Resorts World Las Vegas off to a great start

Resorts World Las Vegas off to a great start

The newest Vegas property hits strong revenue after its first week in operation

Resorts World Las Vegas (RWLV) is the newest casino resort to hit the Las Vegas gaming scene, and it is getting started on the right foot. The casino, built by Genting Group, just reported its financials for the first week of operations and, if it keeps up at this pace, it will make other casinos look bad. RWLV recorded $650,000 in daily EBITDA (earnings before interest, taxes, depreciation and amortization) in the first seven days it was open.

Genting just released its second-quarter earnings report for all of its operations, highlighting the performance at its latest property. Daily gaming revenue was $2.5 million during its first week of operations. If it were to continue at this same pace, RWLV is on track to earn $900 million in annual revenue in its first year. The property, which just opened on June 24, offers a massive gaming floor – the first to accept cryptocurrency – and three hotel towers. It also offers retail stores and more than 40 dining facilities.

Of course, much of the revenue will have come from the Vegas curious, those looking to see what the newest casino in Sin City looked like. However, the $4.3-billion property has a lot to offer and will continue to be an attractive option for years to come. The property isn’t completely ready, either, as Genting explains, “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.”

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