Genting Singapore posted a 34% slump in earnings for FY2012 to $677.7 million, on the back of a 9% slide in total turnover to $2.9 billion.

The operator of Resorts World Sentosa saw gaming revenue for the year decline 12% to $2.3 billion, although non-gaming revenue, from the hotels and theme parks, was 10% higher than the year before.

In a statement accompanying the results, Genting has reassured investors that profits should become more stable in the second half of 2013, as RWS is now fully opened and major capital expenditure on the new theme parks tail off.