Genting to Take Las Vegas Strip to Next Echelon with Resorts World

Genting to Take Las Vegas Strip to Next Echelon with Resorts World

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…)

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Brand New Hampshire Casino Bid Rejected by One Vote

 Brand New Hampshire Casino Bid Rejected by One Vote

It’s very good news for Massachusetts, as New Hampshire rejects its latest casino bill.

It might be impossible for New Hampshire to come closer to legalizing casino gambling without really doing it following a two-hour debate, the state’s two-casino bill was killed off inside your home the other day by one vote, just one thirty days after its one-casino bill was rejected by 29 votes, and 12 months after the one before that. Deputy Speaker Naida Kaen, who had been presiding over the session, cast the deciding vote following a 172-172 tie.

The bill could have paved the real way for two video gaming licenses for which operators would compete in a bidding process. With regulations drawn up by the Gaming Regulatory Oversight Authority, it hoped to generate $25 million in revenue-sharing for towns and towns, and a recent poll by the University of the latest Hampshire suggested that almost all of residents were in support of casino gambling.

Two gambling enterprises in full operation would generate $168 million for the continuing state, it is calculated, and the Granite State needs the cash as part of your, now that its controversial ‘hospital tax’ is ruled unconstitutional, leaving a $185 million hole into the state spending plan.

A Brand New Hope

It’s understood that 17 representatives who voted against last month’s bill changed their minds these times, mostly they supported because it was tagged onto a bill to decriminalize (more…)

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