SINGAPORE – More businesses in Singapore are starting to feel the pinch of the conflict between Iran and the US and the ensuing disruption to shipping through the Strait of Hormuz, a key global energy and trade chokepoint.
Resorts World Sentosa (RWS) is stepping up efforts to refresh its attractions and broaden revenue streams as the conflict drives up costs and weighs on travel demand and consumer sentiment.
In its first quarter results update on May 12, Genting Singapore, which operates RWS, said the ongoing conflict has pushed up energy, freight and logistics costs across supply chains, while higher airfares have dampened travel demand and tourist spending at RWS.
To counter the dip, RWS is rolling out new attractions, dining concepts and promotional events aimed at drawing repeat visitors, including local patrons.
Recent additions include the opening of BODHI Spa at The Laurus hotel, QUAN Hotpot restaurant and new tenants such as People People Brewing Co. The resort has also introduced attraction season passes to encourage repeat visits.
Since 2019, Genting Singapore has invested billions in RWS 2.0, an ambitious $6.8 billion project undertaken to increase the integrated resort’s gross floor area by 50 per cent through new attractions, luxury hotels and lifestyle developments.
In 2025, RWS completed and opened several major attractions aimed at strengthening its non-gaming appeal, including permanent attractions like Minion Land at USS and the Singapore Oceanarium.
It also launched Weave, a new lifestyle mall housing more than 40 retail and dining concepts, including French macaron sensation Pierre Herme Paris’ first South-east Asia store.
In its update, Genting Singapore said it will continue to invest in hotel upgrades, new concepts, amenities and technology at RWS to improve operational efficiency and improve the visitor experience.
Against this backdrop, Genting Singapore posted a 55 per cent fall in net profit to $65.2 million for the first quarter ended March 31 compared with the same period in 2025, while revenue slipped 3 per cent to $607.6 million.
Gaming revenue fell, but non-gaming revenue rose, supported by higher visits to attractions such as Universal Studios Singapore and the Singapore Oceanarium.
Still, RWS did better in the first quarter of 2026, compared to the previous October-December quarter, with net profit rising 7 per cent over the period to $61 million, and revenue rising 3 per cent to $587.7 million.
Shares of Genting Singapore closed May 12 at 69 cents, up 1.47 per cent.
