But don’t expect the creator of some of the world’s most popular and extravagant destination resorts to set up shop in Southern Nevada anytime soon. For the time being, the 69-year-old chairman of Kerzner International Resorts said Wednesday, there’s simply too much on his company’s already expanding plate.
“If you’re in this business, this is the place to be. But we’re doing a lot of stuff right now (elsewhere), and there’s only so much one can do,” Kerzner said. “If you take a four- or five-year look, I’m hoping Vegas can be another destination where Kerzner International can build.”
Kerzner was honored in Las Vegas at the annual International Hotel & Restaurant Show at Mandalay Bay.
Based in New York City but incorporated in the Bahamas, Kerzner International Resorts owns and operates nearly a dozen luxury getaways around the world, including the $ 1 billion Atlantis hotel-casino on the Bahamas’ Paradise Island.
The company also receives a portion of the gross revenue generated at Connecticut’s Mohegan Sun Indian casino; is one of several operators vying for the right to open a resort complex on Singapore’s Sentosa Island in partnership with Asian land conglomerate CapitaLand; and hopes to develop up to four casinos in the United Kingdom should the government there OK a push to expand gaming in the region.
“All of U.K. gaming is up in the sky right now, so it’s very difficult to be precise,” Kerzner said when asked which sites he believes may soon host casinos.
Kerzner International has interests in potential U.K. casinos in Northampton, England; London’s Millennium Dome; Manchester, England; and Glasgow, Scotland.
Overall, Kerzner said his company has about $ 3 billion in new development under way, including the $ 1 billion Phase III expansion of Atlantis Paradise Island; the new $ 1.1 billion Atlantis, The Palm development in Dubai, United Arab Emirates; as well as a new $ 230 million hotel-casino project in Morocco.
Though his empire already spans the globe, Kerzner on Wednesday called Las Vegas the most exciting destination in the world. He said the city has thrived over the past two decades thanks to the efforts of entrepreneurs such as Steve Wynn and other creative forces who have made this city a must-see destination for travelers.
“(Las Vegas) epitomizes the whole philosophy of great resorts, great entertainment — there’s great excitement here,” Kerzner said.
Still, he added it’s too soon to speculate what type of project his company might pursue in Southern Nevada, though any new venture would involve building a resort from the ground up. If Kerzner International were to buy an existing resort, he said, the move would be a precursor to that property’s demolition and redevelopment.
Kerzner also downplayed concerns that expanding global gaming opportunities might someday harm Las Vegas’ tourism industry.
“It’s going to make things even more competitive, but on the other hand I think it opens a lot of new markets,” Kerzner said. “I don’t think Las Vegas is going to be affected by further expansion in Macau, casino resorts in Singapore or elsewhere in Asia. All of that opens up new markets and more promotions, and that’s what this game is all about.”
Kerzner was named International Hotelier of the Year by the Nevada Lodging Association, and given the Dean’s Medal of Distinction as presented by the University of Nevada, Las Vegas’ Harrah College of Hotel Administration.
In addition to Kerzner, MGM Grand President and Chief Operating Officer Gamal Aziz was honored Wednesday as Nevada Hotelier of the Year, and Tom Kaplan, managing partner of Spago and the Wolfgang Puck Restaurant Group, was named Nevada Restaurateur of the Year.
The annual trade show ends today at the Mandalay Bay Convention Center. It is expected to attract 400 exhibitors and approximately 4,000 attendees.
By Matthew Crowley
