Genting Singapore plc (Genting Singapore) recorded net profit of S$187.8 million (RM450.8 million) for 3QFY10, down 52% from S$396.5 million in the preceding quarter.
Its revenue shed 24% quarter-on-quarter (q-o-q) to S$744.02 million from S$979.26 million while posting earnings per share of 1.5 cents versus 3.27 cents in the second quarter.
Market consensus expected a drop in profits but not an over 50% plunge in the quarterly earnings. Analysts said the sharp decline could be an indicator that the excitement over the opening of a new casino has waned in the republic. Click here to read more.