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Genting Had its Best Quarter Since Opening

March 1, 2023

According to Malaysia-based Genting Berhad, the owner of Resorts World Las Vegas, the Strip property had its best quarter since opening in June 2021. In the fourth quarter of 2022, the resort’s revenue increased 32% to $227 million, while its revenue for the whole of 2022 increased 120% to $794.4 million. Genting spent $4.3 billion to build the first large-scale integrated resort on the Strip since 2010. The resort had a cash flow of $116 million in 2022, while its hotel occupancy was at 84% for its 3,500 rooms. Genting executives credited the resort’s success to Las Vegas visitor volume of over 38.8 million in 2022, which was 9% below pre-pandemic levels in 2019, and convention attendance of 5 million, 25% below 2019 levels.