Casino operator Genting Malaysia Bhd says it still plans to open a new theme park at its Resorts World Genting casino resort; however, the firm says the opening date for the non-gaming facility is yet to be confirmed.
The clarification came after company chairman and chief executive Lim Kok Thay told Singapore-based newspaper Business Times over the weekend that the theme park would be – in the words of the newspaper, indirectly citing the entrepreneur – “ready” early next year.
Genting Malaysia is suing Fox Entertainment Group LLC and some related companies, as well as The Walt Disney Co – currently suitor to many of the Fox brand’s entertainment assets – for more than US$1 billion, accusing them of backing out of a contract arising from the Genting Malaysia plan to build a theme park bearing the 21st Century Fox brand for the Resorts World Genting, a casino resort (pictured in a file photo) near Malaysia’s capital Kuala Lumpur.
In a clarification filed with Bursa Malaysia on Thursday, Genting Malaysia stated it had “noted various media reports in connection with the opening of the proposed outdoor theme park, which is now the subject of ongoing legal proceedings”.
The firm added it wished to clarify that an outdoor theme park remained part of Genting Malaysia’s growth plans for Resorts World Genting.
“The management of Genting Malaysia is considering various options for the outdoor theme park,” the filing added. “The opening date of the outdoor theme park is dependent on the options to be pursued by Genting Malaysia.”
Resorts World Genting is Malaysia’s only legal casino resort, and also known as Genting Highlands. The property is currently undergoing an extensive revamp. The project – dubbed the Genting Integrated Tourism Plan (GITP) – was launched in December 2013. It is a multi-phase initiative described as a 10-year, MYR10-billion (US$2.39-billion) master plan. The Malaysian property has already opened several new facilities and attractions; one of the new main attractions under the GITP would be the 20th Century Fox World Theme Park now involved in a legal tussle.
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"Genting was always facing an uphill battle to displace an existing concessionaire"
Founder of consultancy Newpage Consulting