Genting Singapore, owned by Malaysian billionaire Lim Kok Thay, is increasing the number of rooms available at its casino resort by more than 40 percent to capitalize on the surge in demand for lodging in the Lion City following the recent epidemic.
According to a list of projects authorized by the URA in the third quarter, Resorts World Sentosa (RWS), a wholly owned subsidiary of Genting Singapore, has acquired provisional permission to construct 700 additional hotel rooms and retail space with a gross floor area of 21,243 square meters. Also, you can use popular casino strategies on its gaming floor.
Genting to Invest in Singapore’s Gambling Industry
RWS is undertaking a S$4.5 billion ($3.3 billion) renovation to update the non-gaming attractions within the casino resort, including the five hotels that total over 1,600 rooms, the Universal Studios amusement park, and the SEA Aquarium, which is home to approximately 100,000 marine species.
The city-state of Singapore hosted a succession of prominent international events, such as the Formula One Singapore Grand Prix, leading to a 14 percent increase in average accommodation rates to a new high of S$325.24 in September from a year before.
Lim, a billionaire in the gaming industry, owns a slew of international corporations, including Genting Singapore. When the latest list of Malaysia’s 50 Richest was published in May, Lim had a net worth of $2.3 billion and owned casino resorts in Malaysia, the United Kingdom, the United States, and the Bahamas.