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Genting Singapore Reports 85.5% Increase in Net Profit for Full-year 2022

Published

2 years ago

February 22, 2023

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Genting Singapore has reported an 85.5% increase in net profit for full-year 2022, at US$254.6 million. The casino operator reported that revenue increased 61.7% year-on-year to US$1.294 billion due to an increase in business volume.

The group’s cost of sales rose 51.7% to SGD1.12 billion. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was SGD774.2 million (US$579.5 million), compared to SGD448 million in 2021.

However, the group’s overall profit margin was impacted by higher utility tariffs, increased casino tax rates and accelerated depreciation on certain assets related to the renovation of one of its hotel properties and the expansion of Resorts World Sentosa.

European Gaming Congress 2024 (Warsaw, Poland)

Group-wide revenue in the six months to December 31 was SGD1.06 billion, compared to SGD663.1 million in the first six months, while second-half gaming revenue rose 58.6% from the first half to SGD753.7 million. Adjusted EBITDA in the second half stood at SGD505.4 million, compared to SGD268.7 million in the first six months.

The firm said it is cautiously optimistic of a full recovery in the medium term as flight capacity and economic uncertainties could moderate the pace of recovery.

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Bingo Paradise Celebrates 65% Growth in First-Time Depositors in Q3 2024

Published

4 weeks ago

November 29, 2024

Zoltan Tundik

Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.

“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”

Bingo Paradise achieved a 65.24% year-over-year increase in FTDs compared to Q3 2023. This impressive growth underscores the affiliate’s focus on player-first strategies, such as creating honest, well-researched reviews that empower users to make informed decisions. The team’s compliance manager ensures every piece of content adheres to strict regulations, building trust with both players and operators.

A key factor in the platform’s success is its ability to negotiate exclusive offers with UKGC-licensed operators. These partnerships allow Bingo Paradise to provide unique deals that resonate strongly with players, enhancing its appeal as a go-to player resource. The focus on promoting only licensed operators also ensures fairness and security for users, which further solidifies the portals reputation.

The brands approach is a model of integrity and innovation. By prioritising compliance and transparency, Bingo Paradise, which itself is owned by Meteor Marketing Ltd has positioned itself as a trusted affiliate partner, both for operators seeking reliable collaborations and for players looking for guidance in the iGaming world. As the platform celebrates its Q3 2024 achievements, it remains committed to exploring new opportunities and maintaining its high standards.

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TWO NEW WORLDS WERE UNVEILED AT ZITRO EXPERIENCE MEXICO 2024

Published

4 months ago

September 13, 2024

GamingAmericas.com

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Play’n GO announces network-wide US release of hit title Colt Lightning Firestorm

Published

4 months ago

August 23, 2024

GamingAmericas.com

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Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive

Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.

Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.

This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.

Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”