• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Resorts World Sentosa affirms revamp of 3 hotels up to 2023

Apr 18, 2022 Newsdesk Latest News, Singapore, Top of the deck  


Resorts World Sentosa affirms revamp of 3 hotels up to 2023

Singapore casino complex Resorts World Sentosa has confirmed it is starting this quarter through to 2023 a phased refurbishment that will encompass three of its hotels – Hard Rock Hotel Singapore, Hotel Michael, and Festive Hotel and their aggregate 1,200 accommodation units.

When completed, the Festive Hotel will be refashioned into a “business-leisure” and “work-vacation” hotel “with a variety of mobile working spaces and lifestyle offerings that will meet new work trends,” said the complex’s promoter, Genting Singapore Ltd, in a Friday filing to the Singapore Exchange.

It added: “Importantly, Resorts World Convention Centre will undergo refurbishment to strengthen Resorts World Sentosa’s position as a leading business destination that continues to meet the requirements of future MICE events.”

Genting Singapore’s market rival in Singapore’s casino duopoly is United States-based Las Vegas Sands Corp.

That firm had said – at the time of its fourth-quarter earnings announcement in January – that it had started a US$1-billion “renovation project” of hotel accommodation at its Marina Bay Sands casino resort.

Genting Singapore said an aggregate of SGD400 million (US$294 million) would be spent this year for phase two of its Resorts World Sentosa complex – a project it refers to as “RWS 2.0” – and “related refurbishment works”. The amount had been mentioned in a February announcement, and is part of a pledge to the local authorities to invest SGD4.5 billion in expansion of the existing resort.

Genting Singapore’s Friday filing featured answers to anticipated questions from investors, and that will be relevant to the firm’s annual general meeting to be held this coming Thursday (April 21)

The company said in its Friday statement, referring to its on-site theme park: “The expansion of Universal Studios Singapore is a key component of Resorts World Sentosa’s expansion plan (RWS 2.0) which will add two new themed zones, i.e. Minion Land and Super Nintendo World, to the park with the aim to grow attendance and yield for a positive impact to overall earnings per share.”

Genting Singapore added it was “making good progress” with RWS 2.0.

“Construction works on both Minion Land and Oceanarium will start in the second quarter of this year,” it noted.

The group had announced in August last year it had acquired, for SGD800-million, leasehold land for the 2.0 expansion.

In discussion of other matters, Genting Singapore acknowledged that an increase in gross gaming revenue (GGR) tax rates in the city state – that took effect on March 1 – would have a “negative impact on our net profit”.

The GGR tax rate for premium-player business went up from 5 percent to 8 percent. For other play, the GGR tax rate went from 15 percent to 18 percent.

But Genting Singapore was upbeat on the business outlook under Singapore’s “living with Covid-19” policy.

“With Singapore’s reopening of borders to all fully-vaccinated travellers since 1 April 2022 and further relaxation of Covid-19 related regulations, we are cautiously optimistic of the recovery trajectory in 2022.”

Though the group observed: “Discretionary leisure travel will take time to return to meaningful levels due to limited flight schedules and ongoing Covid-19 related travel rules and restrictions especially on our traditional markets such as China.”


  • tweet
Related articles
  • Clampdown on junkets in Macau not to impact RWS: CEO
    Clampdown on junkets in Macau not to...

    May 24, 2023  

  • Genting Sing 1Q profit soars, Forum at RWS to be revamped
    Genting Sing 1Q profit soars, Forum at...

    May 12, 2023  

More news
  • MBS en route to US$500mln quarterly EBITDA: LVS boss
    MBS en route to US$500mln quarterly...

    Jun 01, 2023  

  • Paradise Co sees May casino revenue up 30pct m-o-m
    Paradise Co sees May casino revenue up...

    Jun 01, 2023  


Latest News

MBS en route to US$500mln quarterly EBITDA: LVS boss

MBS en route to US$500mln quarterly EBITDA: LVS boss

Jun 01, 2023  

Casino operator Las Vegas Sands Corp expects its Marina Bay Sands (MBS) property in Singapore to soon hit the US$500-million mark in terms of quarterly earnings before interest, taxation,...
Read More
Paradise Co sees May casino revenue up 30pct m-o-m

Paradise Co sees May casino revenue up 30pct m-o-m

Jun 01, 2023  

G2E Asia 2023: Singapore

  • Alfastreet’s new Verso cabinet heading to Asian markets
    Alfastreet’s new Verso cabinet heading to Asian markets

    Jun 01, 2023  

    Alfastreet, a manufacturer of electronic gaming machines,...
  • Sega Sammy Creation growing land-based, eyes online
    Sega Sammy Creation growing land-based, eyes online

    Jun 01, 2023  

    Casino equipment maker Sega Sammy Creation Inc is tweaking...
  • iGaming growing in Asia, ops tackling challenges: Uplatform
    iGaming growing in Asia, ops tackling challenges: Uplatform

    Jun 01, 2023  

    The iGaming segment in Asia “has grown rapidly” since...
  • ‘See before you play’ slot marketing tool, say tech suppliers
    ‘See before you play’ slot marketing tool, say tech...

    May 31, 2023  

    Showing slot machine players – via animations on the...
  • Macau stocks tied to China outlook: Bloomberg analyst
    Macau stocks tied to China outlook: Bloomberg analyst

    May 31, 2023  

    Macau stocks in likelihood “have been punished too much...
  • Investors still eye possible fresh IR locations in Japan: scholar
    Investors still eye possible fresh IR locations in Japan:...

    May 31, 2023  

    There are foreign companies still interested in investing...
  • Thai casino law possible in 2024, IR in 2030: govt adviser
    Thai casino law possible in 2024, IR in 2030: govt adviser

    May 31, 2023  

    Thailand could pass the necessary enabling legislation for...
  • China still ‘critical’ to Asian markets: G2E Asia panel
    China still ‘critical’ to Asian markets: G2E Asia panel

    May 30, 2023  

    China will remain a key market for Asian gaming...
  • Much interest in state casinos sale, says Pagcor boss Tengco
    Much interest in state casinos sale, says Pagcor boss

    May 30, 2023  

    Alejandro Tengco (pictured in a file photo), chairman and...
  • Gaming industry in for a very exciting period: Bill Miller
    Gaming industry in for a very exciting period: Bill Miller

    May 30, 2023  

    There are “plenty of reasons” for the global gaming...
  • IGT flags route to high-performing games for Asia
    IGT flags route to high-performing games for Asia

    May 30, 2023  

    Gaming equipment provider International Game Technology Plc...
  • G2E Singapore trade show, conference begins today
    G2E Singapore trade show, conference begins today

    May 30, 2023  

    The Global Gaming Expo (G2E) Asia 2023 Special Edition:...
  • Novomatic’s Black Edition II cabinets at G2E in Singapore
    Novomatic’s Black Edition II cabinets at G2E in Singapore

    May 29, 2023  

    Austria-based gaming equipment maker and operator Novomatic...
  • Uplatform to show latest iGaming products at G2E Singapore
    Uplatform to show latest iGaming products at G2E Singapore

    May 25, 2023  

    Sports betting and online casino operating platform...
  • L&W ambition to be No1 in Asia well on its way: SVP gaming
    L&W ambition to be No1 in Asia well on its way: SVP...

    May 24, 2023  

    The business performance in Asia of gaming content and...
  • G2E Singapore expecting 6k visitors, 100+ exhibitors
    G2E Singapore expecting 6k visitors, 100+ exhibitors

    May 18, 2023  

    The organisers of Global Gaming Expo (G2E) Asia 2023...
  • ‘Dragon Unleashed’ slot link by L&W at G2E in Singapore
    ‘Dragon Unleashed’ slot link by L&W at G2E in...

    May 17, 2023  

    Gaming content and equipment supplier Light & Wonder...
  • Sega Sammy Creation new multi-ETG at G2E in Singapore
    Sega Sammy Creation new multi-ETG at G2E in Singapore

    May 16, 2023  

    Casino equipment maker Sega Sammy Creation Inc is to...
  • Aristocrat at G2E Asia in Singapore previews Year of Dragon
    Aristocrat at G2E Asia in Singapore previews Year of Dragon

    May 09, 2023  

    Casino slot machine and digital gaming content provider...
  • IGT ‘Prosperity’ link in Asia show debut G2E in Singapore
    IGT ‘Prosperity’ link in Asia show debut G2E in...

    May 05, 2023  

    The Global Gaming Expo (G2E) Asia event in Singapore is the...
  • Thai parliament adviser on casinos attending G2E Singapore
    Thai parliament adviser on casinos attending G2E Singapore

    May 04, 2023  

    An adviser to a Thailand parliamentary committee mulling...

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We’re interested [in entering Thailand], we’re looking… but it’s early days”

Robert Goldstein

Chairman and chief executive of casino operator Las Vegas Sands



Most Popular

  • Macau stocks tied to China outlook: Bloomberg analystMacau stocks tied to China outlook: Bloomberg analyst May 31, 2023
  • Macau May GGR tops US$1.9bln, up 6pct from Apr: govtMacau May GGR tops US$1.9bln, up 6pct from Apr: govt June 1, 2023
  • Thailand still a watch and wait: LVS chairmanThailand still a watch and wait: LVS chairman May 31, 2023

Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us