Genting Singapore reported a 26% drop in Q1 profits to S$34.5mn ($26mn) with revenues falling 32% to S$277.9mn ($209.5mn). Gaming revenues, which contributes the bulk of the group’s revenues slipped 19% and non-gaming was down 56% with the impact of the pandemic felt across divisions. The company said that profits could have been more pronounced if not for the various support measures initiated by the Singapore Government.
Genting’s dollar bonds were mixed – its 4.25% 2027s were up 0.2 to 106.02, yielding 3.1% and its 3.882% 2031s were down 0.2 to 99.25, yielding 3.97%.
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