The rocky start for Resorts World Las Vegas in 2025 highlights several challenges the megaresort is facing at the north end of the Strip. The first quarter financial results show a significant decline in both revenue and earnings, with a 22 percent decrease in revenue and a 75 percent drop in earnings compared to the same period last year. This downturn follows a $10.5 million settlement with Nevada gaming regulators over anti-money laundering compliance violations.
The casino’s parent company, Genting Berhad, has acknowledged the issues and is focusing on improving margins through strategic growth and operational efficiencies. The drop in financial performance is attributed to a lower hold percentage and reduced visitation following the high volumes experienced during Las Vegas’s first Super Bowl in 2024.
Hotel occupancy and average daily room rates have also decreased, with occupancy at 82.3 percent and ADR at $274, both down from the previous year. In response, Resorts World is aiming to recover and enhance VIP play and improve occupancy rates through an upgraded hotel management system. This system is expected to enhance the customer experience by allowing for real-time hotel offers.
The resort is also dealing with reputational challenges, including issues related to guest relations, which have been compounded by executive changes. The recently appointed CEO has been moved to an advisory role, and the CFO has taken on the CEO position.
To attract more visitors, Resorts World is offering free self-parking in its hotel and guest garages until the end of August. The resort is also investing in upgraded casino management systems to strengthen its customer mix through casino, convention, and direct bookings.