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Resorts World Singapore to Open Ahead of Schedule



Resorts World, one of the two new Integrated Resorts being build in Singapore is to open ahead of schedule, maybe as early as December 2009, instead of  its original target of early 2010. It’s rival Marina Bay Sands is plagued with delays and is not due to open until at least April 2010, giving Resorts World Casino a head start.

Resorts World Casino. Singapore

On this announcement, the company developing the US$6.6 billion casino resort Genting Singapore, saw its stock jump 9.3% to a record high of US$1.17, it last traded at US$1.15 also a 7.5% high increase, which was the highest since listing in September 1991.

Analysts estimate that Genting Singapore stock could be worth as much as US$3 based on the city-state’s potential gaming revenue of between US$3.2 billion and US$4.7 billion once the two casinos open next year. This is in comparison with Macau’s 2008 US$14 billion gaming revenue.

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