Genting Singapore net profit down 5% to $578.9m in FY2024

Revenue rose 5% to over $2.5b.

Genting Singapore posted a net profit of $578.9m for FY2024, a 5% decline from the previous year.

Despite the decrease in net profit, the group reported a strong performance across both gaming and non-gaming sectors. Revenue for FY2024 surpassed $2.5b, a 5% increase compared to the previous year and exceeding pre-pandemic levels.

However, rising costs and inflationary pressures posed challenges, leading to a 6% drop in the group’s adjusted earnings before interest, tax, depreciation, and amortisation (Adjusted EBITDA), which stood at $960.1m.