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Resorts World Las Vegas is considering plans to expand. The casino resort on the north end of the Vegas Strip wants to add a convention center to the property.
The proposal was submitted to Clark County. The Winchester Town Board recently discussed the possible addition to Resorts World.
An addition will be easy for Resorts World. The integrated casino resort sits on almost 87 acres of land.
The convention center addition will occupy approximately 10 acres of unused land on the site of the newest casino on the Vegas Strip. Resorts World has been using this vacant land for temporary events.
Resorts World already has about 250,000 square feet of convention space. It’s also the only property with an operational Vegas Loop station that is connected to the nearby Las Vegas Convention Center.
Resorts World Convention Center Plans
Plans call for the convention center are to be built on the northwest corner of the property. An existing structure on the land along Resorts World Drive will become part of the new convention center design.
According to the Las Vegas Review-Journal, the convention center will be 370,000 square feet. The first floor will feature 109,000 square feet of convention and expo space. The third floor will feature a ballroom.
In a statement, the Resorts World PR department said:
“As the newest integrated resort in the most dynamic part of the Las Vegas Strip, Resorts World Las Vegas is moving forward with a number of significant new projects to enhance our guest amenities and experience, including the expansion of our convention, meeting, and events center…We look forward to sharing more information about this and other exciting Resorts World Las Vegas projects in the future.”
The convention center is still in the planning stages. Clark County still has to review the plans. The next step will be for all relevant planning and zoning matters to be sent to the Board of County Commissioner’s Zoning Commission or the Clark County Planning Commission for final action.
Last year there was a rumor that this land could one day be used for a water park.
Resorts World Growing Slowly
The convention center plans were submitted shortly after Resorts World’s parent company, Genting, reported earnings.
According to Inside Asian Gaming, business at Resorts World is growing slowly. Perhaps too slowly for the casino about to celebrate its second anniversary.
Resorts World saw a slight increase in EBITDA (earnings before interest, taxes, depreciation, and amortization) during the first quarter of the year. However, overall revenue was down for the quarter.
Like most Vegas Strip casino resorts nowadays, 25% of revenue for Resorts World during the first quarter was from gaming. The other 75% came from non-gaming amenities such as dining, shows, and hotel rooms.
In fact, hotel rooms were a bright spot for Resorts World during the first quarter.
Hotel occupancy was 89.8% during the quarter. The Average Daily Rate (ADR) was $280. This number includes the full rate for complimentary rooms. Both are up from a year ago when occupancy was 70.8% and ADR was $229.
In addition to planning a convention center, the company updated its Genting Rewards program. There are fewer tier levels and different benefits for customers.
