by Michael J. Shapiro | March 06, 2013

Malaysian firm Genting Group has purchased the Echelon site in Las Vegas from Boyd Gaming, the company announced Monday. The $350 million deal breathes life into the site of the abandoned $4.8 billion North Strip project that was to have been Echelon, but was shelved in 2008 for financial reasons. Genting will convert the 87-acres, including a number of partially completed structures, into Resorts World Las Vegas, featuring 3,500 rooms in its first phase of construction, along with 175,000 square feet of gaming space, a convention center, and several luxury dining and retail venues. Genting, which currently has gaming facilities in Malaysia, the Philippines, the U.K., Singapore, the Bahamas and New York, has not yet released a timeline for the project.