Unlikely Universal will pick up Genting theme park: Maybank

It’s unlikely that Universal Studios will take over Genting Malaysia’s stalled theme park project, as it would likely cause cannibalization from their sister resort in Singapore, Maybank said in a note.

Analyst Samuel Yin Shao Yang was responding to media speculation that either Universal, or U.S. operator Six Flags may be interested.

“Universal Studios Singapore is only an hour away by plane,” he wrote. “There is bound to be cannibalization between the two if there was a Universal Studios Malaysia.”

“I am more inclined to believe that Six Flags is keen but it does not have ‘blockbuster’ IPs like the major studio houses. They are experienced in running theme parks but so is GENM.”

Genting and Twentieth Century Fox had teamed up on a branded theme park that was to form the centerpiece of the revamped Resorts World Genting. However, Fox Entertainment, which is being taken over by Walt Disney Co., recently pulled out, leaving the project in limbo.