Katy Perry Reported to Headline at Resorts World Las Vegas
Posted on: March 20, 2021, 01:27h.
Last updated on: March 21, 2021, 01:55h.
Pop megastar Katy Perry is planning a residency at Resorts World Las Vegas, Billboard reported on Friday.
The publication said the show would start later this year at the still-under-construction megaresort on the Strip, and run through next year. The $4.3 billion casino is expected to open this summer.
If confirmed, the “Teenage Dream” signer would headline the 5,000-seat theater that Resorts World is building in conjunction with global concert promoter AEG Presents.
Perry would also be the latest in a long line of pop stars who have held court on the Strip over the decades, dating back to the likes of Frank Sinatra and Elvis Presley decades ago. In recent years, artists like Celine Dion, Lady Gaga, and Jennifer Lopez have headlined long-running shows at top resorts.
She’s not the only star attached to the resort. Celine Dion, who had a legendary 13-year-run at Caesars Palace end in 2019, will likely take to the Resorts World stage sometime in late 2022. That’s after the Canadian songstress completes a world tour that’s been delayed by COVID-19.
Katy Perry Can Draw a Crowd
Perry, 36, rose to musical stardom in 2008 with a remake of “I Kissed a Girl,” and has been a popular artist since.
She’s had 34 songs hit the Billboard Hot 100, including 14 top 10 songs and nine chart-toppers. She was named Top Female Artist by the trade magazine in 2014, and won for Best Pop/Rock Female Artist at the American Music Awards in 2011, 2012, and 2014.
In 2015, she headlined the Super Bowl halftime show. That performance drew record viewership of more than 118 million viewers.
For the past four years, Perry has been a judge on the second incarnation of American Idol. The show is no longer the ratings juggernaut it was during its initial run. However, Idol, which airs twice weekly, still has both weekly episodes rank among the top 30 most-watched shows.
In the past decade, Perry has headlined three world tours. Her most recent one in 2018 ranked 29th that year, grossing $55.3 million, according to Pollstar. The 52-show tour in 41 cities sold more than 630,000 tickets at an average price of $87.30.
Last fall, Perry gave birth to her first child, a daughter. She’s engaged to actor Orlando Bloom.
Star Power May Not Boost Resort World’s Bottom Line
While Perry’s appeal will definitely help fill seats and draw guests, some analysts have noted that the 3,500-room Resorts World Las Vegas won’t be profitable immediately upon opening.
In a recent note, analysts from Nomura said the Genting Group property likely won’t be a moneymaker for at least a few years. Some of that may be tied to the ongoing COVID-19 pandemic and the likely gradual recovery after it subsides. Still, there are also depreciation factors to consider once the resort opens.
Nomura expects a utilization rate of 50 percent in 2022, the first full year of operation. It then anticipates 10 percent increases in the following two years.
The buzz for Resorts World Las Vegas has been palpable ever since the Malaysian-based gaming company bought the old Stardust site eight years ago. Delays pushed back the groundbreaking to 2015 and construction didn’t start until two years later.
At a price of $4.3 billion, it would replace the Cosmopolitan as the most expensive resort built on the Strip. It would also be the first resort since the Cosmopolitan to open on the Strip in more than a decade.
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