The worst-kept secret along the Las Vegas Strip became official Thursday.
The developers of the $4 billion Resorts World Las Vegas named long-time MGM Grand Las Vegas executive Scott Sibella as president of the under-construction resort that is planned for an opening at the end of 2020.
Scott Sibella
The Asian-themed Resorts World Las Vegas, being built on the 87-acre site which once housed the Rat Pack-era Stardust, is the Strip’s ground-up development of an all-new mega-resort since Cosmopolitan of Las Vegas opened in 2010.
Sibella, who was president of MGM Grand for eight years, left the company in February as part of MGM 2020, a company-wide cost-cutting and efficiency effort that includes $100 million in reduced labor costs. Media reports speculated he was headed to Resorts World.
Sibella was one of several high-profile executives who departed MGM, including Chief Financial Officer Dan D’Arrigo and Senior Vice President Alan Feldman, who will transition into an advisory role.
In addition to his time with MGM Grand, Sibella served as president of The Mirage and Treasure Island.
“Scott has a wealth of experience in both development and operations, which will ensure that Resorts World Las Vegas is successfully built and operated,” Hui Lim, deputy CEO of Genting Group said in a statement. “The project is now fully financed, and construction continues to ramp up. As we now turn our focus to eventual operations, Scott will oversee a smooth opening and ensure Resorts World Las Vegas is run efficiently while providing a world-class guest experience.”
Resorts World will include 3,400 rooms in its first phase. The project will have two 59-story towers. The company said in a statement 55 stories have been completed,
“It’s a tremendous honor to be selected to spearhead one of the most exciting developments on the Las Vegas Strip in recent memory,” Sibella said in a statement. “The Resorts World project will be transformative for the Las Vegas Strip, particularly the northern stretch which is quickly becoming the proving ground for the next generation of integrated resorts.”
He replaces Edward Farrell, who was named president of Genting Americas, the Genting Group’s U.S.-based corporate entity that oversees development and operations in New York, Florida, Massachusetts and the Bahamas. Resorts World is a subsidiary of Malaysia-based Genting Group.
Sibella said Resorts World “is designed to create excitement and new reason for first time and repeat visits to Las Vegas.”
Boyd Gaming Corp. imploded the Stardust in 2007 to make way for Echelon, a $4.8 billion multiple-hotel complex covering 87 acres – the Stardust site plus additional land acquired by the company.
The recession killed that project early in construction, and it sat as an eyesore until Genting bought the site in March 2013 for $350 million. The company announced the deal in a well-attended press conference that included Genting’s leadership, several elected officials, and a number of Las Vegas business leaders. Nevada gaming regulators awarded Genting a preliminary finding of suitability in May 2014.
A year later, Genting held an elaborate and colorful ground-breaking ceremony on the site, with the shovel turners surrounded by Chinese lion dancers. In the background stood Echelon’s uncovered steel tower. That tower has now been incorporated into Resorts World.
In January, Resorts World said it had 1,500 construction workers employed at the location.
Howard Stutz is the executive editor of CDC Gaming Reports. He can be reached at hstutz@cdcgamingreports.com. Follow @howardstutz on Twitter.
