13 May '11, 3pm

Genting Singapore's stellar performance not sustainable: analysts

SINGAPORE : Analysts say that casino operator Genting Singapore will unlikely see its net profit grow exponentially going forward. Genting reported a net profit of $305.4 million in last quarter and said that its gaming revenue were mostly driven by the high rollers market. But analysts say that lady luck might had played a part for the casino. Taking a bet at a casino is not like a game of heads and tails where players have an equal fifty-fifty chance of winning. Analysts say that win rates for casinos, or a measure of the odds against gamblers, typically hover around 2.85 percent. But Genting's Resorts World Sentosa (RWS) enjoyed an unusually high win rate for the period ending March, as it saw its revenue almost tripled from the previous quarter. RWS reported that it raked in revenue of $913.6 million in the first quarter compared to $334.8 million a year ago. Observers...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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