Genting Quarterly Net Slides 53% With Lower Gaming Revenue
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Genting Bhd., the Malaysian company which controls casino operators in Southeast Asia, the U.S. and the U.K., said third-quarter profit fell 53 percent as gaming revenue and palm oil prices declined.
Net income dropped to 279.4 million ringgit ($92 million) in the three months ended Sept. 30, or 7.6 sen a share, from 597.2 million ringgit, or 16.2 sen, a year earlier, the company said in a filing to the Kuala Lumpur stock exchange yesterday. Revenue declined 14 percent to 4.2 billion ringgit.