'A brand-new Las Vegas opening like Resorts World can drive increased visitation,' said Barry Jonas, managing director of Truist Securities. 'Las Vegas doesn't operate well without a crowd, and we're going to be completely back to full stadiums, full arenas, full theaters, and all of the entertainment that everybody expects when they come to Las Vegas,' said Hill.Īnd rather than undermining neighboring casinos with new competition, analysts anticipate Resorts World will boost business for everyone. More than 2.9 million passengers traveled through Las Vegas McCarran International Airport in April, the last month where figures are available, representing a drop of 32% from 2019. However, industry insiders anticipate the numbers will rise significantly in May and June. The company's cruise and resort business in Malaysia, Singapore and around the world has suffered with the absence of Chinese visitors. 'They will play a very important part in terms of global travel' Lim said. Genting's chairman said he looks forward to a resumption of Chinese tourism. Travel restrictions and border closures due to the coronavirus are still restricting global travel.īefore the pandemic, Chinese visitors were a small but important part of overall tourism revenue because they typically spend more on shopping, dining, amenities and gambling. Genting Chairman and CEO Kok Thay Lim told CNBC, 'Timing is everything due to luck more than anything else.' There remains some question about how well Resorts World can perform without high-end international travelers, especially those from Asia. Wait times to land a table at popular restaurants have lengthened to the point of frustration for Las Vegas visitors. The timing of the resort's opening certainly seems auspicious.

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