Singapore – Second half rebounds for Resorts World Sentosa with Genting seeing full recovery in medium termBy Phil - 20 February 2023
Genting Singapore saw an 85 per cent increase in income at its Resorts World Sentosa in Singapore with gaming revenues hitting US$921m, up 53 per cent year-on-year, and non-gaming revenues reaching US$367m an increase of 90 per cent.
Full year revenues were increased by 62 per cent from 2021 with the operator’s second half of the year 60 per cent higher than its first half coming in at US$794m with gaming accounting for US$566m and non-gaming for US$230m.
The operator said: “With the recovery of Singapore’s international visitors, the Group’s performance rebounded strongly, with Resorts World Sentosa outperforming significantly over the pandemic years. Flight capacity and economic uncertainties will moderate the pace of recovery. We are cautiously optimistic for a full recovery in the medium term.”
“Our expansion projects (RWS 2.0) have commenced and this includes the ongoing construction of the Singapore Oceanarium (SGO), Minion Land at Universal Studios Singapore, and supporting infrastructure facilities to cater to the overall expansion of RWS. Meanwhile, Van Gogh: The Immersive Experience, a 360° multi-sensorial exhibition combining the art and virtual reality (VR) will make its first debut in Southeast Asia at our completely refurbished theater space in March 2023.”
“A newly renovated Festive Hotel will be re-launched in May 2023 as a lifestyle destination hotel, adding 389 rooms to the resort’s overall hotel inventory. Slated for completion in late 2024, the Forum and Coliseum with more than 20,000 sqm of commercial space will undergo major transformation. When completed, it will serve as a central lifestyle cluster in the resort offering a wide variety of entertainment, retail and dining options in a lush biophilic environment.”