Resorts World Las Vegas ramp-up slower than expected: Nomura

Print Friendly, PDF & Email

Malaysia’s Genting Berhad says its recently launched US$4.3 billion Las Vegas integrated resort, Resorts World Las Vegas (RWLV), was “cash flow positive” in 4Q21, however analysts have described its ramp-up as slower than expected.

According to details outlined by Nomura’s Tushar Mohata and Alpa Aggarwal in an overnight note, RWLV recorded revenue of around MYR716 million (US$170 million) and EBITDA of MYR96 million (US$23 million) in the December quarter, largely in line with 3Q21 revenue and EBITDA of MYR723 million (US$175 million) and MYR110 million (US$27 million) respectively.

While Genting Bhd said the property “continues to build its base of