Resorts World Sentosa (RWS) enters 2026 at a pivotal moment, seeking to revive post-pandemic tourism momentum and secure a fresh three-year casino license in Singapore.
The year is a critical one for the integrated resort, as it works to lift visitation levels and rebuild confidence among regulators and investors. In 2024, the Singapore Gambling Regulatory Authority (GRA) flagged RWS for underperformance between 2021 and 2023, citing concerns over its ability to “develop, maintain and promote its integrated resort as a compelling tourist destination” aligned with market demand and industry standards.
As a result, the GRA renewed RWS’ license on a provisional basis for the first time, granting a shortened two-year term instead of the usual three. That term took effect on 6 February 2025.
Expansion to add “depth, variety and quality”
In response, RWS is pressing ahead with a US$5.3 billion multi-year expansion aimed at recapturing former visitors, attracting new audiences and encouraging longer stays.
The redevelopment rests on four pillars: entertainment, hospitality, lifestyle and marine discovery. New additions include Minion Land at Universal Studios Singapore, the all-suite Laurus hotel launched last October, and plans for another luxury hotel brand. Lifestyle offerings are anchored by Weave, a large-scale dining and retail precinct, while the Singapore Oceanarium—rebuilt on the former SEA Aquarium site—houses more than 40,000 marine animals and ranks among the world’s largest aquariums.
“Traveler’s today expect depth, variety and quality within a single trip,” said RWS CEO Lee Shi Ruh. “Our goal is to create experiences that resonate deeply with guests while delivering sustainable, long-term value for Singapore and our shareholders.”
Lee, who is also president and COO of Genting Singapore, said the RWS 2.0 transformation is “guided by data, scenario analysis and financial discipline.” Once complete, the project will expand the resort by more than 164,000 square meters, increasing gross floor area by about 50%.
Broadening appeal beyond gaming
Opened in 2010, RWS is one of Singapore’s two integrated resorts, alongside Marina Bay Sands (MBS), which has long dominated the market. In the third quarter of 2025, MBS reported an 83% year-on-year surge in adjusted EBITDA to US$743 million, with revenue jumping 56.3% to US$1.44 billion.
Genting Singapore posted more modest but improving results. Quarterly revenue rose 16% year-on-year to US$473 million, while adjusted EBITDA increased 36% to US$162 million, driven by higher VIP volumes and increased foot traffic. The group said its revitalization efforts are “progressing well.”
RWS is placing greater emphasis on experiences that appeal to both gaming and non-gaming visitors. “In the past, some guests came to gamble and then left straight away,” Lee told The Straits Times. “We want them to feel there is more to do—eat, drink, socialize and spend time with family and friends—with something new every two to three weeks.”
License reassessment ahead
By 2030, when the expansion is fully completed, RWS will present “a distinctly renewed identity” aligned with Singapore’s tourism vision, Lee said, highlighting the integration of leisure, culture, hospitality and public spaces within a single island destination just minutes from the city.
In a 2025 interview with CNBC, Lee said RWS would “be ready” when regulators reassess its license suitability later this year, ahead of the February 2027 renewal decision.
Meanwhile, rival Marina Bay Sands is also expanding, with Las Vegas Sands committing US$8 billion to a fourth hotel tower, a 15,000-seat arena and new event spaces, slated for completion in summer 2029.
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