With one Nevada Gaming Control Board member calling it one of the most exciting moments in Las Vegas in 10 years, regulators recommended approval Wednesday on the licensing of the $4.3-billion Resorts World Las Vegas.
The property, under development since Malaysia-based Genting Group acquired the site in 2013, will mark the first new Strip resort to open since The Cosmopolitan in December 2010.
The Nevada Gaming Commission has final approval on May 20, which paves the way for a June 24 opening. But the vote appeared to be a formality given the three Control Board members repeatedly praised the 3,500-room resort and its ownership.
No issues were raised by the regulators with the Resorts World application. Control Board Chairman Brin Gibson commended the company’s financials and “outstanding” ratios.
“This is one of the most exciting moments in Nevada’s history in the last 10 years at least,” Gibson said. “It’s a beautiful property. I commend you on your architecture and investment. It’s a gorgeous piece of work.”
Resorts World Las Vegas President Scott Sibella told the board the property on 88 acres will open at 11 p.m. to the public on June 24 after hosting a private party. He said the public will like what it sees in the 59-story curved structure that’s red and has a LED facade.
“The design and architecture of the property are over the top and will be a must-see attraction,” Sibella said. “Our goal with Resorts World Las Vegas is to bring new and unique entertainment to the Las Vegas Strip and showcase what has made the Resorts World brand globally recognized. From the beginning, our goal was to create a truly integrated resort from entertainment to technology and customer service.”
The property has a 117,000 square-foot casino, 1,400 slot machines, 117 table games, and 30 poker tables. There are private gaming salons on the fifth floor with four games and on the 66th floor with six total games. Genting will operate its own sportsbook and assume the risks.
But the non-gaming amenities will take center stage, Sibella said.
Resorts World has a 5,000-seat theater where it’s expected to feature high-profile singers Celine Dion, Katy Perry, Carrie Underwood, and Luke Bryan. It has a 5.5-acre pool complex with seven pool experiences, including an infinity pool with Strip views.
Sibella said an Asian-themed street food hall with 16 stalls will be a first in Las Vegas. Restaurants will deliver food to guests anywhere on the property.
Resorts World has 600,000 square feet of food and beverage, a nightclub, a day club, and boutique retail. The nightclub measures 26,000 square feet and will host 2,000 people. The day club is 46,000 square feet and both experiences will be unique for Las Vegas, Sibella told the Control Board.
“The way we laid the property out and programmed the property, the non-gaming revenue areas will play an integral part in our success,” Sibella said. “Our mobile loyalty program was first designed for non-gaming, and then we turned it into gaming. We’re willing to do both aspects of clientele at our property. The shift to non-gaming continues to change, and we are taking advantage of that trend. We forecast 65-70% of our revenue will be non-gaming.”
Resorts World will have more than 300,000 square feet in convention space, and Sibella said the property will benefit by being across from the Las Vegas Convention Center’s new West Hall expansion. Sibella said Resorts World will be getting a large slice of the big groups and serve as headquarters for conventions, starting this summer.
“I don’t think conventions will take as long (to recover),” he said. “We’re getting a lot of leads on groups wanting to come back, and I think late in the second half of next year and 2023 will be gangbusters.”
A large portion of Resorts World’s 3,500 rooms will be operated by Hilton Hotels. and its ultra-luxury brand Crockfords. Hilton East will have 1,774 rooms, while the Conrad brand will have 1,496 rooms. The ultra-luxury Crockfords brand will have 236 rooms.
Sibella said the 130 million members in the Hilton Honors program provide the property the basis for a strong start and to gear up quickly.
“Resorts World was designed and programmed to cater to all levels of customers from ultra-luxury, luxury, premium, and even mass market,” Sibella said.
Sibella said Resorts World has already hired 600 employees and 70% are vaccinated – a percentage the operators said they plan to grow. There are challenges in hiring, but they plan to have 5,000 employees in place at least two weeks before the opening based on 110,000 applications.
Genting Chairman and Chief Executive Tan Sri Lim told the board how his father founded the company in 1963 and opened its first Resorts World in 1971. Genting acquired the former Stardust site, where Boyd Gaming began construction on the planned Echelon project in 2007 and halted a year later due to the recession.
“From its humble beginnings, the company diversified and grew in a multinational conglomeration,” Lim said. “It’s a truly remarkable moment in the group’s history. Genting will become part of Las Vegas, the entertainment destination of the world. Genting is ready to play its part and be a responsible member of the Las Vegas community.”
