Resorts World Las Vegas Axes Dozens of Jobs as it Streamlines Operations

Resorts World Las Vegas, an iconic landmark on the Las Vegas Strip, has laid off nearly 50 employees, according to a statement released on the close of Wednesday, March 26^th. This announcement comes less than 24 hours before the casino resort is to be issued one of the heftiest regulatory fines in state history.

"To best position the company, we have made the difficult decision to restructure a portion of our operations by less than 50 full-time team members," the statement read. "We appreciate the contributions all affected team members have made."

Mixed Revenue Reports

On February 27^th, Resort World's parent company, Genting Berhad, released the casino resort's earnings covering fiscal year 2024. The figures indicated a rise in revenue from $5.69 billion in FY23 to $5.82 billion in FY24, representing a 2.2% rise. However, net income fell 5% from $195 million to $185.5 million.

Meanwhile, rising operational costs trimmed the profit margin from 3.4% to 3.2%. Earnings per share were also affected, falling from $0.050 to $0.048. Analysts argue that the decline also resulted from higher expenses.

The company's revenue performance was not explicitly stated as the reason for the layoffs. Still, the statement noted that the decision was "part of our ongoing efforts to optimize efficiency and maximum the exceptional experience we seek to deliver to our guests."

Legal Trouble

This change comes just a day before Resort World Las Vegas and Genting Berhad Executives are meant to appear before the Nevada Gaming Commission. They are scheduled to face a 10-count disciplinary complaint filed by the Nevada Gaming Control Board (NGCB) on March 20^th. The charge was initially a 12-count complaint filed in August 2024 but was recently amended.

The NGCB claims that the casino resort allowed individuals with criminal ties, like illegal bookmaking, to gamble millions in its casino games from 2021 to 2023. The case focuses on the establishment's links to Matthew Bowyer and LeForbs, who spent $17.9 million collectively.

The Repercussions

Genting Berhad entered a deal to resolve the 27-page complaint with a $10.5 million fine. The Strip casino is also expected to provide regular reports of its anti-money-laundering compliance. It will also run mandatory AML seminars to educate its remaining employees.