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An Integrated Resort is a Singaporean euphemism for a casino-based development. To date, licenses have been awarded to Marina Bay Sands and Resorts World at Sentosa. These are planned to be completed in 2009, and would be the first casinos in the country. Singapore lifted a 40-year ban against casinos just over a year ago as part of an effort to boost tourism and stimulate the island-state's transition to a service economy as more manufacturing jobs shift to countries with lower labor costs. The tourism sector has performed very well in recent years. With the two IRs coming onstream in the next few years, as well as other major tourism projects, the positive outlook of the industry looks set to continue.
"What we're really after is to create a compelling, critical mass of attractions and services, which will then attract sufficient flow of human traffic to Singapore and make all this viable," Vivian Balakrishnan, Singapore's minister for community development, youth and sports said in an interview. Resorts World at SentosaWeekend shoppers will have more to do in 2010 than just hit the mall at VivoCity when Resorts World welcomes holidaymakers. And it seems the arrival of Universal Studios Singapore is creating a huge buzz as most are excited that the theme park will be within reach and highly accessible. The facade of Sentosa will change in four years' time and retailers at VivoCity are positive about the development, saying the close proximity will have a definite spillover effect on their business. The proposed world-class resort, suitably named Resorts World at Sentosa, is destined to be Asia’s most mesmerising family resort and will entrench Singapore as one of world’s leading leisure holiday destinations. They are both established names in the region in the leisure, hospitality and gaming industries and boast a customer base spanning the globe with an impeccable track record, excellent industry relationships and an unrivalled sales and marketing distribution network in Asia and beyond. It will be develope on the island of Sentosa, off the southern coast of Singapore. The S$5.2 billion dollar integrated resort is currently being planned by Genting International and Star Cruises, who hold a 75% and 25% stake in the project, respectively. Genting Group is one of Asia’s best managed multinational corporations with over 40,000 employees globally, and 11,000 acres of prime resort land, among its other diverse holdings. The Group is renowned for its strong management leadership, financial prudence and sound investment discipline. The Group comprises five listed companies with a combined total market capitalisation of over US$11 billion, as at 9 October 2006. The 49 hectare integrated resort will cost S$600 million solely for land, and S$1.6 billion just on a Universal Studios theme park called Universal Studios Singapore. "This domain is for SALE!"; Resorts World at Sentosa will be Singapore’s landmark holiday destination that encapsulates fun-filled experiences with leisure, entertainment and edutainment attractions for everyone. Through the pan-regional presence of Star Cruises, our resort will also benefit regional tourism as it will create a sustained spillover of visitors to the neighbouring destinations. In addition, it will be offering a total of six exceptional and uniquely designed hotels, providing a wide array of world-class accommodation for all visitors. Resorts World at Sentosa will also offer other family entertainment experiences such as Quest Marine Life Park an oceanarium spanning 8 hectares with the largest single marine tank in the world, a 6.5 million gallon Whale Shark Lagoon, and interactive dolphin habitat, operated by the world-renowned Dolphin Quest. With a soft opening planned for end 2009, Resorts World at Sentosa aims to attract 10 million visitors by 2015 with its diverse range of attractions and distinctive experiences which is currently not found anywhere else in the region. Other key features will include Maritime Xperiential Museum, the only museum in the world dedicated to the celebration of the maritime heritage of Asia. It will also have a water theme park Equarius Water Park that will incorporate the latest technology, amidst Sentosa’s natural canopy of primary forest. The Genting International-Star Cruises consortium officially took over the site for the Sentosa integrated resort on Thursday after paying S$605 million for the land premium. Genting International and Star Cruises will be hiring over 150 people for areas such as project management, marketing and corporate services. Key appointments in project development, human resources, finance, legal, corporate services and information technology have been made, with the executives coming on board over the next two months. There will be a recruitment drive in the United States to hire top creative talent for the various movie- and show-themed attractions. The resort will definitely boost Singapore labour market by creating some 45,000 new jobs in the economy. Furthermore, it will also provide new and exciting career opportunities in the leisure and entertainment industry for many Singaporeans. Thus, Singapore will be elevated as the preferred leisure holiday destination for families, a place that people will want to visit, stay and come back for more, again and again. Resorts World at Sentosa shall be the anchor and catalyst for an exciting new phase in Singapore’s tourism industry. Resorts World at Sentosa expects to award tenders worth S$508 million for construction and development services such as road diversion, reclamation works and site formation. These contracts will provide opportunities for our local SMEs and bring about significant job creation in the construction industry. Resorts World at Sentosa will be a world-class themed destination offering the largest Universal Studios in Asia, a marine life park, water theme park and maritime museum. In addition, visitors can also enjoy a myriad of retail and entertainment options as well as six hotels offering over 1,800 rooms. Thus, it will significantly strengthen Singapore’s attractiveness as a leisure destination of choice for families. In particular, it will strengthen Sentosa’s island resort offerings and contribute to the buzz of activities and attractions at the Southern Waterfront precinct. Genting, via its subsidiary Genting International and associated company Star Cruises Ltd, made a US$3.1 billion (RM11 billion) proposal, which will include Universal Studios Singapore, the region’s first Universal Studios theme park. The theme park will include DreamWorks Digital Animation Studios. Star Cruises, which is listed in Hong Kong, is 36% owned by Resorts World, which in turn is 57.7% owned by Genting. Recommended Sites:
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