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Genting: Attractions Offset Gaming Uncertainties in Asia and a $2.8bn Investment in Las Vegas

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CIMB Equities Research report that Genting Bhd has announced an investment of RM11 billion (US$2.8 billion) over the next three years for Las Vegas Phase 1.

Meanwhile, in the company’s third quarterly report, Genting talk about the uncertainty in the gaming industry in Asia, and a focus on attractions at RWS:

“As Asia’s middle class continues to grow and prosper, RWS’s world-class attractions have been a foundation for it to market to the region. Its uniquely Singapore style Integrated Resort concept has served it well to position its resort branding. RWS continues to execute its transformational initiatives to anchor itself as Asia’s premium lifestyle destination. This includes property enhancement projects which have already begun with the Maritime Experiential Museum (“MEM”) upgrade at the existing property. The MEM, which is currently Asia’s only maritime silk-road themed museum, is scheduled to unveil its fully refurbished facility with renewed content by end 2017. It will become a world class edutainment spot in Singapore complementing RWS’s existing cluster of iconic themed attractions. Genting Singapore PLC believes its commitment to RWS’s continuous development and transformation in keeping with latest market trends and competition will drive Singapore’s tourism to the next level of sustainable growth.”

https://www.thestar.com.my/business/business-news/2016/11/25/genting-plans-rm11b-for-las-vegas-phase-1/

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Rachel Reed

Rachel Read

Rachel is Finance Director. She has a degree in engineering from Cambridge University and qualified as a Chartered Accountant at Deloittes in London. She worked in finance in industry for twenty years. She oversees our news and also manages our events.

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