GENTING MALAYSIA GITP, a major 10-year master plan launched in December 2013 for the redevelopment and transformation of Resorts World Genting ("RWG"), the internationally-acclaimed integrated resort, is currently being carried out in phases. It will offer an extensive and wide array of new and exciting entertainment options, unique to visitors from across the region.
The capital investment under Phase 1 of the GITP will increase from RM4 billion to RM8.11 billion. Under this phase, the first-ever world class branded Twentieth Century Fox World theme park will see a substantial increase in investment with more spectacular, thrilling and state-of-the-art rides than previously announced. Total investment in the Twentieth Century Fox World theme park is expected to exceed RM2 billion. With the engagement of some of the best talent in the Hollywood movie-industry to help in the design of the park, this is targeted to become a unique and compelling world-class theme park.
Meanwhile the indoor theme park will undergo a major transformation turning into a unique themed entertainment attraction offering a total of 18 rides from the existing nine, providing a new and enjoyable entertainment for both young and old alike.
Another attraction is the Sky Avenue which is poised to become the latest lifestyle mall at the Resort. With its unique position as a shopping destination situated 6,000 feet above sea level, it will complement the Group's plan to achieve its vision of attracting 30 million visitors to the Resort by year 2020.
Sky Avenue will transcend the sense of being a mere shopping destination, into the realm of a unique lifestyle experience. This vibrant shopping and dining landmark covers a gross floor area of close to a million square feet. One of the attractive features of the mall is that it is designed with open air decks that form a perfect platform for cafes and al fresco dining. With a stunning view of the Twentieth Century Fox World and an array of restaurants, its immense dining piazza offers a relaxed and inviting ambiance that's just perfect for al fresco dining with family and friends. These exciting additions will serve to create a shopping and dining experience that will distinguish RWG from other resorts in the region.
Further complementing the Group's expansion plans is the Genting Premium Outlets which will be operated at the mid-hill under the Genting umbrella. Supporting infrastructure and facilities will be enhanced and expanded to facilitate increase in visitation and to ease accessibility to RWG. This includes an additional 8,000 car park bays, bringing the total parking bays to about 18,000. The new high-speed cable car system will be able to carry up to twice the passenger capacity of the current system from the mid-hill to the hilltop.
The expansion plans also include a substantial increase in staff accommodation to cater for an additional 7,000 new job opportunities at the Resort as well as new power sub-stations and water treatment plants to cater for future growth demands.
Phase 2 of the development which is estimated to cost over RM2 billion will see the construction of additional luxury hotels at RWG, as well as an enviable new world-class show arena with a seating capacity of up to 10,000. These developments to be undertaken over the next few years, will progress in tandem with the dynamic economic environment and market demands. The Group is cognizant of the constant need to keep on adapting to the changes in consumer preferences and remains committed to further enhancing service and quality of guest experiences at RWG.
Meanwhile, the construction and development works for GITP are progressing well. Its first offering - the new 1,300-room First World Hotel Tower 3 - has been fully operational since June 2015. Other GITP attractions and facilities are expected to be opened in stages from the second half of 2016. Once completed, the Group anticipates that the GITP would elevate RWG's position as a major tourism attraction and the destination of choice in the region.
About Genting MalaysiaGenting Malaysia is one of the leading leisure and hospitality corporations in the world. Listed on Bursa Malaysia with approximately RM24 billion in market capitalisation, Genting Malaysia owns and operates major properties including Resorts World Genting, Resorts World Casino New York City, Resorts World Bimini, Resorts World Birmingham and other casinos in the United Kingdom.
Resorts World Genting is a premier leisure and entertainment resort in Malaysia. It is equipped with over 9,000 rooms spread across 6 hotels, theme parks and entertainment attractions, dining and retail outlets, international shows and business convention facilities. The Group has embarked on a 10-year master plan to reinvigorate and transform Resorts World Genting under the Genting Integrated Tourism Plan. This includes the development of the world's first Twentieth Century Fox World theme park. Its first offering - the new 1,300-room First World Hotel Tower 3 - was fully opened in June 2015. First World Hotel is now the "World's Largest Hotel", as recognised by Guinness World Records. The other attractions and facilities under the Genting Integrated Tourism Plan are expected to be opened in stages from the second half of 2016.
In Malaysia, Genting Malaysia also owns and operates Resorts World Kijal in Terengganu and Resorts World Langkawi in Langkawi.
In the United Kingdom, Genting Malaysia is one of the largest casino operators and a leading innovator in the provision of high quality customer-focused gaming. It operates 6 casinos in London and 36 casinos in the UK provinces. The Group's latest property, Resorts World Birmingham, was opened in October 2015.
In the United States of America, Genting Malaysia operates Resorts World Casino New York City, the first and only video gaming machine facility in New York City, at the site of Aqueduct Racetrack. As a premier entertainment hub, Resorts World Casino New York City offers the ultimate gaming and entertainment experience, with electronic gaming machines, shows, events and culinary delights.
In the Bahamas, the Group operates Resorts World Bimini, which features a casino, villas, other accommodations, restaurants and bars, resort amenities and the largest marina in the Bahamas.
Genting Malaysia is a member of the Genting Group, one of Asia's leading and best-managed multinationals. The Genting Group is led by Tan Sri Lim Kok Thay, a visionary entrepreneur who has established Resorts World branded properties in Malaysia, Singapore, the Philippines, the United States, the Bahamas, the United Kingdom and soon in South Korea, as well as spearheading global investments in oil palm plantations, power generation, oil & gas, property development, cruise, biotechnology and other industries.
For more information, visit http://www.gentingmalaysia.com or contact ir.genm@genting.com.
For information on the major properties of Genting Malaysia Resorts World Genting, visit www.rwgenting.com
Genting Casinos UK Limited, visit www.gentingcasinos.co.uk Resorts World Casino New York City, visit www.rwnewyork.com Resorts World Birmingham, visit www.resortsworldbirmingham.co.uk Resorts World Bimini, visit www.rwbimini.com
~ END OF RELEASE ~
Genting Malaysia Bhd issued this content on 23 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 February 2016 01:58:20 UTC
Original Document: http://www.gentingmalaysia.com/press_release/250216_Press Release-GITP(FINAL).pdf
