Resorts World Las Vegas is expected to begin full-scale construction on their project in the last three months of this year; an executive, affiliated with the project disclosed to the Nevada Gaming Regulators.
Despite breaking ground on the $4 billion project at the north end of the Las Vegas Strip almost a full year ago, Genting Group has revealed that only minor portion of the work has been carried out so far and construction on it’s the building structure is expected to begin in earnest during the fourth quarter of the year.
About the Resorts World
Resorts World broke ground on the project on May 5, 2015; an elaborate ceremony including traditional Chinese lion dance and statements from high-ranking officials, such as Gov. Brian Sandoval and Lt. Gov. Mark Hutchison, marked the beginning of the Chinese-themes addition to the Las Vegas portfolio.
Hutchison said that the resort would be a “magnificent addition” to the tourism industry and a “jewel in the desert.”
With site activity being rammed up, starting from the summer months, Resorts World General Counsel, Gerald Gardner, appeared before the Nevada Gaming Control Board stating that construction will be sped up further in the latter part of the year.
Once all building activity is progressing at full speed, Resorts World is expected to create about 5,000 direct construction jobs; it is also expected to require about 2,500 full-time employees when they open as a highlight to both Asian and domestic tourists.
The finished Chinese themed venue, which is being designed by architect Steelman Partners, is expected to offer 150,000 square feet of gaming space, an indoor water park, a panda exhibit, an aquarium and a 4,000 seat theatre centred around a 56-story tower, with 3000 hotel rooms for the visitors.
Resorts World is being built on the north end of the Strip, on the same site, where the Stardust resort used to stand. Boyd Gaming Corp. had acquired the site and started construction on the Echelon project, earlier in the millennium but decided to abandon the project, during the economic recession, in August 2008 and sell the site, with the partially constructed structures to Genting in 2013. The architects on the project have been busy making use of these structures, incorporating them into the final design for Resorts World Las Vegas.
This could well have contributed to the delay in building work. Gardener remarked in an interview that he delays could be attributed to the “complex design.”
How stable is Genting?
He also said that the downtrodden Chinese economy and the struggling Malaysian currency were also contributing factors in the change of dates. However, officials at the Malaysia-based Genting Group, the project’s developers, said that the company was in a strong financial position.
Genting officials appeared before the Nevada Gaming Control Board in a meeting held in Las Vegas in order to get initial approval for a range of applications, including filling a range of executives and corporate positions for the resort. The three-member board gave them a unanimous approval with the application and forwarded it to the Nevada Gaming Commission for the final approval in two weeks.
Genting Chairman, K.T. Lim, told board members that Genting Group aimed to complement the existing ambience of the Strip while creating and adding a “new and unique” destination. He expressed his enthusiasm about the progress of the project and said that he remained “very excited and engaged” with the plans moving forward.
Board Chairman, A.G. Burnett, said he still believes that Genting, which received a preliminary finding of suitability from the board and commission two years ago, was a “very well-run company” that can have a big impact on the Las Vegas casino industry.
He added, “Competition is a good thing, and I think having this property on the Strip will be a very good thing.”
Genting Group is a prominent member of the global hospitality industry, with luxury properties in Malaysia, Singapore and other countries in the world. They have already made their mark in the United States, with a casino in New York, named Resorts World New York City and are also involved with another planned casino project in Massachusetts.
The north Strip has long been scantily occupied with empty lots and partially built developments, it has been taken up a lot of the space without much activity; the resort would be a meaningful step in the revitalization of the area.