Financial Journal Motley Fool has issued a very stark warning about Resorts World Las Vegas, claiming that construction “seems to have halted.” This notice was published explaining that Resorts World, if ever actually built, could be a huge issue for established resorts financially, if it ever gets off the ground. However, their failure to start building, while the Chinese economy is getting worse, may be a huge damper on their future.
Motley Fool Reports that
But the company has been eerily silent, with no recent news or website postings since May 2015’s post about the groundbreaking. The Resorts World Las Vegas Facebook page has only 1,500 likes and hasn’t been updated in six months. I tried contacting Resorts World as well as the contracted construction company, to no avail.
However, some good news: Resorts World general counsel Gerald Gardner told Nevada gaming regulators this week the $4 billion Resorts World Las Vegas project will begin full-scale construction sometime in the last three months of this year.
Appearing before the Nevada Gaming Control Board almost exactly a year after the project held its ceremonial groundbreaking, Gardner said construction would get underway in earnest in the fourth quarter, with site activity starting to ramp up this summer.
Gardner attributed the delay to ongoing work on a “complex design.” He said struggles in the Chinese economy and with Malaysian currency had also affected the timeline.
Resorts World is expected to create about 5,000 direct construction jobs and will have about 2,500 full-time employees. Plans for the debut of Resorts World include a hotel tower with more than 3,000 rooms, a 150,000-square-foot casino and other amenities.
However, not such good news from the Alon Project, which may be completely shut down if no new investors are interested in the near future.
