Constituting its first ever landed entry into the Nevada market, Genting paid US$350 million to Boyd Gaming for the 87- acre former site of the Stardust Casino over five years ago, and initially planned to have construction completed by 2016. But despite a ground-breaking ceremony taking place in May of 2015, subsequent signs of construction have been scant at the North Strip locale, with Genting largely silent as to the long-term prospects of the venture.
Work has now resumed apace, however, with Genting attributing the delays to logistical difficulties pertaining to the construction of the US$4 billion resort, as well as to downward fluctuations in the value of the Malaysian Ringgit.
Thus, despite some calls of alarm regarding the ongoing trade-war between the White House and Beijing, representatives from Genting have given investors assurances that they are now “highly confident” of a 2020 opening.
Whilst there is little to suggest that drastic measures are being considered in the current dispute with president Trump’s administration, the prospect alone raises questions for stakeholders in Genting’s new flagship American destination.
“Travel restrictions might not be significant to Vegas overall, since Chinese visitors to the city are less numerous than those from other countries,” director of the University of Nevada Las Vegas’ Center for Gaming Research David G. Schwartz told International Casino Review.
“But it might seriously impact the prospects of Resorts World Las Vegas, which as far as I know is planning to cater to this exact travel segment,” he added.
Source: GMB / Casino Review
