{"id":29012,"date":"2022-04-18T06:55:51","date_gmt":"2022-04-18T09:55:51","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29012"},"modified":"2026-04-23T09:34:21","modified_gmt":"2026-04-23T12:34:21","slug":"resorts-world-sentosa-expansion-plan-to-start-this-quarter","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/resorts-world-sentosa-expansion-plan-to-start-this-quarter","title":{"rendered":"Resorts World Sentosa expansion plan to start this quarter"},"content":{"rendered":"\n

Resorts World Sentosa has reported it will start a phased refurbishment plan that will last until 2023.<\/p>\n\n\n\n\n\n\n\n

Singapore.-\u00a0Resorts World Sentosa (RWS)<\/strong>\u00a0has confirmed it will carry out a phased refurbishment from this quarter to 2023. The plan will cover 1,200 units across its three hotels: Hard Rock Hotel Singapore, Hotel Michael and the Festive Hotel.<\/p>\n\n\n\n

When completed, the Festive Hotel will be transformed into business leisure and working holiday hotel with a variety of mobile workspaces and lifestyle offerings to reflect new work trends, Genting Singapore said.<\/p>\n\n\n\n

Meanwhile, the Resorts World Convention Centre will undergo refurbishment\u00a0<\/strong>to “strengthen Resorts World Sentosa\u2019s position as a leading business destination that continues to meet the requirements of future MICE events.\u201d<\/p>\n\n\n\n

A<\/b>nother key part of the plan is the expansion of Universal Studios Singapore to add two new themed zones, Minion Land and Super Nintendo World. The company said this would grow attendance and yield for a positive impact to overall earnings per share. Construction on Minion Land and Oceanarium will start in the second quarter of this year.<\/p>\n\n\n\n

In February, the company revealed\u00a0it would spend an aggregate of SGD400m (US$294m)<\/a>\u00a0this year for phase two of the complex. 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

A week ago,\u00a0Genting Singapore’s market competitor<\/a>\u00a0Las Vegas Sands, announced that the Singapore Tourism Board has allowed it to extend the deadline for its SGD4.5bn (US$3.31bn) expansion project at\u00a0Marina Bay Sands<\/strong>\u00a0casino resort to April 8, 2023.<\/p>\n\n\n\n

Genting Singapore to see revenue and profit growth in 2022, analysts say<\/h2>\n\n\n\n

Vitaly Umansky<\/strong>, an analyst at Bernstein, has predicted that Genting Singapore will report revenue and profit growth for the remainder of 2022 and into 2023 after Singapore reopened its borders to tourism<\/a> for fully vaccinated visitors today (April 1).<\/p>\n\n\n\n

Growth will, however, be limited due as travel restrictions are expected to continue in China, which makes up about 30 per cent of the company\u2019s business. Genting Singapore reported earnings of S$95.1m (US$70.7m)<\/strong> for the second half of 2021. Revenue for the period was 17 per cent lower<\/strong>, at S$512.5m (US$381.2m).<\/p>\n\n\n\n

For the full year<\/strong>, 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":"

Resorts World Sentosa has reported it will start a phased refurbishment plan that will last until 2023.<\/p>\n","protected":false},"author":176,"featured_media":10818,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Resorts World Sentosa (RWS) is commencing a phased S$400m refurbishment plan until 2023, encompassing hotel units, the convention centre, and Universal Studios Singapore expansions, as part of its S$4.5bn commitment to the Singapore government. This strategic investment aims to enhance its MICE and leisure offerings, drive attendance, and secure its casino duopoly until 2030. Analysts forecast revenue and profit growth for parent company Genting Singapore, despite anticipated limitations from China's travel restrictions.","focusai_entities":"Resorts World Sentosa, Hard Rock Hotel Singapore, Hotel Michael, Festive Hotel, Resorts World Convention Centre, Universal Studios Singapore, Genting Singapore, Las Vegas Sands, Marina Bay Sands, Singapore Tourism Board, Vitaly Umansky, Bernstein","focusai_location":"Singapore, China","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), product_ux (0.7), marketing_crm (0.8), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Capital Allocation Impact","query":"How will Genting Singapore's S$4.5bn capital allocation strategy, inclusive of this refurbishment, impact its long-term GGR and NGR projections within the Singapore duopoly, especially considering the competitive response from Las Vegas Sands?"},{"label":"MICE Vertical Strategy","query":"What specific enhancements to the Resorts World Convention Centre and the Festive Hotel's 'business leisure' transformation are designed to capture increased market share in the post-pandemic MICE vertical, and what are the projected ROI metrics?"}],"footnotes":""},"categories":[157,16333],"tags":[23907,21162],"class_list":["post-29012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-land-based-casino","tag-resorts-world-sentosa"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29012","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=29012"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29012\/revisions"}],"predecessor-version":[{"id":29031,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29012\/revisions\/29031"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10818"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}