Genting Singapore has reported a 32% drop in revenue in the first quarter of 2021. Q1 figures for the Singapore-based leisure, hospitality and integrated resorts development specialist, stood at $277.9 million. The company’s adjusted EBITDA dropped 15% to $135.1 million. Genting Singapore’s net profit after tax fell 26% to S$34.5 million.
The revenue decline has been pinned on the coronavirus outbreak, which continues to weigh on the company’s operational performance.
According to Genting Singapore, the tourism industry is still negatively impacted by restricted travel within its traditional markets. It adds there has been a “careful and calibrated’ approach to resuming business to make health and safety a priority.