Genting Singapore Optimistic About Chinese Arrivals Amidst Gaming Advisory

In response to major shareholder concerns, Genting Singapore has released information on its financial outlook and strategic direction as it gets ready for its annual general meeting on April 18.

Genting Singapore is optimistic about the rise in Chinese visitors despite concerns about the effects of Chinese visitor trends and recent warnings, pointing to the streamlined visa procedures between Singapore and China.

The company anticipates that Resorts World Sentosa’s performance will improve with this inflow.

In response to inquiries regarding the cautionary statement issued by the Chinese Embassy in Singapore, Genting Singapore highlights its dedication to broadening its services beyond gaming. Future expansion plans for Resorts World Sentosa, such the Asia Premiere and themed attractions like Harry Potter: Visions of Magic and Illumination’s Minion Land, are anticipated to increase the resort’s appeal and draw visitors from a variety of markets and demographics.

Genting Singapore reassures investors that the majority of its ambitious SG$6.8 billion ($5 billion) investment in Resorts World Sentosa’s transformation will be paid domestically, allaying concerns about the venture’s immediate impact on profitability.

Genting Singapore also allays worries regarding share awards to independent directors by emphasizing their link to shareholder interests and putting them under vesting and selling moratoriums to guarantee sustained commitment.

Despite shifting market dynamics and shareholder expectations, Genting Singapore is nevertheless prepared for strategic expansion. The company’s fiscal year 2023 net profit increased by 80% year over year, and Resorts World Sentosa delivered solid results.

Original Story by: Asian Gaming Brief