Casino operator Genting Malaysia BHD hopes to bring more tourists to its Resorts World Genting (RWG) casino resort once the redevelopment of the gambling facility is completed.
Online travel publication Travel Biz Monitor reported that Genting plans to attract more visitors from across the globe by showcasing the new and improved attractions of its Malaysian integrated resort, including the world’s first Twentieth Century Fox World (Fox) theme park and its indoor theme park, Sky Troopolis.
The aging Sky Troopolis is scheduled to be reopened to the public in February 2018 after undergoing an intensive renovation, which started more than four years ago.
RWG also plans to open the $490.7 million Fox theme park late next year. The company said that it will have 25 rides and attractions.
Ajay Sharma, country manager for India at RWG, estimates that the number of tourists from India will grow to 300,000 in 2020 from 250,000 in 2013.
“As we are expecting to push the number of overall visitors to 30 million by 2020, and India being among our top 4 markets in terms of foreign arrivals, we are expecting around 30,000 visitors from India as staying guests,” Sharma said, according to the news outlet.
Sharma said RWG will soon offer guests a three-night stay package instead of the usual two nights.
RWG is showing signs of aging. The casino resort, which celebrated its 52nd anniversary this year, registered a compound annual growth rate (CAGR) of only 2.9 percent in the previous years even though overall tourist arrivals in Malaysia have been relatively strong and exhibited a CAGR of 5.7 percent in the 2004-2014 period.
To improve foot traffic in the integrated resort, Genting embarked on a multi-billion renovation project dubbed as the Genting Integrated Tourism Plan (GITP) in 2013. Brokerages described RWG’s major overhaul as “credit positive,” since it will also result in a 100 to 300 increase in casino tables. The additional offerings will be geared towards the premium mass market, as Genting has been looking to achieve a 50-50 revenue split between its mass market and VIP segments.