Genting Singapore Ltd. said its third-quarter normalized net income came to S$61.2 million, a decrease of 39.2% from S$100.7 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 9.6% from 15.6% in the year-earlier period.

Total revenue decreased on an annual basis to S$636.1 million from S$644.8 million, and total operating expenses came to S$460.0 million, compared with S$462.9 million in the year-earlier period.

Reported net income fell 61.8% on an annual basis to S$37.2 million, or 0 cents per share, from S$97.4 million, or 1 cents per share.

As of Nov. 12, US$1 was equivalent to S$1.42.