Resorts World Las Vegas reported its weakest quarterly performance in two years during Q3 2024, with revenue dropping to $177 million from $218 million in Q2. The property's EBITDA declined significantly to $16 million from $50 million in the previous quarter.

Key factors contributing to the poor performance include:

• Unusually hot summer weather in Las Vegas
• Economic uncertainty during an election year
• Declining room rates ($244 vs $246 year-over-year)
• Reduced occupancy rates (85.1% vs 91.1%)

The $4.3 billion property, which opened in June 2021, faces ongoing challenges including:

• Post-pandemic recovery impacts
• High inflation effects
• Less favorable north Strip location
• Competition from established properties

To drive growth, Resorts World Las Vegas is implementing several strategies:

• Adding new dining and entertainment options
• Expanding retail offerings
• Introducing new performances at Resorts World Theatre
• Leveraging Hilton partnership (203 million Hilton Honors members)
• Focusing on high-net-worth customer acquisition

Despite current challenges, analysts expect improved earnings in 2025. S&P Global Ratings indicates strong financial support from parent company Genting Bhd. The property's average room rates for 2024 show improvement at $267, compared to $256 in the previous year.

The resort continues to focus on database expansion for casino and resort marketing to increase repeat visitation and attract premium customers.

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