{"id":27429,"date":"2022-02-21T09:25:01","date_gmt":"2022-02-21T12:25:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27429"},"modified":"2026-04-23T11:10:22","modified_gmt":"2026-04-23T14:10:22","slug":"genting-to-invest-us297-8m-in-resorts-world-sentosa","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-to-invest-us297-8m-in-resorts-world-sentosa","title":{"rendered":"Genting to invest US$297.8m in Resorts World Sentosa"},"content":{"rendered":"\n

Genting Singapore has announced it will invest S$400m (US$297.8m) in Resorts World Sentosa (RWS).<\/p>\n\n\n\n\n\n\n\n

Singapore.- <\/strong>Genting Singapore will invest S$400m (US$297.8m) in Resorts World Sentosa (RWS) to\u00a0upgrade attractions\u00a0<\/strong>and refurbish three existing hotels. The improvements are part of a\u00a0S$4.5bn spending commitment to the Singapore government<\/a>\u00a0announced by Genting Singapore in April 2019 under which it will retain half of the Singapore casino duopoly until 2030.<\/p>\n\n\n\n

The casino operator said it will add a new zone to its Universal Studios theme park. It will also renovate three of its hotels: Hard Rock Hotel Singapore; Michael’s Hotel; and Festival Hotel, which together offer more than 1,200 rooms.<\/p>\n\n\n\n

Tan Hee Teck<\/strong>, chief executive of Resorts World Sentosa, stated: \u201cWith 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\u2019s tourism as borders gradually reopen.\u201d<\/p>\n\n\n\n

Genting Singapore<\/a>\u00a0reported earnings of\u00a0S$95.1m (US$70.7m)<\/strong>\u00a0for the second half of 2021. That\u2019s a drop of\u00a049 per cent\u00a0<\/strong>compared to the same period of the previous year when net profits were S$185.9m (US$138.2m). Revenue for the period was also\u00a017 per cent lower<\/strong>, at S$512.5m (US$381.2m).<\/p>\n\n\n\n

Second-half adjusted EBITDA fell 52.3 per cent year-on-year to just under S$171.9m (US$127.8m). Non-gaming revenue rose 2 per cent at S$147.2m (US$109.5m). For the full year<\/strong>, however, the group\u2019s revenue improved marginally <\/strong>to S$1.067bn<\/strong> from S$1.064bn in 2002. Net profit was up 165 per cent at S$183.3m (US$136.3m).<\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Singapore has announced it will invest S$400m (US$297.8m) in Resorts World Sentosa (RWS).<\/p>\n","protected":false},"author":176,"featured_media":25660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Singapore is allocating S$400m for upgrades at Resorts World Sentosa, encompassing attraction enhancements and hotel refurbishments, as part of its S$4.5bn regulatory commitment to secure its casino duopoly in Singapore until 2030. This strategic capital expenditure aims to bolster RWS's market position and capitalize on the anticipated tourism recovery, despite a reported decline in H2 2021 gaming-related revenues.","focusai_entities":"Genting Singapore, Resorts World Sentosa, Hard Rock Hotel Singapore, Michael\u2019s Hotel, Festival Hotel, Tan Hee Teck, Universal Studios","focusai_location":"Singapore, Sentosa","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.9), product_ux (0.7), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Impact?","query":"How will the S$400m investment in non-gaming verticals at RWS impact the overall Gross Gaming Revenue (GGR) trajectory and market share within Singapore's duopoly, particularly given the H2 2021 gaming revenue decline?"},{"label":"Regulatory Compliance?","query":"What specific governance frameworks and reporting mechanisms are in place to ensure Genting Singapore's adherence to the S$4.5bn investment commitment and the terms of its extended casino duopoly license until 2030?"}],"footnotes":""},"categories":[157,16333],"tags":[23687],"class_list":["post-27429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27429"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27429\/revisions"}],"predecessor-version":[{"id":27437,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27429\/revisions\/27437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25660"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}