Genting ready to go in Singapore
Genting Singapore is ready to start operating Singapore’s first legal casino as soon as the city-state’s government issues it a gambling license, the company said.
“We are ready,” Robin Goh, a spokesman for parent company Resorts World, told Bloomberg. “We can open the casino as soon as we have the license.”
The company wants to be open for this month’s lucrative Chinese New Year holiday.
Four hotels and 10 restaurants within the $4.5 billion Sentosa Island resort earlier this month. A Universal Studios theme park in the complex is also waiting for a license to operate and will open as soon as that is issued, Goh said.
Singapore’s second megaresort, Marina Bay Sands, being built by U.S.-based Las Vegas Sands, will open later this year.
“We believe Resorts World will get their gaming license before Chinese New Year,” Aaron Fischer, a gaming analyst at CLSA Asia Pacific Markets in Hong Kong, said.
In a recent report, CLSA said it estimates Resorts World’s gaming revenue to rise from $2.5 billion this year to $3.8 billion by 2013. The Singapore casino market will generate $3 billion in revenue this year, growing to $6 billion in 2013, CLSA said.