Malaysia’s Genting Bhd Gets Approval for Las Vegas Project

Genting Bhd continues to expand overseas with the confirmed approval from the Nevada Gaming Control Board to let the Malaysia company to become a publicly-traded entity. This change in status will finally give the green light to the US$4 billion Resorts World Las Vegas, almost a year after the ground breaking ceremony took place.

According to a report by the Las Vegas Review-Journal (LVRJ), regulators  recommended approval of the suitability of officers, directors and shareholders, as well as Genting’s registration as a public company and its interactive subsidiary for mobile gaming and a loyalty programme. “The recommendation will go to the Nevada Gaming Commission for consideration May 19,” it was revealed by the LVRJ.

The project includes a 3,000-room resort with a 15,000-sq-meter casino. The icon of the resort will be a 56-storey tower and a layout reminiscent of the Forbidden City in Beijing. The construction should start off by the fourth quarter of 2016 with preliminary work planned during the summer.

Genting also has resorts in the Philippines, Singapore, the United Kingdom and the United States. The Las Vegas resort, once opened, is expected to have 2,500 full-time employees. Resorts World is located on the north end of the Strip, which has been neglected by investors in the last decade. The presence of Genting resort is likely to turn the area into one of the most popular sites for visitors. The company hopes to attract not only US domestic visitors but also Asians.