By P.R. Venkat
Genting Singapore Ltd.'s third-quarter net profit fell 66% on year as the casino operator continued to face weak demand due to the Covid-19 pandemic.
Net profit was at 54.45 million Singapore dollars (US$40.40 million), Genting said late Saturday. Revenue from its gaming operations were down 41% on year to S$212.92 million.
Compared to the second quarter, Genting's financial performance improved, as authorities in the city-state started easing some of the pandemic curbs.
In the second quarter, Genting posted S$163.3 million loss.
"Looking ahead, the group's growth strategy includes our commitment to develop the S$4.5 billion mega expansion in Singapore," Genting said.
Write to P.R. Venkat at email@example.com
(END) Dow Jones Newswires