Resorts World Las Vegas Begins Construction
Across the street from Sapphire Gentlemen’s Club exists a $4 billion diamond in the rough. The north Strip construction site of the scrapped Echelon project has been mostly dormant for nearly seven years but is now buzzing with activity since the new Resorts World Las Vegas construction project has officially broken ground for construction. However, this undertaking is massive and Resorts World Las Vegas is not predicted to open until mid 2018.
Genting’s Huge Undertaking
Malaysia-based Genting Berhad followed through on their announcement to break ground for construction on the $4 billion Asian-themed resort starting May 5, 2015. Genting Berhad is the investment holding and management company of Genting Group, Malaysia’s leading corporation with multiple successful Resorts World properties in Singapore, Manila, and New York. The Resorts World Las Vegas construction project has been in the planning stage for two years and is is projected to include around 6,500 hotel rooms and a casino. With an 87 acre footprint, contractors will have a lot of room to play with. On-site amenities and entertainment will include elaborate gardens with live entertainment, a large aquarium, sky casino, observation deck, 4,000 seat theater, and 30 food and beverage outlets.
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Spokesman Michael Levoff confirmed the Resorts World Las Vegas construction groundbreaking date in an email and said more details will be provided in coming weeks.
Resorts World Las Vegas Digital Rendering Photos
Purchased in March 2013 from Boyd Gaming Corporation for $350 million, Genting announced plans for the Resorts World Las Vegas Project. The site was once home to the Stardust and currently houses the unfinished Echelon project which Boyd halted in late 2008.
According to Genting spokesman Levoff, $2 million of preliminary work including utility relocation has already been completed and building permits have been renewed. Even though Resorts World Las Vegas will break ground and begin construction May 5, the project will take multiple years and at least 3 phases to complete.
Resorts World Las Vegas Brings Millions In Revenue To The Strip
Resorts World Las Vegas will create thousands of jobs and provide $1.5 billion in construction wages and $84 million in taxes. Once open, the property is expected to account for 8,500 direct jobs and 3,300 indirect jobs. The development is projected to to generate over $150 million in annual tax revenue.
The completion of Resorts World Las Vegas construction will also benefit not only Las Vegas as a whole, but the plethora of businesses that surround it in the industrial district. This includes the award-winning Sapphire Gentlemen’s Club and Sapphire Dayclub which occupy 7 acres directly across the street. (See below)
Photos from Sapphire Dayclub
Photos from Sapphire Gentlemen’s Club
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Genting is a multi-faceted corporation with investments and business not only in property development but in energy production, biotech/life science research, and oil/natural gas exploration. With over $5.2 billion in revenue from 2013 and over $5 million csh in hand, it is very unlikely that the Resorts World Las Vegas construction project will share the unfortunate fate of its site’s predecessor, The Echelon.
