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    Resorts World Genting theme park

    In light of the current global uncertainty, Genting Malaysia made the following statement regarding the theme park. “In Malaysia, we remain focused on the timely completion of the outdoor theme park as ongoing development works approach its final stages.”

    “Pre-opening arrangements for the theme park are currently underway as the group prepares to capitalise on the growth in visitation once the domestic and regional tourism sector recovers.”

    RWG theme park late 2020 opening

    The new outdoor theme park, which is being built at Resorts World Genting, was expected to open in the third quarter of 2020. The cost of the theme park was forecasted to go beyond $700 million.

    The park is expected to have 20 rides using Fox IP, with suggestions that there might be five more rides using IPs from different studios. Two rides may run underground.

    In early 2019, Fox made a counterclaim against Genting Malaysia Bhd for US$46.4 million in an ongoing case surrounding the theme park.

    Genting Malaysia then reached a settlement agreement with 21st Century Fox and The Walt Disney Company over the theme park. The dispute was fully resolved and allows the park to use Fox IP, but it will no longer be called ‘Fox World’.
    Source: https://blooloop.com/news/genting-malaysia-theme-park-rwg-covid-19/
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    Management is confident that the OTP will open by 3Q20 (in line with our assumption) and stated that it is currently restarting the process that was stopped last year.

    Genting Malaysia to finish all construction work on the theme park by 1Q20 in order to fully test all rides and provide Fox Disney the chance to provide final certification.

    It is expected that the theme park will have 25 rides when complete, some of which will utilize Fox intellectual properties as part of a recent settlement agreement reached between Genting Malaysia, Twenty-First Century Fox Inc and Walt Disney Co.

    For the remaining five rides, Genting Malaysia may employ intellectual properties from other studios but has not decided on which ones yet. This is why the outdoor theme park cannot reassume its previous name, 20th Century Fox World.
    Source: https://www.asgam.com/index.php/2019/10/22/costs-rise-for-genting-malaysia-but-highlands-theme-park-on-track-for-3q20-launch/
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    4. Genting Malaysia is on track to launch its outdoor theme park in 3Q next year, with day passes expected to be priced at around RM200/day.
    Source: https://www.theedgemarkets.com/article/evening-5-five-things-you-need-know-today-45
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    An interesting article by a Malaysian about how Genting fought Fox and Disney over the termination of licensing of Fox’s IP. Luckily, all the parties have reconciled and entered into a new agreement. The park is finally going to launch sometime in 2020

    https://asklegal.my/p/genting-disney-fox-theme-park-intellectual-property-lawsuit
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    Amazing on site video

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    Lake Show






    URL="https://i.ibb.co/QdVWyYX/C758-E5-BD-3633-4-C9-E-974-E-DD62-FC1721-C8.jpg"][/URL]
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    The park may also feature Marvel and Six Flags’ intellectual properties!!!

    “Genting Malaysia is currently updating its development and construction plans to complete the outdoor theme park utilising both Fox and non-Fox intellectual properties. The outdoor theme park shall also be renamed” said the group in the filing.
    KUALA LUMPUR: After a major fall-out last year, Genting Malaysia Bhd’s much-delayed outdoor theme park is back on track and potentially even improved as not only will it feature some of the popular characters from 21st Century Fox, but possibly even a number of Marvel’s — another Disney-owned brand.
    Recently, it is understood that three parties, including Marvel and US-based theme park brand Six Flags, approached Genting Malaysia to take over the spot vacated by 21st Century Fox — prompting market speculation of Marvel’s involvement in the theme park.
    Source:https://www.theedgemarkets.com/article/genting-theme-park-back-track-what-marvel
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    Great news!!!

    Genting Malaysia reaches settlement over outdoor theme park development

    Genting Malaysia is currently updating its development and construction plans to complete the outdoor theme park utilising both Fox and non-Fox intellectual properties.

    Genting Malaysia Bhd has fully resolved its dispute with Fox Entertainment Group Llc, Twentieth Century Fox Film Corporation, Foxnext Llc, Twenty First Century Fox Inc and The Walt Disney Company over the development of an outdoor theme park.

    In a filing with Bursa Malaysia today, Genting Malaysia said as part of the settlement terms, all parties had entered into a restated memorandum of agreement granting the company a license to use certain Fox intellectual properties.

    Following the settlement, all parties agreed to dismiss all claims and counterclaims between the parties in the pending legal action in the United States District Court for the Central District of California, it said.

    “Genting Malaysia is currently updating its development and construction plans to complete the outdoor theme park utilising both Fox and non-Fox intellectual properties.

    “The outdoor theme park shall also be renamed,” it added.
    Source: https://www.nst.com.my/business/2019/07/507357/genting-malaysia-reaches-settlement-over-outdoor-theme-park-development
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    Genting Malaysia rises on sooner-than-expected theme park opening
    The brokerage now thinks the attraction could be opened in the first or second quarter of next year instead of in 1Q 2021, given that Genting Malaysia has embarked on an aggressive hiring program for the park.
    Source:https://www.theedgemarkets.com/article/genting-malaysia-rises-soonerthanexpected-theme-park-opening

    Genting Malaysia theme park might open 2020: Maybank
    That could possibly mean a first-quarter 2020 launch, on the basis that the casino group had recently been recruiting for its theme park division, and had previously mentioned a lead time of six to nine months between hiring staff and opening the facility.
    It added: “Over the last two weeks, Resorts World Genting took out full-page job advertisements for its theme park division in local newspapers.”
    At this point, we are unsure if Genting Malaysia will reconcile with Fox/Disney, partner other studios, share royalties with them or even operate the outdoor theme park on its own,” wrote Mr Yin.
    Source:https://www.ggrasia.com/genting-malaysia-theme-park-might-open-2020-maybank/
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    GenM will not pursue the outdoor theme park with the Fox branding. Despite the theme park being ready for operation, with the ongoing legal case, GenM is unable to operate the theme park. The first hearing date of the Disney-Fox case is likely to be by end-2019 and is likely that GenM will request for permission to run the theme park during the hearing. As of now it is still uncertain on the opening date of the theme park.
    Source: https://www.theedgemarkets.com/article/gaming-industry-seen-remain-challenging-rest-year
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