SOUTH EAST ASIA 26
MALAYSIA
Ramp up seen as theme parks draw in crowds An increase in visitation is expected to drive gaming business at Resorts World Genting this year, although analysts say the two key attractions in its multi-billion dollar revamp are unlikely to be available until the end of this year.
G
enting Malaysia, the country’s only casino operator, is nearing completion of the Genting Integrated Tourism Plan, which included an upgrade to hotel facilities, more retail and casino space, the Skytropolis indoor theme park and a much anticipated outdoor theme park in a venture
with Twentieth Century Fox. The company expects to invest a total of RMB10.4 billion ($2.68 billion) in the project, more than double its initial projections. Genting has operations in the U.K.; U.S; Bahamas and Egypt, though gets the bulk of its revenue from its Malaysian operations. It
Looking forward, management will “ tailor its marketing efforts to draw foreign visitation in FY18 when the indoor theme park is reopened in 2H and the 20th Century Theme Park opens in end-2018,
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Asia Gaming Briefings | May 2018
says it expects the new attractions to pull in more tourists from home, but also plans to step up its marketing efforts to expand into regional markets. “The completion of the GITP expansion will elevate RWG’s position as a premier integrated resort and destination of choice in the region,” the company said. In Q4, Resorts World Genting attracted 6.7 million visitors, an increase of 34 percent on the same period last year, while its hotels enjoyed a 97 percent occupancy rate. Revenue gained 11 percent in the period to RM2,544.0 million, however adjusted EBITDA was down 10 percent to RM669.6 million, due mainly to expenses related to the roll out of new facilities. “Looking forward, management will tailor its marketing efforts to draw foreign
