Undeveloped land surrounding Resorts World Las Vegas is a prime spot for an arena that would benefit the north end of the Strip, according to the top executive at the casino property.
The comments from Resorts World President and CFO Carlos Castro came during a hearing Thursday before the Nevada Gaming Control Board, which recommended the Gaming Commission approve his license.
Castro touted the potential for an arena when asked by Board Chair Mike Dreitzer on what Resorts World owner Genting Berhad has planned for its undeveloped land. He didn’t mention the NBA, but that was the implication.
“We have 46 acres in a prime location and we believe we’re the prime spot for an arena down the road,” Castro said. “We’re ready to build a world-class convention center with a hotel extension on that. We need to drive demand to the campus, so we’re looking at those assets that will drive that demand. With the other acreage, we’re looking at other attractions we can bring in to drive demand, not just to Resorts World but to the north end of the corridor. An arena is the perfect place for Resorts World and the north Strip.”
Castro is confident in Resorts World’s position on the north end of the Strip with great neighbors in Wynn Resorts and Fontainebleau Las Vegas. Nearby Circus Circus will be redeveloped, and that will be the next epicenter of luxury in the north corridor, he said.
There have long been proposals to build an arena on the north end of the Strip, but nothing has moved forward with construction. The most recent one in December 2024 got approval from Clark County to build an 18,000-seat arena between the Sahara and Fontainebleau resorts. It would also include a hotel and condos.
Another proposal on Las Vegas Boulevard south of the resort corridor fell through.
Board member George Assad said based on the gaming numbers he’s seen, Resorts World and Fontainebleau are “doing very well, despite what you might read in the papers.”
“The north end of the Strip is thriving and will continue to thrive and do well,” Assad said. “It would be fantastic for the north Strip and the entire city and state to have an NBA team here. That venue could also be used for concerts and other things.”
Assad hoped the NBA and others, such as former Laker Magic Johnson, who wants an expansion franchise, see it as the best location if the city is awarded a team as expected.
Assad said Johnson recently met with Nev. Gov. Joe Lombardo and he hoped NBA Commissioner Adam Silver was listening and watching.
“We will definitely support an NBA team,” Assad said. “Las Vegas has always been a basketball town first and foremost. Remember UNLV in the 1990s and we can re-create some of that enthusiasm with an NBA team. I would agree that Circus Circus will eventually be redeveloped and that strip of land between Circus Circus and Sahara Avenue across from the Sahara is prime and vacant and. I see the north end of the Strip really becoming just like the south end of the Strip eventually.”
Castro called the first quarter “fantastic” at his resort and said convention business has been at record levels. The property has clean up to do on its balance sheets at the end of 2025, and that impacted results, he noted.
“We’re optimistic where we are with Q1 rolling into Q2 and the summer,” Castro said. “We’ll be prepared. We’ll value add. We’re hearing from the consumer that they don’t want to be nickel and dimed and at Resorts World, we want to provide them convenience and provide unparalleled service and value.”
Castro was asked by Dreitzer about where Las Vegas stands today in terms of its value proposition. He asked how the destination can change the nickel-and-diming perception.
“It’s a slippery slope when you’re in the summer and you’re charging $10 for a room,” Castro said. “In order to offset that, there have to be high fees and expensive water to cover the fixed costs of these buildings. We’ve flipped it on its side and provide the customer value. We have complementary parking for locals, and that won’t change. Last summer, we offered complementary parking for all of our guests, and we will be reevaluating that strategy. We also dropped the resort fee (last summer) and it was well received by the customers.”
Castro said they are maintaining the integrity of the room rates instead of dropping them and providing value in other areas, such as food and beverage and happy hours.
“From a business perspective, we go back to the summer and it was very difficult from everything you read in terms of low rates and a lot of interesting pricing schemes,” Castro said. “It was really driven by international travel. As we plan for the upcoming summer, if the Canadians come back (and visitors) from Mexico and South America, we will be in good shape. If they don’t, I think it’s going to be another challenging summer.”
Castro said the F1 race has been tremendous for his property in November along with the National Finals Rodeo in December and will help the end of 2026.
