Most companies are complaining about how business is becoming tough, year in year out, but this is not the case with Resorts World Las Vegas. Resorts World Las Vegas, a baby by the Genting Group, is expected to officially open its doors in 2021. It is considered the most expensive hotel ever to be built and even before its grand opening, its executives are already hoping for the best.
According to the news that reached the CalvinAyre.com, the resort is expected to generate more than 75% of its revenue from non-gaming sources. This is according to a statement by the resort’s president, Scott Sibella. Recently during an interview, Sibella exhaustively explained why they expect such huge returns from other sources other than the casino.
He started by explaining how when designing the resort, they were dynamic and considered people’s wants other than gambling. People change over time and their needs and wants also change with them.
Initially, the project was to be worth 4 billion dollars but due to unexpected hiccups, it will finish with a final price tag of 4.3 billion dollars. The project rests on two-thirds of the 88-acre piece of land that was initially owned by the Stardust. According to calvinayre.com the rest of the land will be used in the future for developments, as the company’s president hinted.
However, the other details as to how this was to be done progressively and who in particular would be in charge of exactly oversee the whole process have not been disclosed to the public.
The resort come casino is expected to be a masterpiece with 3500 hotel rooms, 220 000 square feet of pools and another 350 000 square feet for meeting and banquet space. It was rumored the resort would have an Asian based theme, something that Sibella refuted. He rectified the rumor by adding that the art, floors, and palettes will be inspired by the Asian culture.
Seems there is more than meets the eye. Sibella further explained that the casino will be located on 110 000 square feet of land. It will be equipped with the latest equipment and games to include private gaming areas and a room set aside just for poker. There will also be an entertainment area, which will rest on 14 000 square feet and will include a race and sportsbook. There will also be live entertainment playing all through.
It is evident that the resort has so many other sources of revenue including the many shops, hotel rooms and banquet halls. Whatever the case the project has to make money. Otherwise, it will be a total disaster for the investors.
Initially, the resort was to be completed in 2014 but that did not happen. Unexpectedly, the groundbreaking happened in 2015 and it wasn’t until 2 years later that construction began. It has not been easy but all we can do is hope for the best for the Getting group’s mega project.