Resort World Las Vegas is the newest and most luxurious addition to the Las Vegas Strip. The grand opening of the resort was on June 24th, 2021, and it has been the talk of the town ever since. This magnificent resort is a joint venture between two prominent companies in the gaming industry – Genting Group and Hilton Worldwide Holdings.
Genting Group
Genting Group is a Malaysian-based multinational corporation that has been in business for over 50 years. The company’s primary focus is on leisure and hospitality, but it also operates in other industries such as plantations, power generation, oil and gas, and biotechnology.
- History: Genting Group was founded by Tan Sri Lim Goh Tong in 1965 when he opened his first casino called Genting Highlands Resort in Malaysia.
- Revenue: According to Forbes, Genting Group has an estimated revenue of $20 billion.
- Businesses: Apart from operating casinos and resorts, Genting Group also owns Star Cruises – one of Asia’s largest cruise operators.
Hilton Worldwide Holdings
Hilton Worldwide Holdings is an American multinational hospitality company that manages and franchises hotels and resorts all over the world. The company was founded by Conrad Hilton in 1919 when he purchased his first hotel – The Mobley Hotel – in Texas.
- History: Hilton Worldwide Holdings has a long history of mergers and acquisitions. In 2016, it spun off its timeshare business into a separate publicly traded company called Hilton Grand Vacations.
- Revenue: According to Statista, Hilton Worldwide Holdings had a revenue of $4.3 billion in 2020.
- Businesses: Apart from managing and franchising hotels and resorts, Hilton Worldwide Holdings also operates a loyalty program called Hilton Honors.
Joint Venture
Genting Group and Hilton Worldwide Holdings announced their joint venture in 2013 to build the Resort World Las Vegas. The project was initially estimated to cost $4 billion, but due to various delays caused by the COVID-19 pandemic, the final cost of the resort is estimated to be around $4.3 billion.
- Location: The Resort World Las Vegas is located on the site of the former Stardust Resort and Casino on the Las Vegas Strip.
- Size: The resort spans across 88 acres of land and has over 3,500 rooms spread across three hotel towers – Hilton, Conrad, and Crockfords.
- Attractions: Some of the notable attractions at the resort include a 5,000 seat theater for live entertainment shows, a 70,000 square foot casino floor with over 1,400 slot machines and 117 table games, and a shopping mall with high-end luxury brands like Louis Vuitton and Prada.
In conclusion, Genting Group and Hilton Worldwide Holdings are two prominent players in the hospitality industry that have come together to create one of the most luxurious resorts in Las Vegas – Resort World Las Vegas. With its grand opening in June of this year, it has set new standards for opulence and extravagance on the Strip.