HOTELS & TOURISM | Staff Reporter, Singapore

Genting faces steepest profit cut in six years as VIP debts sour

Net profit might tumble to $143m.

Resort and casino operator Genting Singapore is at risk of reporting its worst quarter since the financial crisis as unpaid gambling debts mount, according to a report by Bloomberg.

Citing a report by Deutche Bank, the report said that Genting's full-year net profit might tumble 72% to $143 million in 2015, missing consensus estimates by half. Debt provisions might eat up Genting's profits, Deutsche Bank warned.

Read the full report here



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