Genting Group Purchases Echelon Site on Las Vegas Strip

Malaysian conglomerate, Genting Group, has purchased the Echelon site on the Las Vegas strip and plans to build $2 billion hotel-casino complex, called Resorts World Las Vegas. The 87-acre property development was halted nearly five years ago at the onset of the recession. 

The Genting Group owns casinos in Singapore and New York City, and has paid Boyd Gaming Group $500 million for the Echelon site. They plan to invest an additional $2 billion into Resorts World Las Vegas, which is expected to open in 2016 and will have 3,500 rooms as well as a 175,000-square-foot casino.

This deal breathes life back into the Las Vegas economy and is a sign of resurgence for the city was hit hard by the recession. "The Genting Group and Resorts World Las Vegas will bring several thousand new jobs to our state and will help us in keeping our economic resurgence on the right path toward success," said Nevada Governor Brian Sandoval.

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