Genting Americas Inc a subsidiary of Genting Bhd recently provided an update to its proposed Resorts World Las Vegas integrated casino resort which was expected to open in 2018. The company has confirmed that this deadline will not be met due to a number of factors and stated that the new opening will happen in 2020.
Construction To Commence Shortly
Resorts World Las Vegas will be the first full scale integrated casino resort to be developed from the ground up Nevada for over a decade. Although Genting is yet to confirm on the total investment for the project, analysts estimate that the project will cost the company around $4 billion. Genting Americas stated that preparation for a 3,000 car park and servicing has already been completed. Tower cranes are expected on the site shortly and construction work will begin during the third quarter of 2017.
During the first 12 months of construction, over 1,000 construction jobs will be created and as the project ramps up, an additional 2,000 construction jobs will be created post 2018. The first phase of construction will most likely be the hotel towers and the casino podium. When Resorts World Las Vegas opens its doors to the public, it will provide full time employment to more than 3,000 union workers.
Focus On Asian Market
The new casino is expected to attract Asian gamblers and will have an Asian theme to it. The casino floor is expected to cover 1000, square feet and will feature slot machines and classic table games with an emphasis on baccarat, a game that is very popular with Asian gamblers, especially high-rollers from Mainland China. The two hotel towers will have a total of 1,800 and 1,400 rooms accordingly.
Genting Americas Inc also announced that Edward Farrell will be the new president of Resorts World Las Vegas and will spearhead the operation. Farrell has extensive experience in the casino industry having served before as the vice president of finance for Harrah’s Entertainment’s mid-south region and also as the senior vice president of Foxwoods Resort Casino in Connecticut.
Modern Not Ancient Theme
One of the main reasons for the delay in the casino opening is because the owners and the developers were still finalizing design plans keeping in mind the type of market groups they were looking to target. Genting Americas is looking to attract a younger generation of Asian gamblers, commonly referred to as the millennials and as a result decided to change the casino theme from ancient Chinese to something modern.
The company initially wanted to have a theme that was more traditional like the Great Wall but in the end decided to drop that plan as the millennials would prefer a theme more like modern day Beijing.
Speaking to the Review Journal, Farrel said “We’ve gone back and forth on a lot of design elements. At one point, it was really traditional, kind of an ancient Chinese Forbidden City look. We ended up moving away from that for a couple of reasons. We think the modern Chinese elements are more appealing to people nowadays, just more exciting. It definitely has an Asian feel and theme, but it’s more of an Asia today theme.”
Technology To Play A Major Role
The company also realizes that modern day Asian gamblers are no longer enthralled by slot machines like the older generation and as a result the company will work closely with developers and look to incorporate modern technology as much as possible to introduce games that will capture the attention of these millennial gamblers.
The Resorts World Las Vegas integrated casino resort is being developed on the site of the former Stardust property which was run by the Boyd Gaming Group. The property is located on the north side of the strip and is expected to attract thousands of Asian gamblers on a daily basis and also boost tourism numbers in the state. The new casino resort will have more than 3,000 hotel rooms and will boost hotel accommodation numbers on the north side of the strip.
Genting Americas has yet to finalize a general contractor or a construction manager but is expected to make the decision shortly taking inputs from the Group’s chairman K.T. Lim. William Richardson who has experience in construction.