Resorts World Sentosa Waterfront development to be completed by 2030

The waterfront development will include two new hotels with 700 rooms.

Singapore.- Genting Singapore has forecast that work on the Resorts World Sentosa (RWS) waterfront promenade will be completed by 2030. The development will include the construction of a mountain trail, an 88m-tall light sculpture, new shops, restaurants and entertainment venues and two new 700-room hotels.

At a groundbreaking ceremony on Friday (November 15), Tan Hee Teck, RWS chief executive officer, said the development highlights the company’s commitment to enhancing Singapore’s standing as a global lifestyle destination.

Alvin Tan, Singapore’s minister of state for trade and industry, said: “I look forward to its completion and the unique experiences it will offer to both international and local visitors.”

RWS announced its plans to upgrade the waterfront in 2019 as part of its “RWS 2.0” expansion. At that time, the company indicated the expansion plan would cost SG$4.5bn (US$3.3bn). The estimate was later adjusted to SG$6.8bn to be invested over eight years. RWS’s gross floor area is projected to increase by 50 per cent, with over 164,000 square meters to be added.

Genting Singapore posts revenue of US$423.5m for Q3

For Q3, Genting Singapore posted revenue of SG$561.9m (US$423.5m), down 19 per cent year-on-year and 2 per cent sequentially. The decrease was mainly attributed to a 28 per cent year-on-year drop in gaming revenue from the integrated resort (IR), Resorts World Sentosa (RWS), to SG$330m (US$250m).

Non-gaming revenue was up 1 per cent year-on-year and 22 per cent sequentially to SG$231.8m (US$174.7m). Revenue from other segments, including the group’s investment business and support services, rose by 2 per cent year-on-year to SG$144,000 (US$108,529).

See also: Maybank lowers profit forecast for Genting Singapore