SINGAPORE -- Discontinued casino operations in the UK hampered Q4 earnings of Genting Singapore.
The firm reported a fourth quarter net loss of 48% or US$ 117.55 million due to an impairment charge it took after halting its UK-facing casino operations.
Genting however reported a full-year net profit of US$ 29.56 million for 2010 as compared to a US$ 217.08 million loss it reported for 2009.
The company reported a full-year revenue of US$ 2.15 billion, up 56% over 2009 figure when it posted a mere US$ 38.71 million it netted. It attributed the growth to the strong performance of Resorts World Sentosa which opened February last year.
Source: Channel News Asia
Posted: February 23, 2011
