SINGAPORE: Casino operator Genting Singapore's fourth quarter net profit fell 38 per cent to S$162.2 million, due mainly to one-time property write-offs.
Its adjusted earnings before interest, tax, depreciation and amortization slipped 6 per cent to S$369.3 million.
The group reported a revenue of S$792 million in the October to December period, up from S$786 million from a year ago.
Gaming revenue from Resorts World Sentosa fell 3 per cent to S$627 million.
The casino operator is fighting a slowing market and tighter local regulations.
In a filing with the Singapore Exchange, Genting Singapore warned that margins will be under pressure for the first half of this year.
But the group said the global economic outlook appears more positive this year and it remains cautiously optimistic of its performance.
- CNA/al
Genting Singapore's Q4 net profit drops 38%
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Genting Singapore's Q4 net profit drops 38%
