Hi Jedi friends! The Jedi got a private tour from an inspector at Resort World. He says they were planning to open 2020 or 2021 and they were planning to buy WYNN and Encore. That's why the colors matched. He told us a bunch of other stuff you'll have to watch the video because I can't remember it all. The original article had to be taken down out of respect for Lim Kok Thay, However, since Resorts World stopped paying creditors in June 2020, we felt we should let those who have an interest in Resorts World Las Vegas know what the we know.
Resorts World Costing $4 Billion to Complete
Genting purchased to property for $350 million from Boyd Gaming in 2013. The project was slated to open in 2016 but redesigns caused a delay to 2017, 2019, then 2020. Now the new date is 2021. Genting borrowed $1 billion in April of 2019 to finish the project. The Jedi got this tour of the Resort World back in May of 2019, a few weeks later.
Genting, owned by Malaysian billionaire Lim Kok Thay, operates opulent Resorts World integrated resorts in Malaysia, Singapore, The Philippines, and elsewhere. It has a market capitalization of more than $40 billion, with more than five different publicly traded companies forming the Genting Group.
Genting Stops Paying Creditors
The mood on the site was euphoric. When completed, the project will cost $4 billion. However, in June of 2020, Genting stopped paying it's creditors. They may have to sell off assets to survive.
The Jedi didn't publish this video last year because we wanted to protect the identity of the inspector. But that took a really long time and we only made it about 1/4 of the way. The Jedi decided to publish this video before leaving to Panama because 1) the inspector doesn't work there anymore, 2) Genting has stopped paying it's creditors and 3) enough time has passed. Many of our subscribers have been asking us to share the video. Here it is! We apologize for being so giddy in the video. We were so excited to be on first official tour of a major construction project. The big take away is they were planning to buy Wynn before the shutdown. Who knows what will happen post-pandemic.