Genting Singapore 2019 profits dipped 9% to $688.6m

Its EBITDA fell 3% YoY to $1.19b.

Genting Singapore reported a profit decline of 9% YoY to $688.6m in 2019 from $755.39m in 2018, according to a local bourse filing. Likewise, its revenue slipped 2% YoY to $2.48m from $2.54m in 2018.

Its EBITDA fell 3% YoY to $1.19b. For its Q4 2019 results, profit rose 4% YoY to $155.85m from $150.18m in Q4 2018. This is despite posting revenue decline of 9% YoY to $607.16m from $664.77m.

The group reported that their full voluntary repayment of the outstanding $680m under the $2.27b syndicated senior secured credit facilities in April 2019 yielded costs savings for the group. Higher depreciation costs were recorded compared to the previous year.