Deutsche Bank Securities reprots that four new resorts being built will create an estimated 45,000 new hotel rooms by 2012. As a result of this huge increase in rooms there will be 113,500 new jobs created within the casino industry.
The Las Vegas Sands Corp. plans to open $1.8 billion Palazzo hotel later this year with 3,025 rooms.
Wynn Resorts Ltd. has begun construction on Encore, a $1.4 billion, 2,000 room resort expected to open in 2008.
MGM Mirage's $7 billion Project City Center, which includes a 4,000 room hotel-casino and four high-rise condominiums totalling 2,700 rooms is under way.
Boyd Gaming is preparing the closed Stardust site for Echelon Place, a $4 billion project that totals 5.300 hotel rooms.
Station Casinos is expected to break ground this month on Aliante Station, a $600 million hotel-casino in North Las Vegas.
Clark County typically sees about 7,000 new residents per month and the investment firm is thinking that that will not be enough to supply the needed demand for workers. Analysts believe that 8,000 new residents will be needed to fill the job market.
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