An artist rendering shows the product Genting Group hopes to build after its acquisition of the Echelon site. (Genting Group)
Plans appear to call for multiple towers as part of a complex for the Resorts World. (Genting Group)
LAS VEGAS (FOX5) -
The stalled Las Vegas Strip property known as the Echelon has a new owner and identity.
Malaysia-based gaming company Genting Group announced Monday it has purchased the site that was home of the dormant property for $350 million from Boyd Gaming.
In an announcement that included Nevada Gov. Brian Sandoval and Clark County Commissioners Steve Sisolak and Chris Giunchigliani, Genting revealed for the now-named Resorts World Las Vegas property.
According to the company, plans call for 3,500 rooms to be built in the first phase of construction, as well as a 175,000-square foot gaming space.
There was no timetable announced for construction.
For its part, Boyd Gamin announced the sale as it revealed its fourth quarter earnings.
"While we remain committed to the Las Vegas market, we determined that developing a large-scale project on the Las Vegas Strip was not consistent with our current strategy," said Boyd Gaming president and CEO Keith Smith.
Genting Group is described as a leisure and hospitality company with a number of resorts located in southeast Asia. The company also lists a gaming property in the New York City area.
Boyd Gaming began building at the site where the Stardust Hotel and Casino once stood in the mid-2000's. Construction halted in the midst of the country's economic downturn.
Since the halt, steel beams of the Echelon building were all that existed of the planned luxury resort. The project, along with the similarly-fated Fountainebleu, remained in limbo with not many plans slated for its finish.
Stay tuned to FOX5 for the latest on this continuing story.
Copyright 2013 KVVU (KVVU Broadcasting Corporation). All rights reserved.
Saturday, July 22 2017 3:23 AM EDT2017-07-22 07:23:51 GMT
Sunday, July 23 2017 4:24 AM EDT2017-07-23 08:24:44 GMT
The people of the small, Northern California Gold Rush town of Mariposa are slowly making their way back home after a wildfire left the place a ghost town for most of the week. Some 61 homes have been destroyed by...More >>
The people of the small, Northern California Gold Rush town of Mariposa are slowly making their way back home after a wildfire left the place a ghost town for most of the week. Some 61 homes have been destroyed by the blaze.More >>