The opening of Genting SkyWorlds, the highly anticipated outdoor theme park at Resorts World Genting has been delayed to the third quarter of 2021 due to the impact of Covid-19.
Resort World Genting had been temporarily suspended and still remain closed since the start of Malaysia’s Movement Control Order on 18 March 2020.
“The most negative announcement from Genting Malaysia was the delay of the theme park opening date from 2020 to third quarter 2021 due to travel restrictions and weak demand during Covid-19” Tushar Mohata & Alpa Aggarwal, Nomura Research.
Impact of Covid-19
Genting Bhd sank into the red with a net loss of RM133.32 million for the first quarter ended March 31, 2020 (1QFY20), from a net profit of RM561.64 million last year.
Genting also announced it will undertake mutual and voluntary separation schemes for its employees to further mitigate the adverse financial impact from the ongoing Covid-19 pandemic.
Resorts World Genting’s businesses support more than 70,000 jobs in Malaysia.