Genting Singapore's stock plummeted 3% in early trading on Friday, following the release of its disappointing first-half financial results. The resort and casino operator reported a significant 34% drop in profit for the first half of the year, which has evidently shaken investor confidence.

According to the company's financial report released on Thursday, Genting Singapore's profit fell to S$234.7 million in the first half of the year. The decline in profitability was accompanied by a 10% decrease in revenue, which dropped to S$1.2 billion from S$1.4 billion in the previous year. The company's performance was particularly impacted by a 12.3% decline in gaming revenue, which fell to S$839.4 million, and a substantial 19% decrease in room revenue, which dropped to S$98.4 million.

The sharp decline in Genting Singapore's stock price reflects investors' concerns about the company's ability to maintain growth in the face of challenging market conditions. As the tourism and hospitality sectors continue to face headwinds, Genting Singapore may need to implement strategic measures to boost its revenue streams and improve profitability in the coming quarters.