Malaysia’s Genting Group can move forward on its $4B Vegas casino project after getting approval from the Clark County Commissioner.
Resorts World Las Vegas (RWLV) announced that it has received a land entitlement for its 87.8 acre north Strip location. RWLV General Counsel Gerald Gardner told the Review Journal that the commission’s approval was “a significant step in the project,” as it allows the company to use the land as intended.
The construction of the parking garages are almost finished while hiring a construction manager for the project will begin in a few months.
When it opens in 2018, the Chinese-themed resort will feature a 1000-room hotel tower, which will eventually grow to four towers with 3,000 rooms and suites combined. The gaming floor will occupy around 175k square feet while non-gaming amenities will include a replica of the Great Wall of China, indoor water park, 4000-seat theater and approximately 30 dining and nightlife facilities. A one million square foot convention center is also planned for a later phase development.
RWLV is expected to bring 30,000 construction jobs and 13,000 permanent jobs; a bold new addition to the Nevada economy.
The free parking era in Las Vegas is over
Free parking is a long-time Las Vegas tradition, which is why MGM Resorts’ decision to break it is causing a stir in the city.
In a press release, the company announced that it is ending its free parking this spring. Instead, it will charge up to $10 for overnight self-parking, and even more for valet parking.
MGM said that the company didn’t “take this change lightly,” recognizing pay-to-park was “a significant departure from a long-established model in the Las Vegas market.” But the policy change is part of MGM’s $90m strategy to enhance parking areas and infrastructure.
The plan also includes building a $54m, 3000-space parking garage behind Excalibur to serve customers from MGM’s $350 million Arena.
