Legal counsel for the Genting Group last week told the Nevada Gaming Control Board full-scale work would begin on the Resorts World Las Vegas development this fall with a planned 2019 opening date.
The Gaming Control Board unanimously voted in favor of Genting registering as a public entity, the suitability of its leadership structure and shareholders, Genting’s mobile-gaming subsidiary, and its player rewards program.
The Control Board formally recommended the project, which is slated for consideration by the Nevada Gaming Commission on May 19. Board Chairman A.G. Burnett said the project is ready to go and said Genting merely took a cautious and deliberate approach during the planning stages.
Genting broke ground on the $4 billion Resorts World Las Vegas project a year ago, and says it will build a 3,500-room hotel and 150,000-square-foot casino with a Chinese theme on the site of the former Stardust Hotel and Casino.
Work has progressed slowly on the site as intricate plans are created and the required entitlements and zoning approvals are made. Genting initially announced a 2018 opening date, but moved it back after reducing its scope slightly, amid financial turmoil in China and Malaysia, where it hopes to gain a significant portion of clientele.
Resorts World Las Vegas General Counsel and Senior Vice President Gerald Gardner said some 25 company employees and a construction crew of 100 have been preparing utilities infrastructure and other site improvements since the May 2015 groundbreaking.
Gardner expects the project to create 5,000 onsite construction jobs and another 17,000 indirect jobs during the three-year project. Once opened, some 2,500 full-time employees would keep it running, Gardner said.
A 56-story hotel tower is to be the most prominent feature on the 87-acre development site.
Genting owns several Resorts World properties around the globe, with its Resorts World Genting in Malaysia being its feature resort. It also has resorts in Singapore, the UK, New York, and the Philippines.
While the work pace is expected to quicken this year for Resorts World Las Vegas, the nearby Lucky Dragon hotel and casino project is on schedule to open later this year.
The project’s owners recently issued a news release saying they obtained the funding they need to complete by the end of the year their renovation of the property near Sahara Avenue and the Las Vegas Strip.
The Asian-themed casino is to feature table games that Asian visitors find most popular, such as pai gow and baccarat in its 27,500-square-foot casino, plus a 200-room hotel and 4,500-square-foot spa.
Resort signage primarily will be written in Chinese, with English translations provided.
“We are filling a niche in Las Vegas and we’re thrilled to bring such a carefully curated array of Asian-focused gaming options, restaurants and amenities to Las Vegas,” Lucky Dragon COO David Jacoby said in a statement.
Jacoby says the families of William Weidner and Andrew Fonfa agreed to provide financial backing.
Lucky Dragon last year sought an incremental tax financing deal to get the project going, but Las Vegas officials nixed the request, saying it would provide an unfair advantage that other casino developers aren’t getting.
