Genting Intends to Spend Big Money on Future Casino Resorts

Asian casino developer Genting says it’s ready to spend $3billion to $4billion for the development of its Resorts World Las Vegas project

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Genting hopes to get Nevada gambling license and promises to invest between $3billion and $4billion in a new casino resort in Las Vegas.

Although not yet licensed under American gambling laws, Genting Berhad is determined to show its commitment as an investor by opening its pockets wide. Company representatives say they are willing to spend between $3billion and $4billion on its Resorts World Las Vegas project.

Construction should commence by June 2014, with the grand opening scheduled for 2016. With an impressive “Forbidden City” design, Resorts World will offer 6,583 hotel rooms, 22 VIP villas and 43 aqua suites, as well as an 8-screen movie theater, a huge bowling alley, a water park, a panda exhibit and an aquarium, so there will be no expenses spared.

The resort will stand on the 87-acre property where Boyd Gaming was supposed to develop its Echelon project. Genting bought the land in March for $350 million.

Malaysia gambling market flourishing

Meanwhile, the casino developer is planning to make big investments in its home country as well, with the Genting Highlands casino resort and theme park getting a tune-up. In recent gambling news, the company’s boss, Lim Kok Thay, has announced a budget of up to $1.5 billion for the project.

Current plans include a six-star hotel, a luxury retail shops, a 10,000-seat arena, as well as a gondola capable of carrying up to 4,000 customers up the hilltop every hour. With Twentieth Century Fox as a partner, the resort will be featuring iconic intellectual property figures.

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