Las Vegas Sands announces $3.3B expansion in Singapore

Las Vegas Sands Corp. will build a 15,000-seat arena and a 1,000-suite luxury hotel tower at its Marina Bay Sands Singapore property, the company announced Wednesday.

The $3.3 billion project was announced in a Securities and Exchange Commission filing. Las Vegas Sands is one of two casino companies with a gaming concession in Singapore.

“Marina Bay Sands is an iconic tourism destination that has exceeded all of our hopes in growing leisure and business tourism in Singapore and it is a privilege to receive the Singapore government’s continued support of its development,” Sands Chairman and CEO Sheldon Adelson said in a release that was a part of the SEC filing. “The property has achieved amazing success for both Singapore and our company and we plan to create even more with this expansion.”

The three-tower, 2,561-suite Marina Bay Sands, which has 1.3 million square feet of convention facilities, 800,000 square feet of retail and a 160,000-square-foot casino with 500 table games and 1,600 slot machines, is one of Asia’s most iconic resort developments.

Designed by Israeli-Canadian architect Moshe Safdie, the building features a three-acre park with a 479-foot infinity pool atop the three 55-floor towers.

Safdie will team with Aedas and Gensler to design the new tower and the arena, the Sands release said.

Since its opening in 2010, Marina Bay Sands has attracted more than 330 million visitors.

The release said work on the project would begin “quickly,” but no timetable was set for its opening.

Japan on horizon

The announcement comes as Las Vegas Sands vies with other casino companies from around the world to build one of three integrated resorts planned in Japan. Sands is competing with Las Vegas-based MGM Resorts International, Caesars Entertainment Corp. and Wynn Resorts Ltd. and several companies from Asia and Australia for the Japan projects.

Marina Bay Sands originally was scheduled to open in 2009, but it was delayed by escalating costs and a labor shortage. Adelson has said the company’s investment in the Marina Bay Sands was more than $8 billion.

Las Vegas Sands competes with the Genting Group in Singapore. Genting opened a family-friendly resort with a theme park as well as a casino on Sentosa Island off Singapore’s coast. Genting is the parent company of the group building Resorts World Las Vegas on the Strip north of Sands’ Venetian and Palazzo properties.

In addition to the new tower and the arena, which is expected to attract entertainment acts that have bypassed Southeast Asia because there is no venue to accommodate large audiences, the expansion will feature new food and beverage offerings. The tower will include a roof-top pool, an atrium and terraces as well as a combination of meeting rooms, ballrooms and exhibition halls.

“New luxury hotel accommodations and a world-class entertainment venue are exactly the catalysts we need to drive additional visitation to Singapore, and specifically to Marina Bay Sands,” Rob Goldstein, the company’s president and chief operating officer, said in the release.

“The expansion of our Singapore (integrated resort) is a key component of our company’s strategic growth plan and also reflects the strong tourism and business potential in Singapore,” he said. “The additional hotel rooms are extremely important to us in addressing the demand created by our leisure and business tourists and our premium gaming customers.”

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