Genting Malaysia now aims to finish SkyWorlds theme park in Q3
Genting Malaysia Bhd says it is working towards the completion in the third quarter of this year for its Genting SkyWorlds outdoor theme park at Resorts World Genting property.
Genting Malaysia says it has invested over 800 million in Genting SkyWorlds.
This February, Genting Malaysia Berhad‘s management had said it was targeting the second quarter in 2020 for the launch of the theme park, which is located in the grounds of its resort outside the Kuala Lumpur.
In late April, it had been reported that staff recruitment for the facility had started. But the firm said that the imposition of a third movement control order “will continue to adversely impact the group’s business following the temporary closure of Resorts World Genting’s casino operations from 24 May 2021.”
The company added: “While the group continues to work towards the completion of the Genting SkyWorlds outdoor theme park in the third quarter of 2021, the opening date of the park is dependent on developments surrounding the Covid-19 situation and its impact to the leisure and hospitality sector in the country.”
Genting Malaysia has stated it has invested “over US $800 million” in Genting SkyWorlds. The theme park spans 26 acres and is said to be able to accommodate up to 20,000 tourists at one time.
Some investment analysts has suggested the launch of the park could help boost the gaming giant’s earnings by attracting new customers.
Samuel Yin Shao Yang, an analyst at Maybank Investment Bank, said in a note on Genting Malaysia’s first quarter, that the institution forecast the casino firm’s 2022 EBITDA could grow by 132%, as “Genting SkyWorlds theme park ramps up”.
Editing by Rachel Hu
