Genting Group has bet as much as $4.3 billion in Las Vegas starting with a big new resort in the US gambling capital.
Resorts World Las Vegas is the most expensive resort ever built in Las Vegas.
In Las Vegas the number of visitors has dropped by more than 50% in the last year as the casinos have been forced to close their doors for three months due to the coronavirus restrictions.
The New Resort
The tourists are back now, but the data is far below the level of 2019.
Approximately 88 acres in size, the resort has around 3,500 hotel rooms and apartments, and a 5,000-seat theater, and is one of the world’s largest LED display in one of the towers. This is the newest and biggest property on the famous strip in the city over the last ten years.
Genting has entered into a partnership with the American giant Hilton Worldwide, which has three hotels in the resort.
Las Vegas Tourists
It is hoped that the new attraction will be a big boost in Las Vegas, which has been hard hit by efforts to slow the spread of Covid-19 in the past few months.
The city saw the number of visitors jumping about 15% between the moths of March and April of this year, but the numbers are still more than 27% down compared to the same period in 2019, according to the Las Vegas Convention and Visitors Administration.
In 2007, Las Vegas was overthrown by Macau and was hailed as the world’s biggest gambling hub.
Casino Operator
Located in Kuala Lumpur, Malaysia, the company is active around the globe including China, the United States, India, and the United Kingdom.
Genting purchased the property in 2013 after a failed project by the previous owner but there have been many hiccups in opening of a new resort a number of times due to the changes in the project, and many other things.
The original plan was to use it to attract Asian players, with a resort known in Chinese as” Genting’s World of China’, featuring a live panda habitat and a replica of the Great Wall.
Those plans were scrapped for a less heavily themed approach, which will now include the kind of luxury features found at other resorts on the Strip.
However some of the Asian factors remain in the final resort. In particular there are no fourth floors in the resort because four is an unlucky number in many Asian countries.
