The Beijing 2022 Winter Games will prove to be an important point of growth for Malaysia-based Genting Group, says Lim Chee Wah, the former managing director of Genting in an interview with Nikkei Asian Review.
Genting is currently developing its China-based ski resort, Genting Resort Secret Garden, which will be host to the high-profile Olympic freestyle skiing and snowboarding events come 2022.
Lim said the total planned investment of Genting Resort Secret Garden is at around US$2.74 billion, which is currently more than one third finished.
Once completed, the resort will include 88 ski runs, 22 chairlifts and approximately 10,000 hotel rooms.
While Genting’s direct revenue in China is but a whisper compared to what it gets from its gambling businesses around the world – it’s the underlying Chinese core market that is of interest to gambling operators around the world.
“By 2022, the advertising value for Genting will be tremendous,” said Lim to the Malaysia Star last year.
Snow sports have not had a strong following in China, but interest in growing. In 2000, China had around 200,000 skiers, but this number grew to 15.1 million in 2016, according to the China Ski Industry White Book compiled by Wu Bin, chief strategy officer of property developer China Vanke.
By 2022, the government is aiming for around 300 million Chinese taking part in winter sports.
The 2022 Games are “significantly important to [Secret Garden’s] development and growth,” said Lim.