PRESIDENT AND COO
Genting Singapore
CHAIRMAN AND CEO
Resorts World Sentosa
POWER SCORE: 1,074
POSITION LAST YEAR: 29
CLAIMS TO FAME
• Runs Resorts World Sentosa, Genting Group’s most profitable property
• Headed successful bid for Singapore gaming license, trying for repeat in Japan
Genting Singapore’s Resorts World Sentosa is on track for gross gaming revenue of SG$1.8 billion (US$1.3 billion) and EBITDA of SG$1.3 billion this year. That’s impressive, though second best in town to Marina Bay Sands. Exceptionally high VIP hold in the second quarter pushed RW Sentosa’s gaming market share to 44% from its usual hover point around 40%.
Number two status extends to the Singapore government deal for a SG$4.5 billion expansion at each IR. RW Sentosa enhancements include new hotels adding up to 1,100 rooms, Universal Studios additions and a free public attraction highlighting a waterfront promenade. With the investment, RW Sentosa can expand gaming by 500 square meters and 800 machines, while MBS gets 2,000 square meters and 1,000 machines.
Genting Singapore President and COO Tan Hee Teck, who runs RW Sentosa, spearheaded the Singapore IR drive and now leads the Japan license effort.
“The IR industry in Japan is expected to be a stringently regulated one, so we are hopeful that our track record of operating in a very tightly regulated environment in Singapore will give us an edge,” Tan’s boss, Chairman Lim Kok Thay, wrote in Genting Singapore’s annual report.
Japan mandates only one IR per local jurisdiction, so if Genting wins, it’s sure to be number one in town.
For the full list of 2019 Asian Gaming Power 50 winners, click here.
