- Legal States
Erik Gibbs February 21, 2022 2 min read
Genting Singapore Advances Planned Resorts World Sentosa Upgrades
Resorts World Sentosa (RWS) is getting a facelift. Genting Singapore Ltd, its owner, is going to invest almost $298 million in updating a portion of its attractions and revamping three existing hotels. Work will begin next quarter and could continue into 2024.
Resorts World Sentosa Growing
These improvements are essential for a $3.3-billion spending plan Genting Singapore made to the government in April 2019. It denotes the beginning of the alleged “2.0” development of RWS as a component of a plan that sees Genting Singapore keep until 2030 its half of Singapore’s gambling club duopoly.
The other half of that duopoly is controlled by Las Vegas Sands and its Marina Bay Sands property. It, too, is currently undergoing upgrades.
In addition to the new “Minion Land” zone at the property’s Universal Studios theme park, The SEA Aquarium will likewise be fundamentally upgraded and rebranded as the Singapore Oceanarium, according to a press release. The Singapore Oceanarium, depicted as multiple times greater than the momentum SEA Aquarium, ought to be finished before the end of 2024.
RWS said it would likewise be renovating three of its hotels, including Hard Rock Hotel Singapore, Hotel Michael, and Festive Hotel. Combined, they provide over 1,200 hotel rooms at the resort.
The hotels and their rooms will go through redesign works in stages from the second quarter of 2022 through 2023. In addition, an upgrade is likewise anticipated the Resorts World Convention Center, it added.
A New Era of Resort Travel
Tan Hee Teck, CEO of Resorts World Sentosa, said in the press release, “With our upcoming Resorts World Sentosa 2.0 developments, we are confident that Resorts World Sentosa will be well-positioned to lead the recovery of Singapore’s tourism as borders gradually reopen. We are fortunate that Singapore has a comprehensive plan on reviving international travel in a safe manner and inspiring travel to Singapore.”
RWS additionally said it would fortify its “commitment to sustainability.” Genting reiterated its position that it wants to accomplish carbon neutrality by 2030.
Analysts with Sanford C. Bernstein said in a Thursday note that the resort’s administration was revising a portion of the expansion plan to zero in on joining business and leisure options in order to draw in more “premium” visitors.
On Thursday, Genting Singapore revealed a net benefit of SG$183.3 million ($136.4 million) for 2021. This was a significant gain over the SG$69.2 million ($52.1 million) the prior year.