Resorts World Las Vegas Will Have the Largest Gaming Floor on the Strip
The Nevada Gaming Control Board recommended this week that the Malaysian gaming and energy conglomerate, Genting Berhad, should receive a state license to build an integrated casino resort on the Las Vegas Strip. Genting’s ambitious casino project is expected to cost $4 billion.
If approved, Genting developers want to break ground on the site in 2014. The resort will be called Resorts World Las Vegas. The current plan is to incorporate 80% to 85% of the buildings which were built in the stalled Echelon project. Work began on Echelon Place in 2006. Its developer, Boyd Gaming, ended work in 2008 when the Great Recession hit.
Incorporating Stalled Echelon Place Development
In March of 2013, Genting Group bought the land from Boyd Gaming. The plan is for a 3,500 room hotel on the less-traveled north end of the entertainment corridor. Genting officials plan to build a 4000-seat theater, a state-of-the-art casino, and a garden attraction. A 20th Century Fox theme park is another possible inclusion.
Resorts World Las Vegas would bring a different look to the Vegas Strip. The facade of the resort will be designed to look like a Chinese village. Red will dominate the landscape, including the shiny towers of the skyscrapers, pagodas framing the village, and the bowl of the theater. Genting’s contribution to Las Vegas will look like nothing that has come before in the destination city.
CFO Expects an Entertainment Destination
Christian Goode, the Chief Financial Officer and Senior Vice President of Development for Genting Group, expects the casino complex will draw visitors to the north end of the Strip. In explaining his company’s plans, Goode said, “We’re creating an entertainment destination. We want to give people a new reason to come to Las Vegas, a great reason to come back, and it’s not about one or two attractions, but it’s about several.”
One reason for the location of Resorts World is the extra space offered for growth. The Genting CFO says the company wants gamblers to feel comfortable, so there should be plenty of space for gamblers to enjoy themselves. Phase on is going to include 3,500 slot machines and table games, along with 3,000 hotel rooms. When completed, the gaming floor will be the largest one in Las Vegas.
The spacious gardens will feature entertainment. An observation deck will overlook the 87-acre complex, while a sky casino will cater to high rollers. Goode expects the integrated casino resort to help the city reinvent itself once more. Genting Group expects Resorts World Las Vegas to be a destination spot for gamblers, gawkers, and tourists in the 2010’s and 2020’s.
Nevada Gaming Commission Has the Final Decision
Now that the Nevada Gaming Control Board has recommended the license for Genting Group’s casino project, the application must pass muster with the Nevada Gaming Commission. If this is approved, then construction starts up later this year.
It is expected that the Gaming Commission will approve the license for Resorts World Las Vegas. Genting Group is considered one of the best-run corporations in Asia. Given Genting Berhad’s success in New York state and the United Kingdom, the Nevada confirmation should come in the next few months.
About Genting Group
Genting Group is Malaysia’s largest corporation. The conglomerate has 58,000 employees spread throughout 26 countries worldwide, and consists of four separate companies. Genting Berhad is the holding company, while Genting Malaysia Berhad, Genting Plantations Berhad, Genting Singapore Plc, and Genting Hong Kong Limited at the four member companies.
The multinational corporation is more than a gaming, resorts, and tourism group. Genting also owns massive plantations in Malaysia and Indonesia. These plantations make the company one of the leading palm oil producers in Malaysia. It also owns land properties and has a biotechnology wing. Genting Oil & Gas is involved in energy exploration and production, with oil and gas projects in Indonesia and Morocco. Genting also owns power and supply infrastructure in Malaysia and India. Meanwhile, Genting UK is the largest casino operator in the United Kingdom.
Casinos bearing the “Resorts World” name are found in Malaysia, Singapore, Philippines, the UK, and the USA (Resorts World New York). The group also own Universal Studios Singapore, which is part of Resorts World Sentosa in Singapore.
