Genting Singapore to delay RWS 2.0 development to 2022
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Genting Singapore will delay development of its SG$4.5 billion Resorts World Sentosa expansion project until 2022 due to various impacts as a result of COVID-19.
Management provided the update during Genting Singapore’s FY20 earnings call last week, although details were largely absent from analyst updates until outlined by Union Gaming’s John DeCree in a Wednesday note.
According to DeCree, the company said the decision to delay development of RWS 2.0 was prompted by disruptions across the supply chain and labor force, as well as major design changes to cater to health and safety requirements as well as changing market dynamics in the VIP segment.