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

A planned casino project for Las Vegas could be postponed due to the ongoing strain between the US 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.

In 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 of last year, 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 US and China, business prospects for US-based Macau casino investors have diminished. Many analysts have said that there is also the possibility that Chinese tourism to the US could be impacted.

Full credit to calvinayre.com Please read more here.

The Daily Payoff
Authored by: The Daily Payoff
Website: Tanner Simkins

Leave a Reply

Your email address will not be published. Required fields are marked *