Resorts World Las Vegas posts record revenue in Q3
Revenue increased by 11.7 per cent quarter-to-quarter to a record $230m.
US.- Resorts World Las Vegas (RWLV) has announced its financial results for the three months ended September 30. The company registered $230m revenue, up by 11.7 per cent quarter-to-quarter. EBITDA was $52m, up 52.9 per cent.
Genting Group, which opened Resorts World Las Vegas in 2021, said hotel occupancy at RWLV had climbed to 90.4 per cent for the quarter, compared with 82.4 per cent for the first nine months of 2023 combined. The average daily rate was $256m compared with $233m year-to-date.
The company stated: “RWLV benefited from a mix of concert headliners and events, including the NFL Super Bowl and college basketball tournaments, paired with a robust convention quarter which drove strong visitation to RWLV’s property. The stronger USD also contributed to increased revenue and EBITDA.”
In June, Resorts World Las Vegas launched a national brand campaign “Rule the World.” The campaign was directed by photographer and director Kenneth Cappello. It showcased luxury automobiles, vintage designer fashion, cameos by Raider’s owner Mark Davis and tie-down roper Shad Mayfield, Resorts World Theatre residents and over 100 property team members.
Fontainebleau Las Vegas gets greenlight for December 13 opening
Fontainebleau Development has confirmed that the $3.8bn Fontainebleau Las Vegas will open on December 13. The Nevada Gaming Commission unanimously voted to licence the property and key executives.
Jeffrey Soffer, CEO and chairman of Fontainebleau Development, thanked Nevada regulators and Clark County for helping bring the project to completion: “We’re also grateful to the people of Nevada and Las Vegas for their support of our project, as well as our members, who have been working tirelessly to bring Fontainebleau Las Vegas to life. The completion of this project is a testament to dedication, innovation, and our collective belief in creating unparalleled hospitality experiences,” he said.
