Genting Singapore, operator of the giant Resorts World Sentosa integrated resort, has seen its shares plunge after announcing that it expects to report a "significant" decline in net profits for the three months to the end of June.

In a statement to the Singapore Exchange, the operator revealed that the decrease was due to derivative losses as a result of unfavourable market conditions and unrealised foreign exchange translation losses although it expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the second quarter to be "comparable" with the previous three months.