Las Vegas Sands may expand casino space at Marina Bay Sands

The Straits Times
Las Vegas Sands may expand casino space at Marina Bay Sands
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SINGAPORE - Las Vegas Sands’ (LVS) plans for Singapore may include expansion of its current casino space at Marina Bay Sands (MBS).

Bloomberg reported earlier on May 30 that LVS plans another development in Singapore to complement its casino resort here, including more space for live entertainment.

It will have fewer rooms than the existing MBS resort, but will have a casino, restaurants and an arena, the report said.

It quoted LVS chief executive Rob Goldstein as saying at a May 29 investor conference that the company will give more details of its Singapore plans later in 2024.

LVS had said in April that construction on a $4.5 billion expansion could begin in July 2025, and be completed by 2029.

Earlier reports said a fourth tower will be built, together with a state-of-the-art 15,000-seat arena to stage major concerts, on land adjacent to the MBS’ existing three towers.

The Straits Times understands that there will not be a new casino facility in the fourth tower, but an expansion of the current casino space granted by the authorities in 2019.

Singapore had announced then that integrated resort (IR) operators can expand their casinos in order for the new attractions to remain commercially viable, but any additions must be targeted at “higher-tier, non-mass market players, who are mainly tourists”.

If the IRs do expand their casinos to the maximum allowed, it would increase the current gaming space from 30,000 sq m to 32,500 sq m, it was then reported.

“Singapore is going through a growth spurt,” Mr Goldstein said on May 29. “All of a sudden, Singapore’s become a hugely important market.”

LVS, which operates a casino here along with rival Genting Singapore, saw revenue at MBS rise 36.8 per cent to US$1.16 billion (S$1.57 billion) in the first quarter of 2024 on a rebound in tourism. Casino takings jumped 44.9 per cent to US$859 million from US$593 million in the year-ago quarter.

Mr Goldstein said on May 29 that based on current trends, Singapore could see US$7 billion in overall gambling revenue in 2024, and reach US$10 billion in the near future.

As for the entertainment arena, the company is interested in hosting concerts from the likes of Taylor Swift and Bruno Mars, as well as Asian acts, Mr Goldstein said on May 29.

“Entertainment is a very important part of the mix,” he was quoted by Bloomberg as saying. “We’re proposing to build a very big part of that into our new building in Singapore.”