Genting Singapore reported first-quarter 2026 profit of about SGD65.2 million, down 55% year on year, while revenue fell 3% to SGD607.6 million. Gaming revenue declined 7.8% to nearly SGD403.4 million, while non-gaming revenue rose 8.3% to SGD204.1 million; the company cited higher supply-chain costs and geopolitical pressures.
Falling gaming revenue and higher supply-chain costs weighed on Genting Singapore’s profit.
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All seven candidates in Yokohama’s mayoral election have ruled out seeking an integrated resort with a casino, according to reports. The election is scheduled for 18 October, ahead of Japan’s next application window for up to two casino-resort licences, expected to run from May to November 2027. Yokohama did not join the first application round.
Fitch said slower earnings growth and heavy capital spending are keeping leverage high among gaming operators in Asia-Pacific, with recent downgrades linked to company-specific pressures. It expects Genting Bhd's net leverage to remain above 4.0 times over the next three years and Genting New York's annual capital spending to average around US$800 million over the medium term.
Independent candidate Kazuma Nakatani has pledged to seek a Yokohama ordinance prohibiting casino construction if elected mayor. The campaign promise would maintain the city’s existing policy against pursuing casino development; voting is scheduled for 18 October.
Yokohama mayoral candidate Kazuma Nakatani said he would keep casinos out of the city and seek a local prohibition ordinance if elected. He plans to discuss the measure with the city assembly, with the stated aim of preventing casino development procedures from advancing without residents’ knowledge.
Fitch Ratings lowered Genting Berhad’s long-term issuer default rating to BBB- from BBB, with a stable outlook, citing casino expansion spending in New York and Singapore and a slower earnings ramp-up in New York. Fitch expects average annual capital expenditure of MYR9.2 billion between 2026 and 2028, while net leverage is forecast to remain above 4.0 times for the next three years.