Genting Group Eyes $2B Resort on Former Stardust Site

Projects for mega-resorts or ambitious mixed-use developments were stalled up and down the Strip after the market downturn a few years ago. Since, some residential developments have found new life, with a string of recent acquisitions that have turned things around for some of these projects. MGM is still stuck in a legal battle with Perini over the Harmon tower, but things are pointing towards imploding the building. All of these projects are finding their way as the city is looking to repair its image, and Genting Group is set to further that initiative, as the Malaysian hospitality company has announced the acquisition of the Echelon.

In a step that could help speed the comeback of large-scale development on the Las Vegas Strip, Genting Group wants to build a $2 billion resort on the site once proposed for the abandoned Echelon project, the Las Vegas Review-Journal reported.

The Malaysian hospitality company, which bought the parcel from Boyd Gaming Corp. for about $350 million, plans a 3,500-key hotel and a 175,000-square foot casino component for the project’s first phase. The site is the former location of the Stardust.

Taking a cue from Genting’s properties in New York City and Singapore, the property would be named Resorts World Las Vegas. According to the Review-Journal, the new attraction is set to open in 2016, featuring a palette of dining choices and  plenty of retail space, as well as 500,000 square feet of convention space, outdoor pool and a theater.

Image of Resorts World Genting, Malaysia, courtesy of user Thecatcher09 via Wikimedia Commons