Genting Singapore Ltd (SGX: G13) is involved in the development, management and operation of integrated resorts including gaming, hospitality, MICE (Meetings, Incentives, Conventions and Exhibitions), leisure and entertainment facilities.

The group’s key asset is Resorts World Sentosa (“RWS”) in Singapore, which it owns. RWS is one of the largest integrated resort destinations in Asia, offering a casino, SEA aquarium, Adventure Cove Waterpark, Universal Studios Singapore (USS) theme park, MICE facilities and specialty retail outlets.

Growth of the Business

Source: Genting Singapore’s Earnings Releases, Author’s Compilation

Genting’s revenue has fluctuated over the years and hit a peak 5 years ago at S$2.86 billion. This is due, in part, to the number of visitors to RWS in different years, with variability in the numbers being attributed to the number of tourists and visitors using various attractions.

Genting Singapore has two main segments — gaming, and non-gaming. Gaming takes up the