- Genting Berhad (OTCPK:GEBHF) is on track to open the first megaresort on the Las Vegas Strip since late 2010 to bring a new competitor for MGM Resorts (NYSE:MGM), Wynn Resorts (NASDAQ:WYNN) and Caesars Entertainment (NASDAQ:CZR).
- The $4B Resorts World Las Vegas is the first megaresort to arrive on the Strip since The Cosmopolitan of Las Vegas was built.
- The property, located on the north end of the Strip, is still anticipated to have an Asia theme.
- The development is seen by The Edge Markets as a positive for Genting Malaysia (OTCPK:GMALY). "Although Genting Berhad is the owner of Resort World Las Vegas, we believe there is a possibility that Genting Malaysia could play a role in the casino once it is completed, most likely as an operator of the casino,” the financial group’s analysts suggest," notes the firm.