Resorts World Las Vegas may see additional delays beyond 2020

Resorts World Las Vegas may see additional delays beyond 2020

July 12, 2018 9:47 AM
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The Resorts World Las Vegas, the mega-casino/resort project on the Las Vegas Strip could face additional delays beyond the planned 2020 opening date. This, according to Telsey Advisory Group, a consumer-focused research, trading, banking and consulting brokerage firm.

The delay could be result of concerns over Chinese tourism amid a trade dispute between the U.S. and China, Telsey warns.

Resorts World Las Vegas is a planned multi-billion dollar project aimed at Chinese and East Asian customers currently under construction on the former site of the Stardust. Analyst Brian McGill’s comments were in the context of likely demand during 2019 and 2020 for new slot machines in the North American casino market.

McGill did qualify his analysis noting that Genting still expects a 2020 opening.

He also noted that The Drew, the former Fontainebleau project currently moth-balled on the Las Vegas Strip, could also face delays beyond late 2020. The property and partially complete casino/resort that sits on it was purchased in February by New York developer Steve Witkoff.