Genting Singapore reports Q4 loss of S$7.8 million
People pass the Genting Singapore casino at Resorts World Sentosa January 26, 2016. Reuters

Casino operator Genting Singapore said third-quarter net profit jumped 24 percent from last year, powered by continued strength at its gaming business.

Net profit rose to S$168.7 million in the quarter ended September 30 from S$136.6 million a year earlier.

Adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) rose 37 per cent year-on-year to S$320.11 million underpinned by an improved operating margin and lower net impairment on receivables as a result of a more measured credit policy, the gaming group said.

Revenue gained 8 percent to S$629.9 million in the quarter, supported by a stronger VIP and premium mass business volume.

Gaming revenue, which contributes majority to the overall group sales, jumped 11 percent to S$452 million.

Genting Singapore is involved in gaming and integrated resort development in Australia, the Bahamas, Malaysia, the Philippines, Singapore and the United Kingdom.

For the quarter, company's attractions business achieved a 5 percent growth in the daily average visitorship that exceeded 21,000. .

Genting Singapore shares gained 3.2 percent to S$1.27 on the Singapore Exchange. The stock has gained nearly 41 percent so far this year.