The Genting Group is already planning to build a huge mall, another resort, and an even “more interactive theme park” just across the Causeway in Iskandar Malaysia, as it prepares to launch its casino and theme park at Resorts World Sentosa (RWS).
“We want visitors to Sentosa to come to our Malaysian resorts as well,” said Chief Executive Officer Lim Kok Thay at the 45th anniversary celebration of the company.
The forthcoming development, which expects to draw millions of visitors from Singapore when it gets off the ground in two years, will be built near the mid-point of the operations of the group in Singapore and Pahang.
Asia’s largest publicly traded casino operator, Genting and US-based joint-venture partner Simon Property Group, have already invested an initial RM200 million (S$83 million) in the Chelsea designer discount shopping complex in Iskandar Malaysia, a special economic development zone in Johor.
The 60 high-end brand shops in the Kulai mall have already been completely taken up, and Genting is in the middle of designing a larger-scale development to capitalize on the expected increase in tourists from Singapore and locally, who they expect will be drawn to the 25 to 65 percent discounts offered on designer labels.
According to Mr. Lim, the proposed resort development and theme park will be centered around the mall. He added that Genting has reserved an estimated 4,050 hectares for the project.
“We can make Iskandar a hub and offer tourists a complete holiday package,” said Mr. Lim, adding that the development may draw “millions of visitors” each year when it is completed within two years.
Genting invested US$200 million in the gaming company MGM Mirage in Las Vegas last year – half in a 3.2 percent equity stake and half in its bonds – and now it may be looking to venture further.
“If there are opportunities in the US, I am sure we will look at that. We do have great financial strength, so we can take on a large project,” said Mr. Lim, adding that the group is aiming to become a global player.