Singapore authorities are investigating the case of a Malaysian truck driver, who tested positive for Covid-19, and who visited Genting Singapore’s Resorts World Sentosa casino.
Truck driver with Covid-19 suspected of visiting casino (Straits Times)
Maybank has cut its earnings forecasts for Genting Singapore by 59 percent this year due to the slower-than-expected recovery and ongoing closures in key markets.
Genting Singapore has reported a 2 percent increase in casino sales from the final quarter of last year, indicating the pent-up demand that had been driving recovery has largely stalled.
Genting Singapore on Thursday announced it has disregarded a resolution which would see an increase to chairman Tan Sri Lim Kok Thay’s performance share scheme (PSS) limit.
Genting Singapore has been asked to explain its executive remuneration policies to the Singapore Stock Exchange after Chairman Tan Sri Lim Kok Thay's pay doubled even though the company reported a 90 percent drop in 2020 profit.
Genting Singapore Executive Chairman Tan Sri Lim Kok Thay said the outlook for the group continues to be challenging due to the Covid crisis, however, the company is excited about its expansion plans in Singapore and Japan.
Genting Singapore announced that Genting Singapore Aviation, the company’s direct wholly-owned subsidiary, incorporated in the Cayman Islands, was placed under voluntary liquidation.
Genting’s Dream Cruises and the Marina Bay Cruise Centre Singapore have welcomed their 100,000th passenger onboard World Dream since the start of “safe pilot cruises” in the city on November 6, 2020.
Genting Singapore posted a profit attributable to shareholders of $68.46 million in 2020 even though revenue fell by 57 percent.
Genting Singapore says it's considering major design changes to the expansion plans for Resorts World Sentosa to take account of new health and safety requirements and the changing dynamics of the VIP market.
Genting Singapore stock has been downgraded to "hold" at Maybank as it was unable to match rival Marina Bay Sands in growing its gross gambling revenue in the most recent quarter.