Steelman Spotlight


March 25, 2013

Genting Invades Vegas

Genting Invades Vegas

Genting's ambitions to become a major player in the U.S. gaming market took a giant leap forward last month when the company announced the purchase of Boyd Gaming's suspended Echelon project on the Las Vegas Strip. Echelon had been shut down since 2007 and was becoming a rusting eyesore on the Strip with bare concrete and iron girders reaching to the sky. Genting will create an American flagship for its brand, Resorts World Las Vegas.

Genting paid approximately $350 million for 87 acres on the north end of the Strip, across from the Riviera Hotel Casino. Combined with the 2014 opening of the SLS Las Vegas Casino Hotel (the former Sahara), the project will slide the balance of power on the Strip further north.