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Genting tells Wynn that its Las Vegas casino resort will look 'dramatically different'

TheEdge Fri, Jan 11, 2019 08:48pm - 1 year ago

KUALA LUMPUR (Jan 11): Genting Bhd has argued that its upcoming hotel and casino resort in Las Vegas will look “dramatically different” from Wynn Resorts Holdings LLC when it opens for business in late 2020.

In an exchange filing today, Genting said Wynn Resorts’ claim has been predicated on speculative extrapolation regarding the appearance of its unfinished resort and casino, which it said is still in an early stage of construction with nearly two years left to go before the opening.

“A pictorial representation of the completed Resorts World Las Vegas resort and casino was included in the Opposition to dispel any suggestion that a reasonable consumer could confuse the Defendant’s (Genting’s unit Resorts World Las Vegas LLC) and the Plaintiff’s (Wynn Resorts) resort and casino for each other,” Genting said.

It also claimed that Wynn Resorts has failed to demonstrate the threat of imminent and irreparable harm, which is a key requirement for the granting of any order of temporary or preliminary injunctive relief.

“The defendant maintains that the plaintiff did not adduce any evidence or provide any coherent or credible explanation of how a construction site that is not providing or marketing any service whatsoever could have such detrimental effect on the Plaintiff’s reputation and goodwill, nor satisfy the requisite showing that such an effect is both likely and imminent.”

Genting said the United States District Court of Nevada has granted an extension of time to the Defendant to file its response to the complaint, and any material development of the legal suit will be announced.

Meanwhile, construction activity at the project site continues and remains on track, it added.

Genting share price has been going downhill — it lost 29.6% from RM9.165 12 months ago to RM6.45, for a market capitalisation of RM24.84 billion.

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