New to Las Vegas! A new project is coming to town, a sprawling Chinese-themed resort on the Las Vegas Strip. This long-awaited and ultra-modern casino is expected to open sometime in 2018.
Las Vegas History
Just ten years ago, the hot spots on the Las Vegas Strip were MGM Grand and Caesars Palace. Today, the north end is making a comeback. Wynn Resorts and the Las Vegas Sands, the Venetian and the Palazzo have brought tourism back to the area and this shift in gravity has now attracted the attention of the Genting Group, a company that intends on building Resorts World Las Vegas, a china oriented resort.
What is the Resorts World Las Vegas?
The property recently acquired by Genting is kitty-corner to the Wynn Las Vegas, a former Echelon Place project. The total estimated cost of the project is $4 billion and will include a movie theater, convention area and a large lake surrounded by a Chinese garden.
The Genting Group is not new to the casino resort industry, their experience ranges across several countries.
Plans for this Chinese Casino include:
a 3,500 room hotel
A huge outdoor amphitheater
a full panda habitat e $4 billion resort is set for construction on the former site of the Stardust Casino on the Las Vegas strip. The plan is to showcase the ancient culture and the future trends of the Chinese culture.
The Economic Growth for Las Vegas
It is a massive new project, one that economy experts believe will shift the center of gravity in the tourist-driven city of Las Vegas. Although it will have casino play integrated into the hotel, this new Chinese hotel-casino, as others in the industry, is focusing on other tourist related interests besides the conventional gaming.
K.T. Lim, the CEO of the Genting Group, is the lead contact for the investors for this $4 billion dollar project. The construction ground celebration was beautifully exotic and presented the introduction of the new project to the public with a show of traditional Chinese lion dancers and a public address for most of the notable Nevada leaders. At the opening celebration, it was the Nevada Governor, Brian Sandoval who placed the golden shovels into the compacted earth of the bought 88-acre site next to Circus Circus.
This pre-construction site has remained unfinished for almost 10 years, and just recently it was the ground breaking ceremony for the new Genting investment. Steve Wynn, one of the largest casino moguls in Las Vegas, said he was excited to see the project develop, but believes a 2018 opening may be an over-reach. He commented that he was glad to see a new neighbor in town, especially one that has the capital needed for growth.
The Las Vegas Reception
The Groundbreaking ceremony for a new Chinese oriented casino-hotel took place earlier this year when the Getling group informed Las Vegas of the new acquisition of the old Echelon site, an 88-acre property which once housed the old Stardust Casino.
Casino King, Steve Wynn who attended the groundbreaking ceremony, suggests that the project is a welcome sight in Las Vegas. It will bring in more revenue and jobs for the community. He told reporters that well-funded neighbors willing to invest capital are always a welcome sight, although he also believes that the 2018 projected opening is a bit ambitious.
The new Chinese Casino brings new money and design to the city. The construction will take place on a site that was abandoned for several years. The Genting group bought the land for $350 million, and it is the former site of the unfinished Echelon complex, a project that was abandoned because of the economic crisis.
KT Lim, the chairman, and CEO of the Genting group in Malaysia, wants this new casino to showcase the best China has to offer, from past to present. He is excited to see the completion of the 4,000 seat outdoor amphitheater, a Chinese designed shopping center, and a huge Panda enclosure. The hotel will include casino activities and possibly an aquarium, indoor water park and even a bowling alley. Mr Lim is a Las Vegas aficionado and enjoys the many activities available in the different resorts, thus the resulting idea for this casino.
Las Vegas is the fastest changing city in the U.S. Major hotels, casinos and resorts are built, grown and changed on a regular basis. It is the city that makes room for the newest and latest that comes to town. This new project will do its part in changing the landscape for the Las Vegas Strip. It is this project that will tell you where the city is headed over the next few years. The growth of projects like these are the essence of the economic growth that Las Vegas is accustomed to seeing. We expect to see great things in the near future for this city of lights and celebration.