Resorts World Sentosa has launched a $5 billion waterfront expansion, set to open by 2030, with the goal of reversing its slowdown in gaming revenue.
Genting Singapore is embarking on an ambitious expansion of its flagship integrated resort, Resorts World Sentosa (RWS), with plans to complete the development by 2030. The S$6.8 billion (US$5 billion) project is designed to attract more visitors to RWS, a move aimed at reversing the decline in earnings in recent years.
On November 15, 2024, the company broke ground on the new waterfront lifestyle development, marking the beginning of construction on what is expected to be one of Singapore's most exciting new tourism attractions. The expansion will feature a waterfront promenade, a four-story retail, dining, and entertainment complex spanning 228,658 square feet, and two new luxury hotels with a combined 700 hotel rooms.
Tan Hee Teck, CEO of Genting Singapore, emphasized the scale and uniqueness of the project, describing it as "like no other before it in Singapore or the region." He added that the new development would become a "must-visit" destination in the global tourism landscape, underscoring the company’s ambition to redefine Singapore’s position as a top global tourism hub.
Adding Luxury and Leisure to RWS
The expansion is designed to enhance RWS's appeal by adding luxury accommodations and a wide array of leisure options. The two new hotels will bring the total number of hotels at RWS to eight, joining its existing six hotels: Crockfords Tower, Equarius Hotel, Equarius Villas, Hotel Michael, Hotel Ora, and a new luxury hotel set to open in 2025. The addition of 700 hotel rooms will provide more capacity for international and regional tourists, complementing the resort's extensive offerings in entertainment, dining, and gaming.
The new four-story podium will house a mix of retail outlets, world-class dining options, and entertainment spaces, creating a dynamic environment for visitors. The development aims to enhance the guest experience and drive foot traffic, attracting both tourists and locals looking for premium leisure experiences.
A Boost for Singapore’s Tourism Industry
Minister of State for Trade and Industry Alvin Tan attended the groundbreaking ceremony and highlighted the importance of Singapore's integrated resorts in the nation's tourism strategy. He noted that Singapore’s IRs have played a significant role in enhancing the city-state’s position as a leading destination for events, leisure, and entertainment. "The new waterfront lifestyle development is a key feature of RWS’s expansion and an exciting new addition to Singapore’s vibrant tourism landscape," Tan was quoted as saying in an article published by the Singaporean publication Business Times.
He also emphasized the potential economic impact of the development, stating that the project could create numerous jobs, offer new opportunities for local businesses, and contribute to the broader economy. Tan’s comments reflect the government’s ongoing support for the tourism and hospitality sectors, which have faced significant challenges due to the global pandemic and the slower-than-expected recovery of international travel.
Competition and Challenges in the Market
The major expansion at Resorts World Sentosa comes at a time of heightened competition in Singapore’s integrated resort market. Rival Marina Bay Sands (MBS), owned by Las Vegas Sands, is also investing heavily in its Singapore operations. MBS has announced a $1.75 billion refurbishment of its three hotel towers, which will add 1,850 hotel rooms to its inventory.
Looking further ahead, MBS is planning an even larger expansion with the construction of a fourth tower, expected to cost US$8 billion. Set to begin in July 2025, this expansion will add 570 more hotel rooms, a 15,000-seat entertainment arena, and additional event spaces. The scale of this project underscores the competitive nature of the Singaporean resort market and highlights the importance of continued investment to maintain a leading edge in attracting both tourists and corporate clients.
A Changing Landscape for Gaming and Tourism
The ongoing expansion efforts at both Resorts World Sentosa and Marina Bay Sands are driven by the need to adapt to changing market dynamics. While Singapore has long been a favorite destination for high-end leisure travelers, the country’s integrated resorts are facing new challenges. The global tourism industry is still recovering from the pandemic, with international visitor numbers not yet returning to pre-pandemic levels. Meanwhile, the local gaming sector is encountering increased competition from other regional gaming markets, including Macau and emerging destinations in Southeast Asia.
Despite these challenges, Genting Singapore’s decision to proceed with such a major expansion signals confidence in the long-term prospects for both RWS and the Singapore tourism industry as a whole. By diversifying its offerings and focusing on luxury accommodations, dining, and entertainment, RWS aims to attract a broader audience and position itself as a key player in Singapore’s post-pandemic tourism recovery.
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