Genting Group’s Resorts World Set to Open in Vegas in 2020
Genting Group has been a major player for decades in the land-based and online casino gaming industry. The group is a Malaysian conglomerate with member companies based in Malaysia, Singapore and Hong Kong, and was founded in 1965 by late entrepreneur and business owner Tan Sri Lim Goh Tong.
Aside from Genting Group’s online and mobile Genting Casino platforms that include casino games such as poker, blackjack, slots and other popular wagering entertainment, the Malaysian developer has now turned its sights to the land-based industry once again, with plans to open a massive $4 billion gambling resort: Resorts World Las Vegas.
A Vegas Giant
Resorts World is set to be one of Vegas’ largest ever establishments, designed to cater specifically to the gambling and entertainment needs of an Asian audience who are renowned for their love of gambling and lavish spending habits. The move by Genting is also a highly strategic one, seeing the company vie for the loyalty of younger customers through what is set to be a ground breaking gambling destination.
Since announcing that it would be developing the resort, Genting has made alterations to its design specifically to appeal to a younger generation of gambling clientele. Thanks to this overhaul of Resorts World’s design, the complex’s opening date has now been pushed from 2016 to 2020, when visitors will be able to experience its traditional Chinese ambience and Millennial-aimed gambling features at their best.
Redefining the Casino and Resort Experience
Genting has combined the latest technology with a modern feel and traditional Asian elements in a project that is intended to completely redefine the casino resort experience Vegas visitors enjoy. The famed gambling company has also revealed that in just a few months, tower cranes are set to be installed to continue the construction of the casino facilities and the hotel part of the complex, which will boast over 3,000 luxury rooms.
The Malaysian gambling conglomerate first purchased the site where its Resorts World Las Vegas complex is currently being built from Boyd Gaming in 2013. Boyd had intended to construct a replacement in the space where the Las Vegas Stardust Casino had once stood, but could not afford to complete the project. As a result, Genting purchased the land for a steal of just $350 million.
Resorts World Las Vegas is planned to be much more than just a traditional casino resort complex. Over and above an impressive 100,000 square foot casino floor, the resort will also boast numerous dining options, with authentic Chinese and Asian cuisines on offer to match its theme. There will also be retail spaces and other entertainment amenities, including stages for live comedy and music shows.
Online Casino Operators Could Follow Suit
Genting has appointed Edward Farrell as the President of the upcoming resort – a veteran in the gambling industry with over three decades of experience with highly respected casino companies, including MGM Resorts International. Farrell will be responsible for the supervision of the resort’s construction, and will also be preparing it for its much-anticipated launch in 2020.
The astronomical new resort is part of Genting’s ‘shock-and-awe’ strategy, in which the conglomerate has opted for a no holds barred approach to its spending when it comes to acquiring valuable assets in the US gambling industry. The company expects this strategy will assist it in creating a strong and sophisticated brand image with a new generation of potential players, which could in turn boost its online operations at the same time.
But should other online casino providers follow suit? In this highly competitive industry, player acquisition (and Millennial player acquisition in particular) is more important than ever, and many experts feel that Genting has taken an innovative approach. However, until the new resort opens its doors in 2020, the success of Resorts World Las Vegas can only be speculated upon for now.