Fitch says Korea resort to diversify Genting Singapore’s portfolio

    Fitch Ratings says that Genting Singapore’s proposed joint venture in South Korea with China’s Landing International Development will help to “moderately” diversify its geographic footprint away from Singapore. According to Fitch, the Jeju island integrated resort is likely to account for about 10 percent of Genting Singapore’s total assets. The company’s plans to model the new resort on its Resorts World Sentosa property is positive as it would create a more diversified and stable earnings stream, including gaming, leisure and hospitality, the ratings agency says.