Resorts World Las Vegas ground breaking announced
http://www.reviewjournal.com/sites/d...?itok=sn7Z8Uy8
Malaysia-based Genting Berhad will break ground on the $4 billion Resorts World Las Vegas on May 5, a company spokesman said Monday. The Strip development, which has been in planning for two years, is projected to include 3,000 hotel rooms and a casino with a combined 3,500 slot machines and table games in its initial phase. The property will have 30 food and beverage outlets, a 4,000-seat theater and an elaborate garden attraction that will serve as the property’s front door to the Strip. Spokesman Michael Levoff confirmed the groundbreaking date in an email and said more details will be provided in coming weeks. Fantastic news! ^^^ |
Hi,
Good news!^ Regards TBS |
More competition means lower prices for the consumer! A very good thing! ^
Wonder how the the other 5* players will react?!! Anyone know when it is expected to open or how long it will take to build? |
Originally Posted by SgtRyan
(Post 24560263)
More competition means lower prices for the consumer! A very good thing! ^
Wonder how the the other 5* players will react?!! Anyone know when it is expected to open or how long it will take to build? Resorts World Las Vegas is a proposed Asian-themed resort on the Las Vegas Strip in Paradise, Nevada. In March 2013, Boyd sold the Echelon Place 87 acres site to the Genting Group for $350 million. Genting announced plans to develop the site as with phase 1 construction beginning in the second half of 2014. The $4 billion first phase, including a 3,000-room hotel and a 175,000-square-foot (16,300 m2) casino, is planned to open in 2016. Notable features will include a panda exhibit, as well as an indoor waterpark. The completed 21,847,314-square-foot (2,029,681.9 m2) project will eventually include 4 towers totaling 6583 rooms and could cost up to $7 billion. Proposed facilities 3,000-room hotel (first phase) 175,000-square-foot (16,300 m2) casino 4,000 seat theater Retail, dining and convention space Rooftop sky park and observation deck Aquarium Movie Theaters Bowling alley Indoor Water Park (proposed) Panda exhibit (proposed) 6583 rooms in total 21,847,314-square-foot (2,029,681.9 m2) total area at completion The above is dated information, as this project was pushed back. It now appears a smaller scale resort is being built. I would guess Steve Wynn, Circus-Circus and the owners of the SLS Las Vegas are thrilled this resort is being built. It will drive traffic to North Strip. I would guess it could open in late 2017 or early 2018. If they build out to 6583 rooms, I believe this would be the largest resort in the World. This is VERY good news for those of us that live in Las Vegas! |
Originally Posted by kettle1
(Post 24561254)
I would guess it could open in late 2017 or early 2018. If they build out to 6583 rooms, I believe this would be the largest resort in the World.
This is VERY good news for those of us that live in Las Vegas! |
Originally Posted by SgtRyan
(Post 24560263)
Wonder how the the other 5* players will react?!!
MGM has their own loyal following, and Wynn is so exclusively high end (other than the annoying part about drunk frat boys at XS) that they wouldn't fret either. |
I wonder who the target group is.
|
Originally Posted by Dieuwer
(Post 24591517)
I wonder who the target group is.
New Las Vegas Megaresort Is a Game-Changer: Wynn, MGM and Caesars Should Pay Attention Article from last year: http://www.fool.com/investing/genera...r-wynn-mg.aspx |
Originally Posted by kettle1
(Post 24591566)
Article from last year: http://www.fool.com/investing/genera...r-wynn-mg.aspx
Furthermore, the resort is expected to attract many new international visitors. |
Originally Posted by Dieuwer
(Post 24591599)
So the target group is mostly foreign visitors, and not say US spring breakers or retirees.
This is what the site looks like now. http://rpmedia.ask.com/ts?u=/wikiped...22-Echelon.jpg Echelon Place history: http://www.ask.com/wiki/Echelon_Place?lang=en |
Originally Posted by kettle1
(Post 24591676)
I think they will go for both - foreign visitors and US "high rollers".
This is what the site looks like now. http://rpmedia.ask.com/ts?u=/wikiped...22-Echelon.jpg Echelon Place history: http://www.ask.com/wiki/Echelon_Place?lang=en |
Originally Posted by Dieuwer
(Post 24591703)
And this is supposed to be finished later this year??
I would guess it will take about 18-24 months for the first phase to open. The good news is it will employ about 11,000 workers here in Nevada (during construction) according to the local news. |
Originally Posted by kettle1
(Post 24591867)
No, those are older articles. Construction will start in May, 2015. This is what Boyd Gaming was building (Echelon Place). Boyd Gaming gave up and sold the land to Resorts World International. Boyd took a huge loss. This is the former Stardust site, which Boyd owned for many years.
I would guess it will take about 18-24 months for the first phase to open. The good news is it will employ about 11,000 workers here in Nevada (during construction) according to the local news. |
Originally Posted by VickyKing
(Post 24591019)
I thought Venetian+Palazzo is north of 7000 rooms, so they would remain bigger if you treat them as a single combined resort instead of 2.
Originally Posted by Dieuwer
(Post 24591517)
I wonder who the target group is.
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This answers the question of the largest hotels in the World:
http://www.ask.com/wiki/List_of_larg..._world?lang=en |
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