LAS VEGAS | Resorts World Las Vegas | 650ft | 492ft x 2 | 330ft x 2 | 44-57 fl - Page 2

chris08876 · #21 Posted **May 14, 2014, 12:58 AM**

June groundbreaking essentially.
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Genting to start building $4 billion Las Vegas gaming resort later this year

Quote:

Genting Bhd, Southeast Asia's biggest gaming group, will begin construction of a $4 billion gaming resort on the Las Vegas strip in the second half of this year, it said in a statement on Thursday.

The Resorts World Las Vegas, expected to create thousands of jobs and hundreds of millions of dollars in tax revenue for South Nevada, will be built in four phases and take between 24-36 months to complete, Genting said.

"Our themed resort will cater to the high-end visitor as well as the budget-minded tourist," said Genting Chairman Lim Kok Thay. "We will give first-time guests a new reason to visit Las Vegas and other tourists a great reason to return."

Genting said upon completion, the first phase alone will feature 3,500 gaming positions in a 100,000 square-foot gaming floor, dozens of villas, food outlets and retail stores, as well as open up 11,000 jobs.

The mega-gaming resort will also add on, among others, a water park, movie theater, bowling alley and a million square foot convention center in the following phases.

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May 8, 2014
http://www.reuters.com/article/2014/...0DO0WL20140508

KevinFromTexas · #22 Posted **May 14, 2014, 3:13 AM**

I like the color of the glass.

mt_climber13 · #23 Posted **May 14, 2014, 6:25 AM**

Seriously, Vegas doesn't even try. Why should it at this point? It is a total urban failure. I lived there for a couple of years through high school. The town is a mockery of itself and the rest of the world. I have never felt so "dead" anywhere else in the world than when I am in Vegas. This will fit right in with that.

Zapatan · #24 Posted **May 14, 2014, 6:57 PM**

Bringing a totally new definition to the word tacky... this project

NYC2ATX · #25 Posted **May 16, 2014, 5:23 AM**

I'm actually really surprised at all the negative responses on here. This resort is as Vegas as can be, and I think it's awesome. It fits right in with the dramatic cityscape that Las Vegas is known for. I mean, if you have an issue with the city in general, I suppose you'll dislike this as well. Personally, I can say that I have always loved Vegas for how unique of a place it is, and I kind of miss the themed resorts. It was they that led the city to become the improbable, incredible place it is. Ever since the first time I visited as a kid I've been enamored with the Strip.

I recall someone saying that this is a step backward from CityCenter, but really CityCenter was the experiment amongst the other resorts on the strip, not a correction of a marred landscape. It was a success, yes, but there has been no evidence thus far that it set any kind of precent for future development. In fact, the super-luxurious Miami-meets-LA projects that emerged during the mid-'00s boom have only shown themselves to be unsustainable. The half-built concrete shell (remember Echelon Place?) that Resorts World will reanimate is a perfect example of those projects that either stalled or never even saw dirt move after the recession hit. Las Vegas knows what it is and what it does best, and it's this in a nutshell.

Also, anyone who has been keeping up with remodels and renovations at existing resorts would know that this city is growing up. Most updates to existing properties have been driven by a shift away from gambling, building up to the street, and creating a better pedestrian experience. The Linq, the Grand Bazaar at Bally's, and the planned reconstruction of the Rue de Monte Carlo (between MC and NYNY) are perfect examples of this. Vegas the city (as opposed to Vegas the Strip) is really barely in adolescence. In the 19th Century, New York was run by gangs and drowning in filth and waste, and Chicago was a soot-blackened industrial pile. Cities grow up. Vegas is already on its way, so give it a chance.

Onward · #26 Posted **May 16, 2014, 9:29 PM**

Massive project, don't think it's as bad as some say. This is Vegas were talking about.

chris08876 · #27 Posted **May 16, 2014, 11:49 PM**

^^^^

I think we all have gotten spoiled by all of the top tier developments in other cities across the country ever since the economy improved from the 2008 levels. From residential to office. Yet, lets not forget that Vegas is known for its eye popping, extravagant nature. The recession hit Vegas very hard, but, as the economy picks up, expect in the future more projects like this. Its Vegas, its not New York or San Francisco. This city has its own personality, and projects like this are what make this city great. Whether you agree or not, there is a different mindset in this region.

Of course, there are other normal projects going on in the metro as well. Vegas isn't just large resorts/casinos. Its just like any other city when you get down to the small/mid rise developments. (See Vegas Compilation). Hopefully the condo boom can pick up again. Before 2008, several high rises sprouted all over Paradise, Vegas North and South. I'm hoping with great optimism that it will pick up again.

NYC2ATX · #28 Posted **May 25, 2014, 6:47 AM**

Newer rendering. Looks kind of fabulous.

I sort of wonder if/hope that..based on the success of this new venture, Genting opts to maybe become a larger player on the Vegas strip, along the lines of MGM Resorts or Caesars Entertainment. Only because they could be the ones to salvage the Fontainebleau mess and finally develop the New Frontier dirt patch. It's really about time the North Strip got its moment in the sun, no pun intended. Not to mention the fact that the tallest building in the Valley wouldn't be an unfinished concrete shell anymore, a la North Korea.

source: On The Vegas Strip, Resorts World Putting Its Best Locations Forward

NYguy · #29 Posted **May 25, 2014, 11:11 AM**

I liked their plan for a Miami complex better, but yeah, this is Vegas we're talking about. People go there to have a good time, not for the fabulous architecture. I lived there for a little while years ago. I'll be visiting again in a couple of months.

chris08876 · #30 Posted **Aug 31, 2014, 12:09 AM**

Current Site:

The abandoned Echelon Palace site, which will soon become Resorts World Las Vegas. Photo source: Bobak Ha'Eri

Quote:

The changing face of Las Vegas
First, let's cover exactly what we know about what Packer and Genting Group want to build.

Genting Group is building an Asian-themed resort on the site that once held the Stardust hotel and casino, a property Boyd Gaming tore down to build the $4 billion resort Echelon Place. Those plans were abandoned when the economy went into free fall in 2008, and the partially constructed resort was sold to Genting Group for $350 million. Genting intends to build on the existing foundation and construct a resort that some estimate could cost as much as $7 billion to complete.

The abandoned Echelon Palace site, which will soon become Resorts World Las Vegas. Photo source: Bobak Ha'Eri via Wikimedia.
Genting's plan is to construct the resort in three phases with Phase 1 including 3,000 hotel rooms, 3,500 slot machines and table games, and 30 food and beverage locations. Construction of the first phase is planned to be complete in 2017.

Packer's plans are in a much earlier phase: Construction is expected to begin next year, with completion targeted for 2018. While a smaller footprint for the site means a smaller scale than Resorts World Las Vegas should be expected, the budget will still be in the billions.

===================================
August 11, 2014
http://www.fool.com/investing/genera...-facelift.aspx

chris08876 · #31 Posted **Oct 31, 2014, 7:11 PM**

China-themed Resorts World Las Vegas popular with EB-5 investors

Quote:

The US$4billion Phase One of the Resorts World Las Vegas project is proving popular with Chinese investors wanting a coveted EB-5 United States visa, says EB5Select.com

With the previous EB-5 United States visa allocations for the Chinese having been used up early for the first time, a special new Las Vegas hotel project, being marketed in China, is capturing strong interest from investors.

That’s because the multi-billion dollar Resorts World Las Vegas project, from Malaysia developer, the Genting Group, is believed to be the only US property to be themed and focused on Chinese culture.

Phase One of the development, worth US$4billion, is set to create 45,000 jobs and offers Chinese investors the chance to obtain a coveted EB-5 visa.
US immigration specialist EB-5, which is part of the Florida-based Feltrim Group, is currently in China promoting and marketing investment options in the 3,500-room resort hotel, as it has exclusive worldwide rights.

Garrett Kenny, Chief Executive Officer of EB5Select.com, tells OPP Connect, “China absorbed 80% of the EB5 visa last year, so I have been here presenting the new project to immigration companies based here in Shanghai. Almost 90% of our clients for EB-5 are Chinese nationals.”

The 350,000-square foot first phase of Resorts World Las Vegas, to the north of the famous Las Vegas strip includes a 4,200-seat Dancing Dragon Performing Arts Center, 30 restaurants and bars and could take up to three years to complete.

The project, which may have three phases, features a Forbidden City shopping village and Great Wall of China-themed passageway a rooftop sky park and observation deck at the top of a 674-foot tower and a 50,000-square-foot, 58-foot-tall aquarium for exotic fish.

Mr Kenny marketed the project at the four-day, 12th Shanghai Overseas Property & Immigration Show, which ended yesterday (6 October) with EB-5 being a key draw. “Before the end of this year we will have exhibited nine times in China. There is an insatiable appetite from the Chinese people for all things American. We now have full time staff operating in China to assist our clients there.”

The EB-5 visa provides a green card to any foreigner investing at least US$500,000 and creating 10 jobs in America, as long as national allocations are still available.

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http://www.opp-connect.com/07/10/201...b-5-investors/

Rail>Auto · #32 Posted **Oct 31, 2014, 9:33 PM**

Is this the one that had the Formula One racetrack around the middle of it in the original plan?

chris08876 · #33 Posted **Oct 31, 2014, 10:03 PM**

Nope. You might be thinking about a different project that was based on the Southern portion of Vegas. This project is going to replace the Echelon.

chris08876 · #34 Posted **Nov 3, 2014, 12:39 AM**

Height increase:

LAS VEGAS | Resorts World Las Vegas | 674 FT | 492 FT x 2 | 330 FT x 2 | 44-58 FLOORS

Compared to original: LAS VEGAS | Resorts World Las Vegas || 650ft | 492ft x 2 | 330ft x 2 | 44-57 fl

chris08876 · #35 Posted **Nov 15, 2014, 2:09 PM**

News3 HD:

World Las Vegas project adds boost to Strip economy

Video: http://www.mynews3.com/content/news/...ewi1WbZTw.cspx

chris08876 · #36 Posted **Nov 28, 2014, 4:28 PM**

http://knockoutvip.com/resorts-world-las-vegas/

http://activerain.trulia.com/blogsvi...wetz-7-14-2014

RST500 · #37 Posted **Jan 18, 2015, 12:08 AM**

I was in Las Vegas over the weekend and walked by the site. Its under construction and one of the major frames for one of the towers is up. Some of the surrounding areas are somewhat seedy. There's also a major construction site next store but I am not sure what's being built.

chris08876 · #38 Posted **Jan 18, 2015, 5:56 AM**

^^^

Did you take a pic?

chris08876 · #39 Posted **Mar 21, 2015, 4:55 AM**

Resorts World groundbreaking set on Las Vegas Strip

Quote:

The operators of the future Resorts World hotel-casino on the Las Vegas Strip set a date to break ground on the site.

According to Clark County Board of Commissioners, a groundbreaking ceremony is slated for May 5.

Genting Group plans to build the $4 billion, Asian-themed property in phases on the plot of land that was originally reserved for the previously planned Echelon.

Plans call for the property to hold 3,500 rooms in the first phase of construction as well as a casino space of 175,000 square feet.

The county has already approved permits for the signage as well as a decommissioning plan in the event the project falls through.

"You'll have electricians, you'll have teamsters, steel workers all of the folks who come in contact-concrete pours, sheet rock, tile,” Clark County Commissioner Chris Giunchgliani. “There are plenty of work to go around, and men and women that are waiting for those jobs.”

Commissioners hope the resort will compliment SLS Las Vegas and the Rock and Rio festival site as part of a revival of the north end of the Strip.

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http://www.fox5vegas.com/story/28575...#ixzz3Uzcq4kk5

chris08876 · #40 Posted **May 1, 2015, 12:20 AM**

Why other resorts should be worried

Quote:

Roughly 18% of Las Vegas guests are international visitors, and more than half of those come from Asia, mostly China. There has been speculation the resort will try to appeal to this large group of Vegas visitors. Will Asian guests want to visit the U.S. only to stay in an Asian-themed resort? Who knows. However, that's not what should be worrisome to other Las Vegas companies.

MGM and its peers should instead be worried by a huge influx of new hotel rooms and convention space into the city. While casinos are still a large part of the Sin City image, gaming only made up about a third of 2014 Vegas resort revenue.

Instead, MGM and others are collecting their biggest gains in areas like hotel and convention space use. MGM boasted a 6% year-over-year rise in revenue per available room at its resorts in Las Vegas in 2014, led mostly by increased room rates and higher total occupancy.

The 3,000 new rooms and new convention space coming with Resorts World Las Vegas could put downward pressure on room rates and occupancy throughout the city. For companies such as MGM and Caesars that are still struggling just to break even, this coming resort is definitely something to fear.

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http://www.fool.com/investing/genera...ly-coming.aspx