Genting Singapore reported a 42% year-on-year decline in net profit to SG$54.7m for the third quarter ended September 30, 2026, as weaker premium gaming activity affected performance at Resorts World Sentosa (RWS).
Group revenue fell 13% to SG$566.1m, compared with SG$649.8m a year earlier, while adjusted EBITDA declined 27% to SG$161.8m.
The results also represented a sequential decline, with revenue falling 5% and adjusted EBITDA dropping 23% from the second quarter. Profit before tax decreased 40% year-on-year to SG$76m.
Genting Singapore Q3 Comparison (SG$ M)
What drove Genting Singapore's gaming revenue decline?
Gaming revenue decreased 22% year-on-year to SG$315m, compared with SG$402.3m in the corresponding period of 2025.
The operator attributed the weaker performance to softer premium gaming demand across regional markets, compounded by an unfavorable rolling win rate in September.
On a normalized rolling hold basis, adjusted EBITDA would have been approximately SG$36m higher, indicating the impact of gaming hold volatility on quarterly earnings.
Non-gaming revenue, meanwhile, increased 1% year-on-year to SG$250.9m, despite reduced hotel room availability during ongoing renovation works.
Compared with the previous quarter, non-gaming revenue rose 29%, providing some support as casino revenue weakened.
Despite the improvement in non-gaming revenue, profitability remained under pressure. The Singapore IR segment recorded earnings of SG$168.1m, down 27% year-on-year and 23% quarter-on-quarter. Meanwhile, net interest income fell 37% to SG$11.3m, adding to the decline in overall earnings.
Resort upgrades to constrain capacity through 2027
Genting Singapore continues to reposition RWS through a multi-year transformation program involving hotel upgrades, gaming areas, lounges, dining outlets and guest spaces.
The company said renovation and redevelopment activities would temporarily constrain operating capacity through 2027, potentially affecting near-term performance.
Its premium customer strategy includes strengthening marketing and business development capabilities alongside new attractions and lifestyle offerings at WEAVE.
The quarterly results follow a relatively stable first half, when Genting Singapore generated SG$1.20bn in revenue, supported by stronger non-gaming contributions despite softer casino performance.
During that period, gaming revenue declined 4% to SG$804.4m, while non-gaming revenue increased 6% to SG$398.8m.
What is the outlook for Singapore's casino market?
The broader operating environment also reflects changing gambling participation patterns in Singapore.
According to the Gambling Regulatory Authority's 2025/26 annual report, approximately 91,000 Singapore citizens and permanent residents visited local casinos in 2025, down from 94,000 in 2024.
The figure represented 2.7% of Singapore's adult population, compared with 2.8% a year earlier.
Looking ahead, Genting Singapore said it would focus on capturing year-end travel and festive demand while continuing its resort-wide renewal.
The company expects its investments in hospitality and entertainment infrastructure to strengthen RWS' longer-term competitiveness, although construction-related capacity constraints will remain a factor throughout 2027.
Singapore's local casino visitation fell 3.2% in 2025, marking a third consecutive annual decline
