This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Genting Group Announces Plans For Transformational New Development Project Along Las Vegas Strip

LAS VEGAS, March 4, 2013 /PRNewswire/ -- Leading Nevada elected officials, including Governor Brian Sandoval and US Senate Majority Leader Harry Reid, today joined Genting Group Chairman KT Lim in announcing plans for a transformational new development project at the Echelon site along the Las Vegas Strip. This morning, Genting announced it has acquired from Boyd Gaming Corporation the 87-acre parcel, which will be used to create 'Resorts World Las Vegas,' Genting's first destination resort in Las Vegas.

(Photo: http://photos.prnewswire.com/prnh/20130304/CL70362)

"We are incredibly grateful to the leaders of the State of Nevada, Clark County and the City of Las Vegas for joining us in announcing what will be a fantastic addition to the top resort destination in the United States," said KT Lim, Chairman and Chief Executive of the Genting Group. "This is a great day for Genting, Las Vegas, and the State of Nevada, and we look forward to taking full advantage of this exciting new opportunity."

"The entrance of one of the world's leading resort gaming developers into Nevada is another fantastic sign that Las Vegas and The Strip are poised for great things moving forward in 2013 and beyond," Governor Brian Sandoval said. "The Genting Group and Resorts World Las Vegas will bring several thousand new jobs to our State, and will help us in keeping our economic resurgence on the right path towards success. I'd like to welcome Genting to the great state of Nevada, and we all look forward to the ground breaking of this new dynamic project."

Resorts World Las Vegas will be a world-class destination resort with 3,500 rooms in the first phase, as well as 175,000 square feet of total gaming space across several gaming floors, and several luxury dining and retail amenities. The resort will also include additional convention space for Las Vegas trade shows, helping the city attract international business travelers with a distinct focus on business-to-business events and conferences.  Over the course of the construction and operation process, Resorts World Las Vegas will bring tens of thousands of jobs to Southern Nevada for many years to come.

" Las Vegas is considered the gold standard in the world of gaming, resorts, and entertainment, and this project is an incredible addition to the thriving industries that call Las Vegas and Nevada home.  A project of this size and magnitude will not only attract more visitors to our State, but will be a boon to the Nevada economy both in terms of jobs and Southern Nevada's continued economic recovery and growth," Senator Harry Reid (D-NV) said.

"This is an unparalleled opportunity to showcase what has made the Resorts World brand a globally recognized success for the past several decades," added Lim.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs