Genting, the Malaysia based casino developer is to add to its worldwide casinos by building an integrated resort in Las Vegas. The company is to start work on Resorts World Las Vegas later this year on the famous Strip. It is estimated that the casino resort will cost 4 billion dollars and it is to be constructed in four different phases which could take up to three years to be finished. The Las Vegas Resorts World would join the several other huge Resorts World casino complexes that Genting has developed in different parts of the world including Malaysia, the Philippines, Singapore and the United States.Genting was founded in Malaysia in 1965 and has its headquarters in Kuala Lumpur. It is the holder of the only casino gambling licence in the country. Genting is involved in other sectors as well as the casino market and has many subsidiaries in several countries including Singapore, Hong Kong, the United Kingdom and the United States.
In 2013 Genting bought the site of its future Resorts World Las Vegas from Boyd Gaming for 350 million dollars. The site was where Boyd Gaming had hoped to develop a casino hotel complex called Echelon Place on land it had acquired and where the Stardust Casino Resort had previously stood. However, Echelon Place was never fully developed due to the economic crisis in the United States and finally last year Boyd sold the site to Genting.
Genting’s Chairman has said that the company wants to attract both wealthy and budget conscious clients to its integrated resort on the Strip. The complexes large casino will have about 3 500 slot machines and gaming tables combined. This large casino will be part of the first phase of the resort which will also have hotel rooms, villas, restaurants, retail outlets and entertainment venues. The later phases will include an addition to the casino, a theme park, a theatre, a bowling alley as well as more hotel rooms. When all four phases are constructed over the next three or more years, the integrated resort should have over 3 000 hotel rooms and also a large convention centre.
Nevada will benefit from the development of the casino resort as there will be around 30 000 jobs created during the construction and then up to 11 000 jobs when the complex is finished. The state will also gain millions of dollars in taxes from the hotel casino resort.
