The Genting Americas’ project for the US is set to be delayed beyond its 2020 opening goal, the Telsey Advisory Group assessed.
US.- The Telsey Advisory Group LLC issued a note on Wednesday and reported that Genting Americas Inc’s Resorts World Las Vegas could be one of two pending resort projects that will probably face delays. The statement, signed by analyst Brian McGill, foresees the casino developer missing its targetted opening date, set for 2020.
“The most likely new openings to be delayed would be… Resorts World Las Vegas and The Drew,” wrote McGill but added: “However, both properties recently came out and said they expected openings in 2020.”
The casino resort project was labelled by Genting as a “multibillion-dollar integrated resort” but the specific size of the investment wasn’t revealed. Still, analysts estimated the development to be worth around US$4 billion.
Whatever it ends up being worth, the project could be affected by the potential trade war between the US and China as it would hit US-based casino investors and Chinese tourism to Las Vegas, a demographic Genting Americas is targetting with Resorts World Las Vegas. Regarding the trade war and the project’s delay, Mr McGill assessed the slot machines supply for the US casino market would be affected and explained: “As a rule of thumb, it is expected that slots will ship into [a] property 60 to 90 days ahead of the opening. This is when the manufacturers will recognise the sale typically.”
As Genting would require the slots sometime between 2019 and 2020, the international dispute would most definitely strike its aspirations down and would cause the mentioned delay.