By Ben Otto
Genting Singapore Ltd. swung to a loss as revenue plunged in the second quarter due to the temporary closure of its casinos and attractions during the Covid-19 pandemic.
The casino operator posted a loss after taxes of 163.3 million Singapore dollars ($119.2 million), compared with a profit of S$168.4 million for the same period a year ago, it said in a stock-exchange filing Thursday.
It was the company's worst quarterly performance since the opening of its integrated resorts in Singapore, it said.
Revenue fell 94% on year to S$41.3 million "as a result of the devastating effect" of the coronavirus pandemic, it said.
"For the rest of the year, the group remains pessimistic on the overall financial performance as global travel remains highly restrictive," it said.
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