• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 14 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Genting reveals US$650,000 daily EBITDA at Resorts World Las Vegas during first week of operation

Ben Blaschke by Ben Blaschke
Sun 29 Aug 2021 at 07:22
Viva Las Vegas
776
SHARES
19.4k
VIEWS
Print Friendly, PDF & Email

Genting Berhad’s newly opened US flagship, Resorts World Las Vegas (RWLV), generated revenue of US$14.9 million and EBITDA of US$3.9 million during its first six days of operation in June, according to the company’s 2Q21 financial reports published Friday.

The US$4.3 billion integrated resort became the first brand new casino-resort development on the Las Vegas Strip in more than a decade when it opened to the public on 24 June, offering 3,500 hotel rooms, 40 F&B outlets, substantial retail and MICE space and 117,000 square feet of casino floor.

Despite some delays due to the COVID-19 pandemic, the opening also came at an opportune time with pent-up demand seeing Nevada and the Las Vegas Strip notch all-time record revenues in July.

While Genting Berhad has provided few details of RWLV’s performance since, it did incorporate the six days from 25 to 30 June in its 2Q results with revenue averaging US$2.5 million and EBITDA US$650,000 per day during that period.

Were those volumes to maintain, RWLV would print around US$75 million in revenue and US$20 million in EBITDA per month although analysts believe the property can generate up to US$300 million in EBITDA annually once fully ramped.

Genting said hotel occupancy was 71.2% during that first week with an average daily rate of US$239.

“Additional amenities will be completed and opened in the third and fourth quarters, including The Theatre at Resorts World Las Vegas, Zouk Nightclub and the Spa,” the company said.

For the three months to 30 June 2021, Genting Berhad saw its loss narrowed from MYR1,47 billion in 2Q20 to MYR599 million, with the reopening of its casinos worldwide driving a near three-fold increase in revenues to MYR2.94 billion.

Group-wide EBITDA of MYR958.9 million reversed an EBITDA loss of MYR578.7 million a year earlier.

RelatedPosts

In the crosshairs

S&P Global downgrades Universal Entertainment Corp as low Philippines visitation, increased casino competition hinders Okada Manila recovery

Wed 11 Jun 2025 at 05:25
Everi which way

Merged Everi-IGT entity seen holding greater share of US slots sales market than Light & Wonder and Aristocrat

Tue 10 Jun 2025 at 15:16
Sri Lanka approves free visas for visitors from seven countries in bid to boost tourism, revive economy

Junket operations among key discussion points as Sri Lanka government committee delves into casino regulation

Mon 9 Jun 2025 at 05:49
IGT, Scientific Games help boost AGEM Index in December

AGEM Index holds steady in May despite mixed results from gaming suppliers

Thu 5 Jun 2025 at 20:35
Load More
Tags: casinoGenting BerhadLas VegasNorth AmericaResorts World Las Vegas
Share310Share54
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo
568Win

Related Posts

Greg Hawkins named Acting COO of Bloomberry and Solaire following Arasi departure

Greg Hawkins takes on permanent role as President and COO of Solaire parent Bloomberry Resorts Corp

by Ben Blaschke
Fri 13 Jun 2025 at 09:31

Bloomberry Resorts Corp, operator of the Philippines’ leading integrated resort brand Solaire, has confirmed the appointment of Greg Hawkins as Director, President and Chief Operating Officer at a board meeting held earlier this week. Hawkins had previously served as Acting...

Inside Thai IRs

Sands China completes full redemption of US$1.63 billion in notes due 2025

by Newsdesk
Fri 13 Jun 2025 at 05:57

Sands China Ltd, the Macau-facing subsidiary of Las Vegas Sands Corp, has completed full redemption of US$1.63 billion in outstanding notes due 2025. In a filing, the company confirmed that the notes were redeemed in full on 11 June and...

NSW state government moves to ban political donations from any clubs offering gambling

Report finds regulation of NSW gaming machines ineffective in supporting harm minimization outcomes

by Ben Blaschke
Fri 13 Jun 2025 at 05:45

A report by the NSW Auditor-General into the regulation of gaming machines has found that efforts by the state’s regulatory bodies to oversee the industry are not supporting harm minimization outcomes effectively. The detailed 47-page report, published Thursday, listed a...

Macau International Airport to expand into Taipa Ferry Terminal as passenger numbers keep rising

Macau to open up aviation market to more airlines in February 2026

by Pierce Chan
Fri 13 Jun 2025 at 04:32

The Macau Legislative Assembly (AL) has completed discussions on a new aviation bill, which is expected to take effect in February 2026. At that time, Macau’s aviation market will become fully open and the exclusive operating system no longer in...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語