net profit fell 55% to S$65.2m due to high costs from conflict and dampened travel demand affecting tourist spending.
- Despite year-on-year drops, RWS showed sequential improvement from Q4 2025, with revenue up 3% and net profit increasing 7%, driven by non-gaming revenue.
- RWS is investing in new attractions, dining, and hotel upgrades as part of its S$6.8 billion RWS 2.0 project to broaden revenue and enhance visitor experience.
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SINGAPORE – More businesses in Singapore are starting to feel the pinch of the conflict between Iran and the US and the ensuing disruption to shipping through the Strait of Hormuz, a key global energy and trade chokepoint.
Resorts World Sentosa (RWS) is stepping up efforts to refresh its attractions and broaden revenue streams as the conflict drives up costs and weighs on travel demand and consumer sentiment.
In its first-quarter results update on May 12, Genting Singapore, which operates RWS, said the ongoing conflict has pushed up energy, freight and logistics costs across supply chains, while higher airfares have dampened travel demand and tourist spending at RWS.
To counter the dip, RWS is rolling out new attractions, dining concepts and promotional events aimed at drawing repeat visitors, including local patrons.
Recent additions include the opening of BODHI Spa at The Laurus hotel, QUAN Hotpot restaurant and new tenants such as People People Brewing Co. The resort has also introduced attraction season passes to encourage repeat visits.
Since 2019, Genting Singapore has invested billions in RWS 2.0, an ambitious $6.8 billion project undertaken to increase the integrated resort’s gross floor area by 50 per cent through new attractions, luxury hotels and lifestyle developments.
In 2025, RWS completed and opened several major attractions aimed at strengthening its non-gaming appeal, including permanent attractions like Minion Land at Universal Studios Singapore (USS) and the Singapore Oceanarium.
It also launched Weave, a new lifestyle mall housing more than 40 retail and dining concepts, including French macaron sensation Pierre Herme Paris’ first South-east Asian store.
In its update, Genting Singapore said it will continue to invest in hotel upgrades, new concepts, amenities and technology at RWS to improve operational efficiency and visitor experience.
Against this backdrop, Genting Singapore posted a 55 per cent fall in net profit to $65.2 million for the first quarter ended March 31 compared with the same period in 2025, while revenue slipped 3 per cent to $607.6 million.
Gaming revenue fell, but non-gaming revenue rose, supported by higher visits to attractions such as USS and the Singapore Oceanarium.
Still, RWS did better in the first quarter of 2026, compared to the previous October-December quarter, with net profit rising 7 per cent over the period from $61 million and revenue rising 3 per cent from $587.7 million.
Shares of Genting Singapore closed on May 12 at 69 cents, up 1.47 per cent.
