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Resorts World Genting invests over US$800m in Genting SkyWorlds that is targeted to open by mid this year

KUALA LUMPUR (Feb 23): Genting Malaysia Bhd's Resorts World Genting (RWG), which today officially unveiled the logo of its outdoor theme park Genting SkyWorlds, said it has spent over US$800 million on the long-awaited theme park.

“It took us a number of years, but the important thing is that we are committed to the park. We are going to see that it opens,” said RWG head of business operations and strategies Lee Thiam Kit, in a virtual briefing today.

“We are almost ready. We are putting the finishing touches on this amazing theme park, which we believe to be Southeast Asia’s most anticipated theme park. We believe we will deliver the very best experience to our guests throughout this journey,” he added.

Genting SkyWorld, which is targeted to be ready and open to the public by the mid of this year, is now in the final stages of completion.

Spanning across 26 acres, the theme park will have 26 rides and attractions. It will be able to accommodate some 20,000 tourists.

In addition to its own original and exciting Intellectual Properties (IPs), Genting SkyWorlds will also incorporate 20th Century Studios brands and IPs across its world-class rides and attractions — including Ice Age, Night at the Museum and Planet of the Apes, among many others. This is made possible through a strategic collaboration between Genting Malaysia and 20th Century Studios, said RWG.

“While it is not a Fox Park, the contents in the park are very much based on our original plan where we have a number of IPs, where we implement it to world-class standards with the support of [Walt] Disney [Co],” said Lim.

Recall that this outdoor theme park was first intended to be a 20th Century Fox World Theme Park project but was changed after The Walt Disney Co acquired Twenty-First Century Fox group of companies back in 2018.

RWG executive vice president of leisure and hospitality Edward Arthur Holloway said RWG will “obviously focus on domestic tourism” in the next six months to one year, adding that the group will be focusing on the family market in Malaysia.

“We are confident that with what we are going to offer, we will be able to reach the numbers that we desire, but in a very controlled manner. We want to emphasise that we won’t just open the door and let almost 20,000 instantaneous customers come in,” said Holloway.

Genting Malaysia’s shares were seven sen or 2.54% higher at RM2.83 at noon break today, valuing the counter at RM16 billion. Some 9.52 million shares were traded.

http://www.theedgemarkets.com/article/resorts-world-genting-invests-over-us800m-genting-skyworlds-targeted-open-mid-year

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