Genting Group to Build Casino Resort on Las Vegas Strip
By Matt Alderton
April 12, 2013
Malaysian gaming giant The Genting Group -- which currently has gaming properties in Malaysia, the Philippines, the United Kingdom, Singapore, Bahamas and New York State -- will open its first Las Vegas resort in 2016, it announced last month.
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Called Resorts World Las Vegas, the destination resort will be located on an 87-acre parcel of the Las Vegas Strip that was formerly occupied by Echelon, an unfinished casino-resort project that was scrapped by developer Boyd Gaming when the economic downturn took hold in 2008. According to media reports, Genting acquired Echelon including several partially built structures that will be finished and incorporated into the company’s final design -- from Boyd for $350 million.
"The entrance of one of the world's leading resort gaming developers into Nevada is another fantastic sign that Las Vegas and the Strip are poised for great things moving forward in 2013 and beyond," Nevada Gov. Brian Sandoval said in a statement. "The Genting Group and Resorts World Las Vegas will bring several thousand new jobs to our state, and will help us in keeping our economic resurgence on the right path towards success. I'd like to welcome Genting to the great state of Nevada, and we all look forward to the ground breaking of this new dynamic project."
Upon completion in 2016, the first phase of Resorts World Las Vegas will include 3,500 guest rooms, 175,000 square feet of gaming space across several gaming floors, and several luxury dining and retail amenities, not to mention an unspecified amount of convention space. (Echelon, it's worth noting, was to include a 650,000-square-foot convention center.)
"This is a great day for Genting, Las Vegas and the State of Nevada, and we look forward to taking full advantage of this exciting new opportunity," said Genting Group Chairman KT Lim. "This is an unparalleled opportunity to showcase what has made the Resorts World brand a globally recognized success for the past several decades."