Completion of RWS expansion may be delayed until 2028
The cost of the expansion at Singapore’s Resorts World Sentosa looks likely to go over budget.
Singapore.- Genting Singapore, the operator of Singapore’s Resorts World Sentosa (RWS) casino resort, has advised that the cost of the RWS expansion programme may exceed the initial budgeted amount of SGD4.5bn (US$3.36bn). The update was provided during a conference call with investment analysts.
The RWS2.0 expansion project was announced in April 2019 as part of an agreement between Genting Singapore and the city-state’s government to extend the casino’s licence until 2030.
Analysts now expect the completion of RWS2.0 to be delayed to as late as 2028 as Genting Singapore continues with construction of the Singapore Oceanarium and Minion Land at Universal Studios Singapore as well as infrastructure facilities to support the expansion.
Marina Bay Sands, Singapore’s other casino resort, is advancing with its own expansion programme. MBS2.0 was initially budgeted at SGD4.5bn and expected to commence construction by April 8, 2023. However, it may also face budget and timing reviews due to the Covid-19 pandemic and other factors, according to operator Las Vegas Sands Corp.
