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Thread: Resorts World Las Vegas could be delayed over US-China trade war

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    Resorts World Las Vegas could be delayed over US-China trade war

    SOURCE CALVIN AYRE

    A planned casino project for Las Vegas could be postponed due to the ongoing strain between the United States and China over trade issues.
    Resorts World Las Vegas, which is planned by Genting Americas, Inc., is one of two that are potentially going to be delayed over the trade war, the other being The Drew.

    Resorts World Las Vegas could be delayed over US-China trade warIn a report published by Brian McGill of Telsey Advisory Group, LLC, the analyst said of the possible delays of both projects,
    “The most likely new openings to be delayed would be… Resorts World Las Vegas and The Drew…However, both properties recently came out and said they expected openings in 2020.”

    Genting Americas is a subsidiary of the Genting Bhd out of Malaysia. It first announced the planned casino in October 2017, describing it as a “multibillion-dollar resort.”
    No exact dollar figures were released, but analysts have previously said that the project would cost around $4 billion. Genting has billed the resort as an upscale destination for East Asian and Chinese gamblers.

    Because of the ongoing trade war between the U.S. and China, business prospects for U.S.-based Macau casino investors have diminished.
    Many analysts have said that there is also the possibility that Chinese tourism to the U.S. could be impacted.

    In addition to the trade war, the prospects of Resorts World Las Vegas were weakened due to slot machines.
    McGill explained in his assessment that there could be a reduced demand for the machines in North America between 2019 and 2020, stating,
    “As a rule of thumb, it is expected that slots will ship into [a] property 60 to 90 days ahead of the opening. This is when the manufacturers will recognise the sale typically.”

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    Moderator sorcer3ss's Avatar
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    Re: Resorts World Las Vegas could be delayed over US-China trade war

    Thanks Vixen

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    Administrator dani3839's Avatar
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    Re: Resorts World Las Vegas could be delayed over US-China trade war

    That sucks!

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