Finances in a business is the most important factor that keeps the business working. Any working company focuses on making revenue according to an initial plan and reaching lower values can be considered as a critical stage where new decisions should be taken immediately. This is established in any business, no matter the circumstances as the only way to help keep a business functioning and open.
However, recently in Singapore, Genting which is a company provided leisure and entertainment through parks and resorts has observed a decline in their numbers which is causing a panic in the company. According to reports released by the company, there has been a decrease in their overall revenues of almost 8% reaching a total amount of $430.18m.
These were the values obtained during the first quarter of their fiscal year which showed a 5% decrease in profits which is reflected as a decrease from $217.19m to $205.47m. This decreases has affected the overall earnings of the company with a decrease of 8% also (from $358.94m in 2018 to $329.68m in 2019). This was the case concerning the gaming businesses of Genting. However, on the other hand, for the non-gaming business there was a consistent growth in values from $207.27m to $209.29m. This was due to the high number of visitors who spend a lot of money, reaching a total of 19,000 visits per day.
This has been reflected as a total of 93% occupation throughout the first quarter of the year only.