Link: https://links.sgx.com/1.0.0/corporate-announcements/ICQRGNBFANVDT4A4/147b229f580e7a6b7712f8137c19ec968d326a151fb477f7f1c38b0d4409116b

Summary:

• Revenue: S$1.21 billion (down 10%); Gaming revenue fell 12% and non-gaming revenue fell 6%.

• Net profit: S$234.7 million (down 34% from S$356.9 million in 1H 2024); Earnings per share: 1.94 cents (down from 2.96 cents).

• Adjusted EBITDA: S$423.7 million (down 26%); margin compression from higher costs.

• Administrative and distribution expenses both jumped 34% amid ongoing transformation and redevelopment (RWS 2.0), which included brown-field construction and phased closures.

• Net cash from operations: S$369.1 million (down from S$439.1 million); large capital investments continue (S$305.3 million capex); cash on hand at end-June: S$3.32 billion.

• Net asset value per share: 68.6 cents (down from 68.7 cents at end-2024).

• Interim dividend: 2.0 cents/share (same as prior year) – payable 17 Sep 2025 to shareholders on record as of 28 Aug 2025.

• Outlook: Ongoing RWS 2.0 transformation (new rides, IP launches, new oceanarium and lifestyle precincts, premium hotel set to open in Q4 2025); construction disruptions expected in short term but management remains focused on long-term positioning, operating discipline, and sustainable tourism leadership.

• Auditor: PwC review concludes nothing materially misstated in interim financials.