Malaysian gambling operator Genting Group broke ground on Tuesday on Resorts World Las Vegas, a $4-billion integrated resort, which is to be located at the former Stardust Hotel site on the Las Vegas Strip. The Chinese-themed hotel and casino venue is expected to be completed and launched in mid-2018.
The Genting Group purchased the 88-acre site from Boyd Gaming back in 2013 for the amount of $350 million. Boyd Gaming had planned to build the so-called Echelon Place, a hotel, casino, and convention complex. However, construction was suspended in 2008, due to the effects of the economic recession, which hit one of the world’s biggest gambling venues quite hard.
Tan Sri Lim Kok Thay, Chairman and CEO of the Genting Group, said yesterday that his company is keen on “being part of the city’s continued growth.” The executive also pointed out that the Chinese-themed resort would certainly attract a great number of both national and intentional customers.
According to initial estimates, the construction of Resorts World Las Vegas would create more than 30,000 jobs. Once completed, the resort is expected to employ more than 13,000 residents of Nevada.
The multibillion-dollar property is planned to feature three hotels with more than 3,500 rooms, several restaurants that would offer both regional and Chinese cuisine, a 100,000-square-foot casino floor, numerous retail and entertainment options. More information is to be released during the construction process.
The groundbreaking ceremony was attended by Nevada Governor Brian Sandoval, several Clark County Commissioners, state senators, and casino mogul Steve Wynn.
Gov. Sandoval commented on the new integrated resort as one that would create new jobs for Nevada residents, bring a greater number of visitors to the state, and generate billions of dollars in revenue.
Steve Sisolak, Clark County Commission Chair, welcomed the project and said that it would redefine the Las Vegas Strip. According to him, Resorts World Las Vegas would create new excitement for visitors, which would result in the revitalization of the local economy.
U.S. Senator Dean Heller noted that he considers the construction of Genting’s integrated resort “great news for Las Vegas”, as it would certainly help the city and the state of Nevada recover from the recent economic recession.
Currently, the Genting Group owns and operates a great number of gambling venues in Malaysia, Singapore, the Philippines, the United Kingdom, the USA, etc. The company is also planning to expand its operations in several other countries across the globe, with Italy, Russia, Japan, and Australia being among those.
