Fri, May 20, 9:24 AM
- The Nevada Gaming Commission approves Genting Berhad (OTCPK:GEBHF, OTCPK:GEBHY, OTC:GEBEY) to take a lead role in the development of a massive $4B project on the Las Vegas Strip where the historic Stardust Resort and Casino once stood.
- The Chinese-themed Resorts World Las Vegas property will include over 3K rooms and a 150K-square foot casino. An opening in 2019 is anticipated.
- What's notable about the project is that it's moving forward despite the tail-off of high-end Chinese gamblers in LV.
- Analysts think the Asian-focused Resorts World could be a net positive for other Strip properties due to the impact on tourism.
- Related stocks: WYNN, MGM, CZR.
- Related ETF: BJK.
May 4, 2015, 2:48 PM
- The iconic Riviera hotel and casino in Las Vegas closes its doors today after a 60-year run on the Strip.
- The Las Vegas Convention and Visitors Authority plans to use the location to build a new $2.3B business complex sometime in the future.
- Across the street from the Riviera, construction for Genting's (OTCPK:GEBHY, OTC:GEBEY) new Asian-themed mega-complex begins tomorrow. The $7B resort is slated to include four towers and over 6.5K rooms.
Mar. 24, 2015, 7:20 AM
- Genting Berhad (OTCPK:GEBHF, OTCPK:GEBHY, OTC:GEBEY) plans to break ground on May 5 on a $4B project on the Las Vegas Strip.
- Resorts World Las Vegas is expected to include 3K hotel rooms, 30 restaurants, and a large casino.
- The site for the complex is the old location of the historic Stardust hotel and an abandoned project from Boyd Gaming.
Currently, there's no company description for GEBEY.
Industry: Resorts & Casinos
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