{"id":777010802,"date":"2023-11-02T06:41:10","date_gmt":"2023-11-02T09:41:10","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777010802"},"modified":"2023-11-02T09:45:35","modified_gmt":"2023-11-02T12:45:35","slug":"singapore-approves-expansion-of-resorts-world-sentosa","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/singapore-approves-expansion-of-resorts-world-sentosa","title":{"rendered":"Singapore approves expansion of Resorts World Sentosa"},"content":{"rendered":"\n<p>Authorities have approved a new hotel and retail space.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Singapore.- An indirect subsidiary of<strong> Genting Singapore<\/strong> has received provisional permission from the Urban Redevelopment Authority (URA) to embark on a project at <strong>Resorts World Sentosa (RWS)<\/strong>.\u00a0The approved project includes the development of 21,243 square meters dedicated to retail space and the creation of 700 hotel rooms.<\/p>\n\n\n\n<p>The venture aligns with Genting Singapore&#8217;s 2019 commitment to invest SG$4.5bn (US$3.3bn) in expanding the integrated resort with new non-gaming attractions. RWS currently has five hotels with a combined capacity of approximately 1,600 rooms.\u00a0<\/p>\n\n\n\n<p>In October,\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-to-generate-us1bn-in-operating-cash-flow-to-2024\" target=\"_blank\">Moody\u2019s Investors Service<\/a><strong>\u00a0<\/strong>said it expected\u00a0<strong>Genting Singapore<\/strong>\u00a0to generate SG$1.4bn (US$1.0bn) in operating cash flow up to December 2024.\u00a0Moody\u2019s said this coupled with the company\u2019s cash balance, will cover\u00a0<strong>projected capital spending of approximately SG$1bn<\/strong>, an estimated dividend payout of around SG$0.6bn and minimal debt repayment.<\/p>\n\n\n\n<p>In the first half of the year,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-posts-net-profit-of-us205-6m-for-h1\" rel=\"noreferrer noopener\">Genting Singapore<\/a>&nbsp;posted a net profit of&nbsp;<strong>SG$276.7m (US$205.6m)<\/strong>. Gaming revenue rose 57 per year-on-year to SG$746.9m (US$555m) and non-gaming revenue 82 per cent to SG$333.2m (US$248m). Genting Singapore\u2019s consolidated revenue was up 63 per cent to SG$1.08bn (US$803m).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Authorities have approved a new hotel and retail space.<\/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,"footnotes":""},"categories":[157,16333],"tags":[23687],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010802"}],"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=777010802"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010802\/revisions"}],"predecessor-version":[{"id":777010805,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010802\/revisions\/777010805"}],"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=777010802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}