Genting SkyWorlds, the new outdoor theme park at Malaysian casino complex Resorts World Genting, might now only open in December, linked to a possible three-month closure of the property amid the Covid-19 pandemic.
As a result, the investment bank is reducing its forecast for 2021 visitor numbers at the resort to 8.5 million, from 12 million. The theme park was touted as a likely major draw for tourists.
Maybank is also widening its figure for the expected 2021 core net loss for the resort’s promoter, Genting Malaysia Bhd, by 76 percent, to MYR676 million (US$164.1 million).
Last month, Genting Malaysia said it was working towards” the completion of the outdoor theme park “in the third quarter of 2021”.
“We gather that Resorts World Genting will be shut for three months this time, and Genting SkyWorlds will only open in December 2021 to coincide with school holidays,” in Malaysia, running from December 10 to December 31, said the memo from Maybank analyst Samuel Yin Shao Yang.
Due to what Maybank called a “recent surge” in new Covid-19 cases in Malaysia; Resorts World Genting, located outside the country’s capital Kuala Lumpur, was shut completely for the time being, on May 31. The gaming operation had been temporarily closed a week earlier, on May 24.
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