An artist’s rendering of the new Resorts World Las Vegas, which developer Genting hopes is going to be the very first major post-recession project on the Las Vegas Strip.
Representatives from Malaysia-based casino giant Genting met with the Las Vegas Gaming Control Board week that is last respond to questions about the suitability of these proposed $4 billion project for the Las Vegas Strip, Resorts World Las Vegas. That meeting resulted in the initial approval of the gaming license.
Genting acquired the abandoned Echelon project 14 months ago for $350 million, and is now one step closer to realizing its ambitious brand new mega-resort, the initial in the Strip for pretty much a decade, to be constructed on the half-vacant pocket of land that was once home to the legendary Stardust Casino. The suitability choosing may be the penultimate phase before actual licensing.
It is understood that the Gaming Control Board has spent the past 12 months searching into Genting’s operations throughout Malaysia, Singapore, London and New York in a rigorous assessment of the company’s suitability, but Genting’s chances of approval were constantly rumored to be high.
The company and its representatives will be found suitable by both the Control Board and the Nevada Gaming Commission, which will review the recommendation May 22. as Howard Stutz, gaming reporter at the Las Vegas Review-Journal, wrote on the eve of the me (more…)