The Chief Executive Officer of Genting Singapore Limited, Tan Hee Teck, says the company’s SG$4.5 billion (US$3.3 billion) RWS expansion project will target the premium customer segment, with a specific focus on “young professionals”.
The update was provided during the Annual General Meeting on Saturday, which saw shareholders ask Tan a range of questions around COVID-19 recovery and the company’s plans for the near future.
According to the minutes of the meeting, shareholders queried whether there was any change to visitor demographics expected, to which Tan said Singapore was targeting business tourism and attracting high value tourists.
“RWS will therefore need to focus on this segment and develop the facilities, restaurants and hotel rooms to cater to those people,” he said.
The company also noted that the “obvious trend would be the arrival of younger professionals” and that “the management team would be incorporating initiatives in RWS 2.0 to address this trend of change in demographics.”
On gaming specifically, Tan noted that this segment would “continue to be an important revenue source and RWS was now looking at broadening its customer base to those who engage in casual play for entertainment.
“The company hoped that over the next two to three years, RWS would transform the resort to cater to such customers.”
Tan warned that recovery would take some time due to labour issues in the hospitality industry but expressed confidence that business levels would return to normal due to pent-up travel demand.
Genting Singapore recently reported a 13% year-on-year and 21% sequential increase in revenues to SG$315 million (US$225 million) at Resorts World Sentosa in the three months to 31 March 2022.
