Plans to Revive Las Vegas Resort

Plans to Revive Las Vegas Resort

Vacation News » North America Vacation News Edition | By WPJ Staff | December 19, 2013 9:51 AM ET

Genting Bhd., Southeast Asia's largest casino operator, plans to spend as much as $4 billion on the unfinished Las Vegas resort the company purchased from Boyd Gaming Corp. earlier this year. 

Genting paid $350 million for the 87-acre site, with plans to open phase one of the re-branded Resorts World Las Vegas in 2015, Bloomberg reports. 

"We're at the moment at the planning stage," Lim Kok Thay, Malaysian billionaire who controls Genting, told reporters. "The group is undergoing regulatory investigations by the Nevada Gaming Board, which is one of the strictest you can get. I'm quite confident we'll obtain this license and only with that we'll commence the construction." 

Mr. Lim operates the only casino in Malaysia, according to Bloomberg. Genting has been growing operations in the U.S. amid restrictions on opening casinos in Malaysia, where Muslims are prohibited from gambling under the country's Shariah lawa. 

The company runs the Resorts World Casino in New York, and is working towards one in Miami, Bloomberg reports.

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