Genting has released quarterly revenue data for Resorts World Las Vegas revealing that the hotel and casino complex recorded $175 million (€155.4 million) in revenue during the first full quarter of of operations since a $4.3 billion (€3.8 billion) takeover.
Despite a number of attractions still unopen to the public, the complex posted adjusted EBITDA of $27 million.
The news was announced yesterday as part of Genting Berhad’s Q3 report for 2021. According to the report Resorts World along with improvements to the group’s UK gaming operations helped boost revenue by 6% to MYR3.5 billion ($827.7/€734.7 billion). This was despite overall casino revenue in Malaysia and Singapore dropping significantly due to closures caused by the global pandemic.
However, Genting which also operates in the online casino space stated that Resorts World’s performance could have been dramatically better were it not for Nevada’s face mask mandate that requires all customers to wear a face covering when in public indoor areas. The mandate resulted in several conventions being cancelled leaving hotel occupancy at just 54.9% for the quarter.
The hotel and casino complex officially opened on June 24th 2021, with Zouk Nightclub, the Spa, several retail outlets, and restaurants all open for business at that time. Additional retail stores and dining facilities are expected to open alongside The Theatre at RWLV in the fourth quarter of 2021.
Image by Tomás Del Coro / CC BY-SA 2.0
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.