HOTELS & TOURISM | Staff Reporter, Singapore

Genting sinks into the red as VIP players vanish

It posted a net loss of $7.8m in Q4.

Resort and casino operator Genting Singapore dipped into the red in the fourth quarter, posting a loss of $7.8m compared to a profit of $89.2m in the same period last year.

The group, which operates Resorts World Sentosa, continued to be impacted by the steep decline in arrivals of high-rolling Chinese gamblers.

“2015 has been a challenging year for the Asian gaming industry. Gaming revenue was impacted by a lower VIP gaming market as we continue to tighten our credit policies,” Genting said in its earnings statement.

The group’s full-year net profit dropped 85% to $75.2 million.

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