Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property that hasn’t yet lived up to the hype but which offers undoubted potential as a star of the North Las Vegas Strip.
Opened in June 2021, Resorts World Las Vegas (RWLV) stands as the North Las Vegas Strip’s newest beacon of light, one of a handful of properties unofficially tasked with breathing new life into an area that has lacked vitality for decades.
Located just to the north of, and across the Strip from, Wynn Las Vegas – until recently considered the northernmost tip of the Strip proper – Genting’s US$4.3 billion US flagship is shifting Vegas gaming’s center of gravity northward. Also helping in this regard was the 2023 launch of another new northern Strip property, Fontainebleau.
But Resorts World’s first four years have been far from smooth sailing, even allowing for the fact that the property launched right into the teeth of the COVID-19 pandemic. While Vegas is now pumping with Strip revenue up almost 34% over the past four years, RWLV has yet to fulfil its undoubted potential. Having shown steady growth to reach revenue and EBITDA highs of US$241 million and US$58 million respectively in the fourth quarter of 2023, performance has stalled in the 12 months since with 4Q24 revenue falling to US$190 million and EBITDA to US$16 million.
This is a property that could easily be generating well over US$1 billion in GGR annually at a significant margin. Industry analysts blame the performance to date largely on overhang from regulatory action by the Nevada Gaming Control Board (NGCB) against Resorts World Las Vegas and its owner, Malaysia’s Genting Group. At least the company looks to have put this overhang behind it, with the regulator announcing in late March that it had reached a US$10.5 million settlement agreement with RWLV over allegations it had breached state anti-money laundering laws.
Amongst a number of other early missteps was the September 2023 departure of its controversial foundation President Scott Sibella for “violating company policy” – but RWLV has taken decisive measures since then to turn circumstances around.
In December the company announced the formation of a Board of Directors to be dedicated to RWLV for the first time, with that board to be chaired by none other than former MGM Resorts Chairman and CEO Jim Murren alongside former NGCB chair A.G. Burnett, former MGM and Caesars HR executive Michelle DiTondo, and Genting Bhd’s current President, COO and Executive Director Kong Han Tan as directors. Another big name in former Nevada Governor Brian Sandoval has since joined them, while a new- look executive team is also taking shape under CEO Alex Dixon – another respected Vegas industry veteran.
Implementation of this new-look leadership team has been viewed positively – particularly the presence of Murren – with CBRE Credit Research describing him as the man to drive RWLV forward and help simplify Genting’s complicated US structure, “possibly bringing together multiple restricted groups under a unified capital structure, and thus, singular US operating strategy that truly integrates Las Vegas and New York assets.”
But first things first: how to get the most out of an asset that, while yet to achieve anything near optimal performance, offers clear upside potential given a raft of facilities, some of which are as good as anything else found in the world’s most famous entertainment city.
Speaking at a recent breakfast panel discussion titled, “Strip Hospitality: What Makes a Winning Hand?” hosted by commercial real estate development association NAIOP Southern Nevada, new RWLV CEO Dixon said recent developments in and around the North Las Vegas Strip had breathed life into the area, by way of RWLV’s 3,500 hotel rooms and another 3,600-plus across the road at Fontainebleau, but admitted a vital next step was to improve access by foot.
“We have to pick up that pedestrian foot traffic,” he said. “That’s where the coordination with Clark County [is important], to make sure we’re moving forward with the pedestrian bridges to get people to and from. We have to continue to innovate and activate inside of our building.”
RWLV is, in Dixon’s own words, a “beautiful property” but also one that aims to offer a point of difference from other resorts on the Las Vegas Strip.
According to Chief Marketing Officer Ronn Nicolli, it “redefines the traditional casino experience” by moving “beyond the standard mold, introducing a space that is modern, open and filled with natural light.
“Unlike many resorts that rely on dark interiors and enclosed layouts, Resorts World embraces brightness, high ceilings and fluid design, creating an inviting atmosphere,” he says.
“Each of the three hotels – Las Vegas Hilton (4-star), Conrad (4.5-star) and Crockfords (5-star) – has its own separate entrance, leading guests into the heart of the property: the casino. This central hub seamlessly connects to The District, the resort’s retail and dining promenade, establishing a dynamic flow that makes every part of the resort feel interconnected.”
RWLV’s extraordinarily vast array of F&B options – more than 40 in total – is impossible to overlook, ranging from upscale food hall Famous Foods Street Eats, which is inspired by Southeast Asian night markets, to trendy bars and lounges, half-a-dozen casual eateries and of course some unique fine dining options. For those who love their meat, Carversteak is a popular favorite, although high-end options cover everything from seafood to chic European, Italian, Japanese, Mexican and both contemporary and traditional Asian offerings.
On the property’s selection of hotel brands, Nicolli notes the ability to appeal to a range of clientele.
“The three-hotel model allows the resort to serve multiple types of guests under one roof,” he explains. “The Hilton brand appeals to business travelers and Hilton Honors members looking for a trusted, comfortable stay. Conrad is a lifestyle-driven luxury product, offering a stylish and contemporary experience for discerning guests. Crockfords, as one of Hilton’s most exclusive brands, delivers an ultra-luxurious experience tailored to elite travelers and VIP clientele.
“Unlike many properties that focus on a single identity, Resorts World prides itself on providing a range of experiences, ensuring that whether a guest is visiting for business, leisure, entertainment or gaming, there is an option tailored for them.”
Zouk Nightclub, the popular Asian-born brand owned by Genting Group’s heir apparent Lim Keong Hui, alongside Ayu Dayclub head RWLV’s entertainment offering. And the 5,000-capacity Resorts World Theatre is currently home to residencies by Janet Jackson and Carrie Underwood.
The hidden gem, however, is Awana Spa which, by IAG’s estimation, may truly be the best spa in an integrated resort we’ve ever seen. Without doubt, it’s in the final shortlist.
Aside from all of the traditional offerings one would expect, Awana Spa boasts unique amenities like a therapeutic cold plunge, a series of relaxation pools and an entertainment sauna that provides immersive sound and visual experiences. There are no less than six vitality pools plus a heated crystal laconium room, tepidarium chairs, vapor-filled steam rooms, cool mist showers and an experiential “rain walk” – the latter described as a cooling or warming rain hydrotherapy experience. As far as spas go, this is an experience like no other. Make sure to book in advance, because Awana Spa is amongst the property’s most popular offerings. It’s regularly booked out, especially on weekends.
“Resorts World understands that as the North Strip continues to develop, creating destination-worthy moments is crucial,” says Nicolli. “The resort’s strategy revolves around curating experiences that drive foot traffic and engagement, making guests feel like they are part of something bigger, whether through in-person activations or digitally shared experiences that generate excitement and FOMO.”
The casino itself, IAG notes, is among the world’s first to adopt a fully cashless gaming experience including a dedicated mobile app which allows guests to pay for anything onsite – from slot machines and tables games to retail, F&B and entertainment – through their mobile device.
Despite these great features and innovations, getting the RWLV message out to the world has remained challenging. For Dixon, it is hoped further improvements to the North Strip’s accessibility will play a role in driving more foot traffic, especially once the Las Vegas Loop is finished. The Loop’s existing stations include one at RWLV itself as well as the Las Vegas Convention Center, but future expansion has stops slated for Harry Reid International Airport, downtown Las Vegas and many more, including Allegiant Stadium – the future home of the Oakland A’s, on the site of the now-imploded Tropicana.
“We’re hoping to get the Loop finished. Think of the goods, services and people that can be moved once you have multiple connection points,” said Dixon at the recent breakfast panel. “It’s amazing technology and this needs to come online faster to get to that next plateau.”
Adds Nicolli, “The transformation of the North Strip is one of the most exciting developments in Las Vegas, and Resorts World is at the forefront of this evolution.
“Over the years, the center of activity has shifted – first moving towards Mandalay Bay, then to the mid-Strip. Now, with the rapid development on the North Strip, the area is set to become the new epicenter of Las Vegas within the next five years.
“Wynn and Encore already bring a high level of traffic to the area, and with additional developments like the expansion of Fashion Show Mall, the opening of Fontainebleau and other future projects, the North Strip is poised for a major resurgence.
“The increasing foot traffic and ongoing investments in the area will only enhance the resort’s appeal, making it a cornerstone of the North Strip’s future.”
For Dixon, RWLV’s potential is unlimited. Genting currently owns an additional 40 acres of undeveloped land on site, which could one day house as many as 10,000 hotel rooms in total, he explains, although there is work to do before expansion becomes a reality.
“The amount of undeveloped space and new activation opportunities is amazing,” he states. “Bet on us, bet on Resorts World and bet on the North Strip, because over long periods of time, these infill opportunities on the Strip (or elsewhere) will help drive the growth.
“We have a beautiful property, but the reality in Las Vegas is that a lot of people have nice things and just having nice things doesn’t make you a winner.
“I don’t have a magic wand, but we’re going to make sure we’re moving forward and turning the page so we can welcome people here.”
