US Casino Operators betting on Development following Economic Recovery

Posted on 26 July, 2015 by Jodee Redmond

Now that the US economy has picked up following the global recession, casino development is once again on a roll.

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Several projects are under construction or in the pipeline across the country with a view cashing in on increased confidence.

  • In Las Vegas, construction commenced on May 5 on Resorts World Las Vegas. The resort, being developed by Malysian-based firm Genting Berhad, will have about 3,000 rooms to welcome guests
  • Hard Rock International and Meadowlands Racetrack have proposed a $1 billion casino project for East Rutherford, New Jersey
  • In 2014, Hard Rock announced plans for another casino project in Rensselaer, on the Hudson River in New Jersey
  • Construction also started this spring on the MGM Resorts International, an $800 million casino in Springfield, Massachusetts.
  • Horseshoe Casino Baltimore opened last year. The facility measures 335,000 square feet.
  • Gaming facilities are being expanded on Native American tribal lands located in Arizona, Oklahoma and Southern California.

The recession hit casino development on Las Vegas’ famous Strip exceptionally hard, but the city’s gaming industry has been rebounding since 2010, and its revenues hit $6.5 billion in 2013.

The PENTA Building Group, a Las Vegas-based company is currently working on a project called the Lucky Dragon Hotel & Casino. The new addition to the Strip is scheduled to open its doors in the early spring of next year. The company has several other resort and casino development projects currently in the pipeline.

International companies are also joining in on the Nevada gaming industry rebound. Crown, an Australian company, has announced plans to build a mega-resort on the Las Vegas Strip. It has paid $280 million for a 35-acre site across the street from the Wynn and Wynn’s Encore.

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