CIMB Research, a division of the Kuala Lumpur-based company CIMB Group, announced the results of the study it had carried out, concerning the future expansion of Resorts World Genting. CIMB’s experts concluded that the integrated casino resort will only benefit from providing its guests and visitors with a larger gambling venue and more hotel rooms.
The report was published mere hours ago. According to it, Genting will start offering 1,300 more rooms by the end of the year.
CIMB’s experts stated that the expansion of the casino should involve the provision of 250 more tables. Currently, it offers a total of 600. They predicted that about 100 will be added in 2016 and “50 new tables annually thereafter”.
Yesterday, spokespersons for Genting announced that the company is considering the launch of an outdoors zone at the resort with shopping areas and restaurants available. It is planned to be called Sky Avenue and Sky Plaza and it will spread over a total of 400,000 square feet. Reportedly, it will be finished some time in 2015.
It was also announced that the company will most probably finish its Twentieth Century Fox World, a MYR1 billion theme park, by 2016.
The theme park, the shopping zone, and the restaurants that are to be established are part of a MYR5-billion plan for the redevelopment of Resorts World Genting, which opened doors in 1965.
According to CIMB’s experts, the opening of Twentieth Century Fox World and the shopping zone, called Genting Premium Outlet, will definitely increase the number of visitors.
What is more, mass market gambling profits are expected to grow by 20% in 2016. As stated in the research by CIMB, Genting Malaysia has not been affected by the current corruption scandal in China, for its customer base includes local mass market players and VIPs from the Philippines, Singapore, Thailand, and Malaysia.
CIMB’s experts did not miss to mention the fact that Genting is one of the operators that is most likely to win one of all four casino licenses that New York authorities will grant later this month. RW Orange County, division of Genting Malaysia, has put forward plans for two casino venues in New York. Furthermore, Genting owns the so-called Resorts World Casino New York City, which opened doors back in 2011.
According to CIMB, Genting has every chance to be awarded a license, for it “offered the highest licensing fee for Sterling Forest casino”. In addition to this, it promised between 50% and 100% higher salaries for its future employees, provided that it wins the bid.
The names of the operators that will be granted the four licenses will be announced on December 17 at the last meeting of the New York casino selection panel.
