Malaysian based company, Genting Berhad met with Nevada gaming officials to move one step closer to its proposed billion Resorts World Las Vegas project on the former site of the Stardust and unfinished mega-resort planned by Boyd Gaming, the Echelon. Genting plans to incorporate the Echelon into its mega-resort. A little over a year ago, Genting acquired the ground for 0 million.
Gaming officials have probed Genting over the past year and traveled overseas to Malaysia, Singapore and London and collected information. Domestically, officials went to New York and investigated the company. Genting has a $3.8 billion Resorts World project planned for Miami and is inching its way into upstate New York where the construction of four casinos has been approved.
During the investigation, officials found each member of Genting’s board of directors bore a tie to organized crime in China. It is unknown if the discovery will affect Genting’s efforts in Nevada although the company has insisted it will complete the investigation process before moving forward. Officials must determine if Genting passes the “finding of suitability” requirement before granting a license. Two issues that came up were the fines Genting was charged in Singapore for letting minors in and allowing customers to be in the casino over the legal limit of 24 hours. Genting responded by saying it has changed its procedures and Singapore law changed to charge customers if they stay beyond the 24-hour limit.
Clark County officials and local business leaders were on hand as Genting Chairman KT Lim announced the plans for Resort World Las Vegas. Construction will create 2,000 to 3,000 jobs and once completed, the resort would hire 8,500 onsite workers and 3,300 indirect employees. The facility is slated to open in 2016 or 2017 and is expected to provide $155 million in tax revenue per year. The first phase calls for 3,000 hotel rooms, 3,500 slot machines, 4,000-seat theatre and 30 food and beverage outlets.
The predominantly red, Asian-themed mega-resort will include a rooftop park and observation deck, 58-foot high aquarium with exotic fish and a shopping area that resembles a Chinese village. The second phase calls for a convention center and waterpark, among other amenities.
Genting President and Chief Operating Officer, Kong Han Tan described the company’s plans for Las Vegas to the Nevada Gaming Control Board, which declared a finding of suitability for Genting before turning the matter over to the Nevada Gaming Commission for its review May 22.
Tan told the gaming board of Genting’s plans to add a 20th Century Fox World theme park to its Resorts World Malaysia and may consider a similar park for the Las Vegas location. Lim said the resort would draw more visitation for Southern Nevada from foreigners.
