Malaysia: Genting theme park expected in 2020
Management of Malaysian IR Resorts World Genting confirmed the property’s long-awaited outdoor theme park on track to open by mid-2020.
Malaysia.- An update on Genting Malaysia’s short-term prospects was provided in a series of analyst notes on Monday. RHB Investment Bank Bhd revealed the theme park is on track to open on time despite recent delays; associated with a legal dispute with its former partners, Twenty-First Century Fox Inc and Walt Disney Co.
The note to investors followed a site visit to the facility at the gaming complex – Resorts World Genting – held for analysts on Friday.
The theme park aims to have 25 rides when complete; some of which will utilize Fox intellectual properties as part of a recent settlement agreement reached.
The analyst said that work on the theme park structures “must be completed by first quarter 2020 to allow for several months of rides testing” and also to provide Fox Disney the chance to provide final certification.
“However, judging from the stage of completion and aggressive staff hiring in the past few months, we do not discount the possibility of an earlier opening.”
Furthermore, the cost of completing the theme park is also expected to rise; “Genting Malaysia expects to incur more capex to complete the outdoor theme park in addition to the capex to date of approximately €643 million”
Finally, analysts have suggested the completed theme park could attract up to an additional 2.5 million visitors per year.
