Genting SkyWorlds might open for Chinese New Year, analysts say

The Genting SkyWorlds outdoor theme park is expected to bring more visitors to RWG.
The Genting SkyWorlds outdoor theme park is expected to bring more visitors to RWG.

Maybank Investment Bank Bhd suggests Genting SkyWorlds, Genting Malaysia’s new outdoor theme park, might be ready to be launched for the Chinese New Year.

Malaysia.- Maybank Investment Bank Bhd said in a report that Genting Sky World theme park launch could happen near the Chinese New Year that falls on February 1.

Analysts stated: “We expected Genting SkyWorlds to open on December 10, 2021, but it did not come to pass. 

“Channel checks inform us that Genting Malaysia is ‘ironing out’ software issues and hopes to open Genting SkyWorlds for Chinese New Year,”

Maybank IB Research has previously reported that it expects Genting Malaysia’s earnings before interest, taxes, depreciation, and amortization (EBITDA) to increase by 501 per cent in the fiscal year 2022 after Genting SkyWorlds opens to MYR3.23bn (US$767.9m).

Last October, analysts at RHB Research visited the venue and referred to the opening of Genting SkyWorlds as a possible “crowd-puller for other RWG facilities, potentially leading to higher-than-expected visitor arrivals.“ 

Despite the delay in the opening, the investment bank said that Resorts World Genting’s visitor volume in the fourth quarter of 2021 was “strong”, helped by a rise in the Covid-19 vaccination rate of Malaysian citizens.

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