Tuesday, December 17, 2013

Genting Malaysia To Invest RM1 Billion In New Theme Park With Twentieth Century

photo: rwgenting
GENTING HIGHLANDS, Dec 17 (Bernama) -- Genting Malaysia Bhd will invest at least RM1 billion in a new theme park with Hollywood studio Twentieth Century Fox, up from RM400 million it announced in July.

The move is part of its strategy in wooing the growing number of China tourists, said the operator of Resorts World Genting.

"We are determined to make it happen... to build a world-class theme park which is unique from other competitors," chairman Tan Sri Lim Kok Thay told reporters after the launch of the Genting Integrated Tourism Plan here Tuesday by Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister.

Genting and Twentieth Century Fox weren't sure of the sheer size of the theme park when the project was conceived, because it was the first of its kind in the world, Lim said.

With more plans being firmed out, the company now hopes to launch the theme park by the end of 2015, to coincide with the 50th anniversary of Resorts World Genting.

The theme park was earlier reported to have 25 rides featuring movies like Ice Age, Rio, Alien & Predator and Night at the Museum, a move analysts said would rejuvenate Genting's non-gaming elements and create wider appeal.

Lim said the launch of Shanghai Disney Resort by late 2015 will whet China tourists' appetite for world-class theme parks, which will benefit Genting and pave the way for similar Twentieth Century Fox projects in China in the future.

The theme park is part of Genting's newly announced RM5 billion, five-year plan to revamp the resort to increase its overall appeal amid intense competition from other gaming hubs such as Macao and Singapore.

After the first five years, it has plans to kick off a second phase that will involve the establishment of a six-star hotel to target high rollers from China, Lim added.


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