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Genting Malaysia theme park seen opening in Q3/2020

Genting Malaysia is planning a soft opening of its theme park at Resorts World Genting in Q3, 2020, though the park will be more expensive than anticipated, according to a note from Maybank.

The company will incur more capex in a push to get the attraction finished, although it hasn’t specified by how much, analyst Samuel Yin Shao Yang wrote. He added the extra expenditure was unexpected. The bank will maintain its hold call on the company’s shares.

The Genting Outdoor Theme Park is a central plank of a multi-billion dollar revamp of its Malaysian resort. However, the project has faced delays and its future was put in doubt after partner 20th Century Fox pulled out. That decision lead to a court battle that was resolved three months ago.

Genting hosted an investor tour of the attraction last Friday. The main construction work is likely to be finished in Q1, though Fox and Disney will need several months of ride testing before it can open.

The park will have 25 rides on 26 acres once fully built out. For the soft open, it will have 20 rides featuring Fox intellectual property, while a further five may use themes from other studios. 

It will have seven restaurants and 11 food kiosks.

The theme park is expected to significantly boost visitation to the mountain resort, located in the Genting Highlands. 

Genting didn’t provide guidance on ticket prices, but did say it will employ dynamic pricing, for example higher in peak periods. 

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