In a big move, the major Malaysian gambling operator Genting Malaysia was just given the needed regulatory approval in order to start their construction on their mega-resort and casino in Las Vegas, the Resorts World Las Vegas. The plan is for this huge $4 billion dollar project to be built where the Stardust Resort and Casino, as well as where the unsuccessful Echelon project was.
Integrated Resort and Casino in Las Vegas
The Nevada Gaming Commission unanimously voted to approve the license for the foreign casino operator, and with that gave them the necessary approval in order to begin the construction of the first integrated resort that Las Vegas has had in the last 10 years. Work is expected to begin near the end of 2016, and will expect to be open by 2019. It isn’t a small undertaking, with its initial valuation of $4 billion, which could always go up.
According to its building plans, the megaresort plans on having:
- 3,100 hotel rooms
- 150,000 square feet of casino gaming area
As seen from their early models, they have decided to go with a Chinese theme, and this decision was not random. With the desire to bring in high rollers from China, they believe this strategy will attract more players willing to spend a lot of money.
Genting Malaysia’s Long Road
It isn’t recent that Nevada has known of Genting Malaysia’s plans to build a new casino in Las Vegas. The operator started back in 2013, as they purchased the Stardust Casino for $350 million. They also purchased the Echelon project that failed due to the big hit of the recession. As they went through the many steps needed to get properly licensed, they will finally be able to start construction.
One of the main selling points was the fact that it will be such a huge marker in the city, bringing in tourists and gamblers from around the world. They will have a 50-foot replica of a traditional Chinese lantern, which will undoubtedly get the attention of everyone. This will be a huge undertaking, but with the proposed 5,000 full-time workers, it should get built quickly.