If Resorts World President Scott Sibella was concerned about the progress the Strip’s newest casino is making, he concealed it well during Wednesday’s Nevada Gaming Control Board meeting.
Sibella struck a confident, but realistic, chord before the gaming regulators during the licensing hearing of Resorts World executives.
Touting its blend of technology and luxury, the $4.3 billion, 3,500-room casino megaresort — the most expensive in Strip history — opened amid a worldwide COVID-19 pandemic that ravaged the Las Vegas economy. Following a rollicking opening night on June 24, 2021, that drew 20,000 people, the Strip’s first new development in more than a decade took hits from a resurging virus and an uneasy public. Still, Sibella assured the Control Board that casino cash flow is steadily increasing, along with visitor volume.
In May 2021, the Nevada Gaming Commission unanimously approved the licensing of Resorts World’s parent corporation, Malaysia-based Genting Berhad PTD.
With its 5,000-seat theater opening in December and seeing near sellout crowds for its first three residencies, Sibella said the resort itself is complete.
“We’re very happy with the feedback we’re receiving from the property,” he said. “People love the beauty. They love the design. They love how we’ve programmed it. And most importantly, the customer service that we wanted to bring from Genting overseas to Las Vegas, that family atmosphere, is definitely working. We get a lot of great compliments on that. So things are working well.”
It hasn’t been smooth sailing, however. “We thought COVID was over and we started to get a lot of momentum, and then as we all know COVID came back with the delta variant and it kind of slowed us down. And then that started to kind of go away and then the next variant came along. So every time we grow momentum, it seems to slow us down. … But I’m happy to say we cash-flowed positively for 2021. We hit 75 percent of our budget. We know we’re a new property. We’re the new guy on the block and we have to ramp up.”
Emerging from COVID will mean a return of the convention business that is an integral part of the Resorts World business model.
He also alluded to the property’s potential as the north end of the Strip experiences a resurgence.
“We know it’ll take a little time, but things do look good,” he said. “We see a lot of light at the end of the tunnel. And we’re excited with the product we have, and we know things will eventually shift down to this side of the Strip. We love what the Fontainebleau’s doing, the Convention Center. So we’re excited with the future of Resorts World.”
And speaking of light at the end of the tunnel, Sibella touted the resort’s underground tunnel constructed by Elon Musk’s Boring Company that will transport passengers to the Convention Center. It’s on track to open in time for April’s National Association of Broadcasters Show.
“We’re hoping to get Elon here to help us do a ribbon-cutting,” he said. “It’s a big event, not only for Resorts World, but for Las Vegas.”
Of greater impact, however, is the focus of the company on cashless casino technology that has the potential to dramatically speed up play. It’s also a new challenge for state gaming regulators.
Call it a non-sequitur, but the only head-scratching moment came when Sibella was asked about his relationship, if any, to controversial gambler RJ Cipriani, who often goes by the name “Robin Hood 702.” Sibella said he didn’t know Cipriani, who claims otherwise. Cipriani currently faces a minor cheating-at-gambling violation associated with an incident last year at Resorts World.
An email seeking clarification from the company about any relationship between Sibella and Cipriani resulted in this response from Rogich Communications Group: “Scott’s comments were made in reference to the fact that he did not know the individual was on property when he was trespassed, not that he did not know him.”
And, Sibella said, a second phase of development is already being discussed.
Although cash flow is still king and Resorts World has work to do, the future of gaming is on display on the north end of the Strip.
