“We were optimistic that things would improve when we opened,” said Scott Sibella, president of Resorts World Las Vegas. “But here we are at 100% [capacity] and everything is going well in Las Vegas, and we are thrilled to be a part of it. “
After years of construction and the ever-present threat of a global pandemic, the massive $ 4.3 billion Resorts World Casino opens this week at a pivotal time for Las Vegas, which is recovering from an economically crippling shutdown.
“With all of this pent-up demand and these newly sidelined restrictions, it looks like they got lucky,” said Steve Hill, head of the Las Vegas Convention and Visitors Authority.
Source : Resorts World Las Vegas
However, Genting Berhad, parent company of Malaysia-based Resorts World, hopes its technology will set it apart from its competitors.
The company advertises its new property as the “most technologically advanced casino in town”. He announced a host of partnerships, which will allow customers to choose mobile payments for everything in the resort, even at betting tables. It has also invested heavily in security and will be the first to use built-in radio frequency identification, or RFID, chips to help report gaming activity.
“We have integrated and created what we believe to be industry-leading cashless betting technology where customers can play in a slot machine using cashless bets from their phone into their app, and they can do the same at a table, ”said Rick Hutchins, senior vice president of casino operations at Resorts World.
Players will be able to load money into their digital wallets using on-site kiosks to deposit money or digitally by logging into a bank account, credit card or PayPal.
Another possible source of funding is cryptocurrency. Sibella said the company is working with the Gemini crypto exchange, owned by the Winklevoss twins, to explore how customers could one day gamble and pay for the property’s amenities and meals with digital currencies.
Source : Resorts World Las Vegas
The timing of the resort’s opening certainly bodes well. Covid restrictions largely ended on June 1. Future bookings have skyrocketed. Waiting times to land a table at popular restaurants have grown to the point of frustrating visitors to Las Vegas.
Genting CEO Kok Thay Lim told CNBC, “The timing is all down to luck more than anything else. “
More than 2.9 million passengers passed through Las Vegas McCarran International Airport in April, the last month for which figures are available, a 32% drop from 2019. However, insiders of the industry expect the numbers to rise dramatically in May and June.
“Las Vegas doesn’t work well without crowds, and we’re going to be completely back to full stadiums, full arenas, full theaters and all the fun that everyone expects when they come to Las Vegas,” he said. Hill said.
And rather than undermining neighboring casinos with new competition, analysts predict that Resorts World will boost business for everyone.
“A whole new Las Vegas opening like Resorts World can increase the number of visits,” said Barry Jonas, managing director of Truist Securities. “As many customers who wish to test the new property also like to visit several properties during their stay. “
Lim inspected his new property with a big smile and said, “It’s great looking around Las Vegas and definitely saying ‘Las Vegas is back in business!’ “