Nevada Gaming Commission Gives Regulatory Approval To Resorts World Las Vegas
Resorts World Las Vegas scored a massive victory after gaining key regulatory approval of its $4 billion project.
The proposal was ratified unanimously by the Nevada Gaming Commission.
The project involves development of the resort on the north end of the Las Vegas Strip by the Genting Group, a Malaysian company and a giant in the casino industry.
The new development was officially started a year back with an extravagant ceremonial groundbreaking. Construction is likely to begin in the fourth quarter of this year. The Chinese themed resort is expected to be completed by end of 2019, about a year later than previously expected 2018 opening.
The approval allows Genting to start prospecting for corporations and key executives to be involved in the project. Resorts World Las Vegas officials said that the timeline had to be shifted due to changes in the Malaysian currency and Chinese economic scene.
In a statement, Gerald Gardner, the project’s general consul said,
This is an extremely deliberative and thorough company when it comes to evaluating markets, when it comes to getting it right in terms of design and construction
Gardner who was a former chief of staff to Nevada Governor Brian Sandoval stated that while Resorts World Las Vegas will focus on attracting VIP gamblers from Asia they will also target the domestic market.
The $4 billion mega casino resort project will include a hotel with over 3,000 rooms and a nightclub as well as other entertainment facilities. It will also a have a casino spanning 150,000 square foot area. The building’s front entrance atrium will display a “celestial sphere” which will feature selfies from guests. The atrium will also have a Chinese garden. The site will feature a number of shopping outlets as well. The resort will generate employment for 3,000 people upon its opening and create 5,000 part-time jobs during its construction phase.
The project is located on the site of erstwhile Stardust casino. The site was later developed for another resort called Echelon by Boyd Gaming Corp., but the plans were shelved owing to the economic recession. Genting will now make use of the partially erect Echelon structure for further development.
The Genting Group has properties in Malaysia, Singapore and the United Kingdom. The company has already entered the U.S market with Resorts World New York City and is in the process of developing a new property in Massachusetts.
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