Genting Singapore FY18 profits jumped 10% to $755.39m

Its average daily visitation reached over 21,000 in Q4.

Genting Singapore ended 2018 on a high note when its profits rose 10% YoY to $755.39m from $685.56m, an announcement revealed. Revenue also edged up 6% YoY from $2.39b to $2.54b.

In Q4, profits grew 12% YoY to $150.18m from $133.99m in 2017, whilst revenue jumped 15% YoY from $580.06m to $664.77m, its financial statement noted.

The firm attributed its strong performance to growth in its gaming segment which recorded a 6% YoY revenue increase from $1.59b to $1.69b in FY18, whilst its non-gaming segments witnessed a 7% YoY growth in revenue to $857.69m from $801.54m.

Also read: Eyes on the prize: Singapore's gaming operators brace for Japan bid in 2019

In Q4 specifically, the firm witnessed an average daily visitation of over 21,000 and an increase in average visitor spending across its offerings. Its hotels business reportedly outperformed the industry with an occupancy rate of 95%.

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