Good news this week that a date has finally been announced for the beginning of construction on the Resorts World Las Vegas by Genting Group. According to the company, construction begins on May 5th, 2015 on this $4 Billion resort located right across from the Wynn and Encore.
The Asian themed property is one of the most anticipated projects in Vegas history and is expected to compete on the highest level on the strip against luxury properties like Wynn, Venetian, Cosmo and others. One of the main competitive advantages of the Genting Group is their heavy experience operating in Asian markets which is sure to lure in a lot of the Asian player base that historically flocked to competitors.
The resort itself once complete boasts 6,500 rooms and will be designed to resemble a Chinese Village – a far cry from the Stardust that used to occupy the land on which the resort will be built. Other exciting amenities that will be incorporated in the project include a 175,000 Sq. Ft. Casino, 4,000 seat show theater, full movie theater, indoor water park and apparently even a Panda exhibit for guests.
Although there is a heavy emphasis being put on these amenities to wow customers, we’re fairly confident this will be a very gambling oriented property and will likely feature a ton of Baccarat games on the floor to cater to the Asian clientele in more of a Macau style casino.
In speaking about the development Genting Chairman Lim Koy Thay said, “Our themed resort will cater to the high-end visitor as well as the budget-minded tourist. We will give first-time guests a new reason to visit Las Vegas and other tourists a great reason to return.”
The property was originally scheduled to be opened sometime in 2016 however with projected construction time at 24-36 months it’s quite likely that Resort World’s doors won’t be open until 2017-2018 depending on any delays, which are fairly common with developments on this scale.
The hotel is expected to generate up to 11,000 jobs for the Vegas economy and drive hundreds of millions in tax revenues over the next few years once the property opens. As Genting’s second project in the United States (the first being Resorts World in New York), it’s clear that the company is making a strategic shift towards the North American market.
Historically Genting’s operations have focused primarily on the Malaysian market, where it’s held the only gaming license for over 60 years, but with the push to Las Vegas it’s likely that the group will become a dominant player in the North American gaming arena.