The Genting Group (PINK:GMALY) has announced that it plans to build a 3,500-room Asian-themed resort on the Las Vegas strip.
The resort — the first to be built on the strip in years — is being built on land that was already set aside for an earlier abandoned resort project, reports VEGASINC.
In all, the resort will cost $7 billion to construct and will open in 2016. The new complex will be the largest Asian-themed resort in Las Vegas, and the company naturally hopes it will appeal to visitors from the region.
City and county officials are excited about the project going up in the abandoned earlier project’s footprint on the north end of the strip. Clark County Commission Chair Steve Sisolak said, “This is the real deal. You hear a lot of stuff about projects coming in potentially to Las Vegas and Clark County, and they’re more or less pie in the sky and they never get built. But this is real.”