SINGAPORE (Nov 3): Genting Singapore’s 3Q earnings more than quadrupled to $106.9 million from a year ago despite lower revenue after focusing on the mass market business and managing operational efficiency for better margins.
With the ongoing uncertainty in the gaming industry in Asia, Genting said it remained cautious of the VIP business.
"Since early 2016, we have scaled down this business segment and the provision for bad debts related to this segment has consequently reduced. We will continue to see improved margins in this segment over the next few quarters," said Genting in its filing.
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