An outdoor theme park for Malaysia's only casino resort, the Resort World Genting Complex, is now expected to open in the second quarter of next year, management says.

This follows The Edge Markets, a financial media outlet that reported the opinions of management at resort promoter Genting Malaysia Bhd in the context of its annual general meeting on Monday.

In late May, banking group Nomura said theme parks were likely to be postponed until the fourth quarter of 2021 due to the COVID-19 pandemic, citing management's guidance.

Casino operations at Resort World Genting (file photo) resumed on Friday but initially only to Genting Rewards members.

The building first closed on March 18 as part of a national effort to contain the novel coronavirus linked to COVID-19 infections.

Monday's annual meeting also provided some details about the theme park's contents.

Kofoi Yong, chief financial officer of Genting Malaysia, told shareholders that, as cited by Edge Markets, it would be called Genting Sky World and would still include the cinematic themes of intellectual property linked to the 20th Century Fox movie brand and other unnamed "international" movie-themed attractions.

The construction of the theme park was temporarily suspended due to Malaysia's so-called movement control order, which took effect on March 18, but has now resumed, Koh said. Movement controls have also restricted foreign professionals from entering the country to help complete the theme park, the CFO noted.

Outdoor theme parks should have originally had the "20th Century Fox" brand.

In July 2019, Genting Malaysia said in a filing with Bursa Malaysia that it had reached a settlement "completely" of what had previously been reported in a lawsuit of about $1 billion in the United States over the matter.

In October, Maybank IB Research said outdoor theme parks at the resort in Genting Highlands outside Kuala Lumpur would cost more than $700 million, in line with guidance from Malaysia's Genting management, something Maybank did not expect.

Genting posted a net loss of nearly 418 million yuan ($96 million) in the first quarter, compared with 268.3 million yuan in net profit in the year-ago quarter, in its results released at the end of May, which blamed the worsening business from the impact of the pandemic.

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