Genting Malaysia says SkyWorld attractions rollout a focus

Genting Skyworlds, Malaysia

Genting Malaysia said it expects the reopening of international borders to aid its recovery, while rolling out more attractions at its SkyWorld theme park is a focus.

In an investor presentation this month, Genting said it intends to maximize yield at its Malaysian property by intensifying database analytics and targeted marketing efforts. 

It also plans to boost operational efficiencies and improve the quality of guest experience.

Malaysia’s monopoly casino operator, which derives the majority of its revenue from its domestic operations, opened its delayed SkyWorlds theme park in February this year, which analysts expect to be a key driver of visitation to the property.

The park is the centerpiece of the MYR10.38 billion ($2.46 billion) Genting Integrated Tourism Plan, which adds new hotel rooms and facilities to Resorts World Genting (RWG). It also increased the size of the casino floor. 

However, the ramp up has been slower-than-anticipated and only about three-quarters of its attractions are open.

A progressive rollout of the remaining rides is a “focus” it said. 

Genting Malaysia also has properties in the U.K., Egypt, North America and the Bahamas.

The U.S. has been a key focus, where it says it’s seeking to reinforce its position as the leading operator in the northeast region.

It plans to intensify its marketing efforts to expand the U.S. customer base. 

It also plans to leverage improved facilities at its Resorts World New York City and its expanded product offerings to drive business volumes.

The U.S. has seen a strong recovery, with gross gambling revenue mostly solidly above pre-pandemic levels.