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Genting Singapore, the company behind Resorts World Sentosa (RWS), reported a 12% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second quarter, reaching SGD210.8 million (about US$165 million). This positive news comes after a challenging first quarter, where analysts did not anticipate significant improvement, particularly due to the impact of the World Cup, which could shift some customers’ spending from gambling to sports betting.<\/p>\n
According to DBS analyst Chee Zheng Feng, Genting Singapore’s second-quarter performance exceeded expectations. He noted that previous operational issues affecting results in the first quarter have been addressed. However, the company continues to face challenges in gaining more market share. Ben Lee, a consultant from IgamiX, expressed concerns, saying, “I see them losing the battle, and even more market share,” adding that they struggle to compete with Marina Bay Sands (MBS), which has attracted high-spending VIP customers.<\/p>\n
In terms of financial performance, Genting Singapore’s profits remain significantly lower than MBS, which reported an adjusted EBITDA of $689 million in the same quarter. Chee remarked that MBS continues to lead in market share, profitability, and premium customer attraction, further widening the gap from RWS.<\/p>\n
Analysts point out that Marina Bay Sands has strengthened its position partly due to its prime city-center location and branding as a high-quality establishment. Lee emphasized that the contrast in service quality further differentiates the two resorts, with MBS being viewed as a luxury destination compared to RWS, which is seen more as a family-friendly vacation spot.<\/p>\n
Citi Research’s George Choi noted that the balance of market share had skewed in favor of MBS, which previously held about two-thirds of the market while Genting Singapore had one-third. He anticipates this trend will continue, with MBS now even more dominant. MBS has also improved its offerings, including room upgrades allowing for higher average nightly rates.<\/p>\n
Both resorts are investing in expansion, with MBS building a new tower, IR2, projected to cost $8 billion and complete in 2030, featuring luxury accommodations and entertainment facilities. Meanwhile, Genting Singapore’s RWS 2.0 project, costing SGD6.8 billion, will also be completed in 2030 and aims to enhance the waterfront experience with new hotels and amenities.<\/p>\n
Looking ahead, both resorts will need to leverage their non-gaming attractions to stand out in a competitive environment. It remains to be seen whether Genting Singapore can close the gap with MBS as these developments unfold.
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Genting Singapore, the company behind Resorts World Sentosa (RWS), reported a 12% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second quarter, reaching SGD210.8 million (about US$165 million). This positive news comes after a challenging first quarter, where analysts did not anticipate significant improvement, particularly due to the impact of the<\/p>\n","protected":false},"author":1,"featured_media":45153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[30],"tags":[59435],"class_list":["post-45152","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-news","tag-genting-singapore-vs-marina-bay-sands-who-leads-the-casino-market-in-worlds-second-richest-country-vnexpress-international"],"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/45152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=45152"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/45152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/45153"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=45152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=45152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=45152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}