Genting Singapore, a subsidiary of the Genting Group chaired by billionaire Lim Kok Thay, has received provisional approval from the Urban Redevelopment Authority to add 700 new hotel rooms to Resorts World Sentosa (RWS). This expansion also includes a retail space covering 21,243 square meters, resulting in a 40% increase. RWS, owned entirely by Genting Singapore, is currently undergoing a SG$4.5 billion ($3.3 billion) renovation project. The focus of this refurbishment is to enhance the non-gaming attractions at the casino resort, including the Universal Studios theme park and the SEA Aquarium, which houses around 100,000 marine animals. This approval comes at a time when average room rates in Singapore have surged by 14%, reaching a new high of SG$325.24 in September, thanks to major international events such as the Formula One Singapore Grand Prix. Genting Singapore is part of a global business empire that includes casino resorts in Malaysia, the UK, the US, and the Bahamas. As of May, Lim Kok Thay was estimated to have a net worth of $2.3 billion. RWS has also made significant efforts to develop its employees’ skills, with almost 300,000 hours of training accumulated in 2022. In addition, the financial reports for the first half of 2023 have shown impressive results for Genting Singapore, with a 54% increase in revenue and noteworthy growth in both gaming and non-gaming sectors.

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