Chairman and CEO of Genting, Lim Kok Thay, announced that its theme park is still an ongoing plan, which will be all set by early 2019.
Mr. Lim has high hope that the theme park would be ready by January of next year, however, reiterating that the “new twist is a surprise” for them.
Genting Malaysia recently battles against Twenty-First Century Fox and Walt Disney, particularly a more-than-$1 billion lawsuit.
The company accuses both industry giants of backing out from their contract specifically in the planned construction of Genting’s first-ever theme park with Fox-branded features, locate at the complex of Resorts World Genting.
Despite this, Mr. Lim assured that the plans are all set and in place.
Moreover, there are greater plans for the project and the theme park is just a small part of the expansion plans for Genting, particularly for the integrate resort based in the highlands.
Mr. Lim expects the project to generate revenue for the company as well as value to its shareholders.
He stated, “The Genting Highlands expansion plans are up and implementation of the plans are complete in phases. Moreover, there is a growth in the visits to the area, hence, the growing revenue and so on.”
“Shareholders will receive values as the plans are absolutely on track.”
New markets are also being explored as per the confirmation of the casino operator.
The venture includes work towards possible bidding process specifically for Japanese integrated resorts.
It is an up and coming gaming industry with growth potentials that would rival the Las Vegas and Macau industries, Mr. Lim added.
The Genting exec expects bidding to start particularly in 2019’s later half. Nevertheless, he did not add more information regarding the status of a possible bid for the integrated resort.
He reiterated, “My knowledge is quite the same as what you have read in the papers.”
Genting Singapore is reportedly spearheading the bid although Mr. Lim is quite prompt in pointing out that nothing is finalized as of yet.
He added that “the transactions are not yet in black and white especially in what would be the designated company to receive such responsibility.”
“As a group, Genting Singapore feels that the company should be the leader of the transaction before too much information is divulged to the public. Moreover, if ever the company would require support or help, other departments should be able to contribute.”
This could possibly be another venue for Genting to try entering the Macau market.
Mr. Lim answered the question as to whether the company would be bidding for a Macau gaming license, stating that this may not happen until 2020, which is quite early.
However, it is happening most likely in 2022 as the Macau government is still pending updates.
He added, “Genting is interested but still do not know the terms, just like in the case of Japan. Thus, just like Japan, the company is in the position to wait and see particularly in line with the Macau government’s decisions regarding the matter at hand.”