Genting Singapore, the entity behind Resorts World Sentosa (RWS), is expressing strong confidence in its prospects for obtaining a renewed gaming licence by 2027. The company is keenly aware of the potential repercussions of global events, particularly the ongoing conflict in Iran, on tourism patterns.
Recently, Genting Singapore characterized itself as "well-positioned" for the upcoming evaluation of its gaming licence. In an unprecedented move, the Singapore Gambling Regulatory Authority (GRA) granted a provisional two-year renewal of the resort's gaming licence in February 2024. This decision came after the GRA highlighted concerns regarding RWS's ability to maintain its status as a compelling tourist destination from 2021 to 2023.
In response to these challenges, RWS has ramped up efforts on its ambitious US$5.3 billion waterfront expansion project, aimed at enhancing visitor experiences and encouraging longer stays. The resort has committed to bolstering its reputation as a premium lifestyle destination for both locals and tourists. Key additions include the Minion Land theme park, the luxurious all-suite Laurus hotel, and a new dining and retail district known as Weave. The Singapore Tourism Bureau (STB) has recognized the new Singapore Oceanarium as a significant enhancement to the local tourism scene, which officially opened in July 2025.
Genting Singapore's Geopolitical Awareness
During a recent shareholder meeting, Genting Singapore attributed the shortened licence term to the widespread ramifications of the Covid-19 pandemic. The company noted, "Since then, the group has progressed its RWS 2.0 transformation in alignment with Singapore’s tourism strategy." It expressed confidence regarding the next assessment cycle, which will take place ahead of its annual general meeting scheduled for April 15.
According to the STB, Singapore welcomed 19.9 million international visitors in 2025, marking a 2.3% increase year-on-year. For the current year, the agency projects between 17 million and 18 million tourists, adopting a cautious approach in light of ongoing global economic uncertainty and political instability that continues to shape travel trends.
Genting Singapore is also attuned to these global dynamics and their possible effects on tourism. The company stated, "The group continues to actively monitor geopolitical developments in the Middle East." With the situation evolving, it plans to watch international travel trends, cost conditions, and broader macroeconomic sentiment closely.
In the long run, Genting believes that its diversified integrated resort offerings, solid financial standing, and Singapore's reputation as a safe, well-regulated, and connected destination will enable it to navigate external uncertainties while maintaining operational resilience.
However, the company faced financial hurdles in 2025, reporting a decline in earnings due to development expenditures, ongoing renovations, and a lower win rate at its casino. Adjusted EBITDA fell by 17% year-on-year, while overall revenue dropped by 3% to US$1.93 billion. Gaming revenue decreased by 6% to US$1.26 billion, and net profits plummeted by 33% compared to 2024. In contrast, non-gaming revenue saw a modest increase, rising by 3% to $669 million.
Looking ahead, RWS CEO Lee Shi Ruh assured stakeholders in a 2025 interview that the resort will be fully prepared for the upcoming regulatory review of its licence suitability ahead of the February 2027 renewal.
About the Author
Marjorie Preston has been immersed in the gaming sector since 2007, with a keen focus on Asian markets from 2020 onward. Outside her professional pursuits, she enjoys writing about travel and film, and she is also a passionate drummer.
Comments