“(The convention and meeting business) never canceled, but they postponed and are now moving into later part of the year.”

“The groups are starting to come back,” Sibella said. Genting Berhad, a multifaceted conglomerate that has Resorts World branded casinos throughout Asia (including Singapore) and in New York, said the casino group’s revenue as a whole was $3.2 billion in 2021.īecause Genting doesn’t break out the financial figures for its individual casinos, Wednesday’s hearing allowed for the first look at how the property is performing financially. Yee Fun Wong, chief financial officer for Malaysia-based Genting Berhad, which developed and owns Resorts World, told the control board that the Las Vegas property contributed $352 million in revenue and $54 million in cash flow to the company’s balance sheet over the last half of 2021. In a presentation to the Gaming Control Board Wednesday, Resorts World Las Vegas President Scott Sibella said COVID-19 restrictions and delays in opening several of the property’s entertainment venues slowed the Strip resort’s progress following a grand opening celebration on June 24, followed by a busy July 4th holiday weekend. Just three months shy of its one-year anniversary, Resorts World Las Vegas hit 75 percent of its cash flow projections during 2021 and is making plans for a second phase of the $4.3 billion, 3,500-room Strip hotel and casino.

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