SINGAPORE (May 13): Thus far, integrated resort and casino operator Genting Singapore (GENS) has benefited from Singapore’s status as a tourist hub. But with the Covid-19 outbreak stalling travel and hospitality industries, the company is now facing headwinds. 

In its latest business update, the company says the impact of the pandemic was first felt in late January, with the situation taking a turn for the worse over the quarter as countries took to implementing travel restrictions and border closures to contain the spread of the virus. 

For 1QFY2020 ended March, GENS booked earnings of $148.9 million, some 55% lower than earnings of $329.7 million a year ago. In particular, earnings from the company’s Singapore Integrated Resort (IR) plunged 53% to $159.3 million. 

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