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Resorts World Las Vegas ground breaking announced

Resorts World Las Vegas ground breaking announced

Old Mar 23, 15, 11:05 pm
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Resorts World Las Vegas ground breaking announced



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.
ARTICLE (with many more details): http://www.reviewjournal.com/busines...king-announced

Fantastic news! ^^^
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Old Mar 24, 15, 1:25 pm
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Hi,

Good news!^

Regards

TBS
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Old Mar 24, 15, 6:44 pm
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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?
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Old Mar 25, 15, 12:34 am
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Originally Posted by SgtRyan View Post
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
SOURCE: http://www.ask.com/wiki/Resorts_World_Las_Vegas?lang=en

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!

Last edited by kettle1; Mar 25, 15 at 12:40 am
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Old Mar 30, 15, 4:02 pm
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Originally Posted by kettle1 View Post
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!
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.
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Old Mar 30, 15, 4:05 pm
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Originally Posted by SgtRyan View Post
Wonder how the the other 5* players will react?!!
I guess they have to see the actual product first. I'd imagine the most threatened would be (a) Caesars Palace, and (b) Venetian+Palazzo.

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.
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Old Mar 30, 15, 6:04 pm
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I wonder who the target group is.
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Old Mar 30, 15, 6:17 pm
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Originally Posted by Dieuwer View Post
I wonder who the target group is.
Web site: http://resortsworld.com/

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
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Old Mar 30, 15, 6:26 pm
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Originally Posted by kettle1 View Post
Furthermore, the resort is expected to attract many new international visitors.
So the target group is mostly foreign visitors, and not say US spring breakers or retirees.
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Old Mar 30, 15, 6:46 pm
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Originally Posted by Dieuwer View Post
So the target group is mostly foreign visitors, and not say US spring breakers or retirees.
I think they will go for both - foreign visitors and US "high rollers".

This is what the site looks like now.



Echelon Place history: http://www.ask.com/wiki/Echelon_Place?lang=en
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Old Mar 30, 15, 6:51 pm
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Originally Posted by kettle1 View Post
I think they will go for both - foreign visitors and US "high rollers".

This is what the site looks like now.



Echelon Place history: http://www.ask.com/wiki/Echelon_Place?lang=en
And this is supposed to be finished later this year??
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Old Mar 30, 15, 7:37 pm
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Originally Posted by Dieuwer View Post
And this is supposed to be finished later this year??
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.
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Old Mar 30, 15, 7:43 pm
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Originally Posted by kettle1 View Post
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.
Thanks for the summary. Good news indeed for those lucky 11,000.
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Old Mar 30, 15, 8:02 pm
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Originally Posted by VickyKing View Post
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.
Both properties have 6000 rooms combined (or around that)

Originally Posted by Dieuwer View Post
I wonder who the target group is.
They are targeting the Asian market....or so I'm told.
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Old Mar 30, 15, 8:13 pm
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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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