Content Writer: Janice Chew • Sunday, 25/12/2025 - 00:14:40 - AM
Genting Singapore, the operator behind Singapore’s iconic Resorts World Sentosa (RWS) integrated resort, is considering debt financing to support the massive remainder of its SG$6.8 billion (US$5.3 billion) RWS 2.0 expansion plan, according to analysts from Morgan Stanley. The investment bank’s recent note highlighted that the company still needs roughly SG$5 billion for Phase 2 of the project, making borrowing a potentially attractive option in the current low-interest rate environment. This financing consideration comes as Genting completes earlier segments of the development and plans further rollout of major attractions.
The RWS 2.0 initiative is one of Southeast Asia’s most ambitious integrated resort upgrades and aims to transform the complex into a top-tier global destination by adding lifestyle, entertainment, and hospitality offerings alongside its traditional gaming business. Earlier portions of the project, such as the Oceanarium, the lifestyle precinct WEAVE, and the upscale hotel The Laurus, have already been delivered, positioning the resort for stronger growth ahead.
Despite optimism for future visitor numbers and revenue growth—especially with new attractions slated for launch—Morgan Stanley’s analysts remain cautious on near-term performance. They have emphasized the need to see tangible market share gains before upgrading their outlook, even as investors anticipate benefits from the Phase 1.5 enhancements in fiscal year 2026.
Central to RWS 2.0’s next phases are major additions that aim to broaden the integrated resort’s appeal beyond gaming. These include a four-story retail and dining hub, two new luxury hotels with about 700 rooms, and an eye-catching 88-meter “light sculpture” attraction that’s expected to become a signature landmark. There are also plans for immersive, experience-based attractions designed to attract families and lifestyle tourists alike.
The potential shift toward debt financing underscores the challenges of balancing ambitious capital expenditure with financial prudence, particularly as Genting Singapore navigates competitive pressures and seeks to sustain liquidity while delivering on RWS 2.0’s long-term vision. How the company funds this next growth chapter will be closely watched by investors and industry observers alike.
