Las Vegas Sands new development in S'pore slated to begin construction by Jul. 2025
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This article has been amended to clarify 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.
Las Vegas Sands' (LVS) plans for another development in Singapore will focus on live entertainment and possible expansion of its casino space, and will complement it's resort here, Bloomberg reported.
Marina Bay Sands' expansion plans include the development of a fourth tower slated to be completed by 2029.
More details of the development will be provided later in 2024, LVS' chief executive Rob Goldstein said at an investors conference on May 29, according to Bloomberg.
The pie in Singapore is shared with rival casino operator Genting Singapore.
"Singapore's become a hugely important market": Goldstein
The new development will have restaurants and an entertainment area.
Earlier reports indicated that a fourth tower will be built on land adjacent to the MBS’ existing three towers.
A state-of-the-art 15,000-seat arena will also be built to stage major concerts.
The Straits Timesreported that it 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.
Any additions must be targeted at “higher-tier non-mass market players, who are mainly tourists”, Singapore previously announced.
This is so that integrated resort (IR) operators can allow new attractions to remain commercially viable.
However, the new development will have fewer rooms than the current Marina Bay Sands resort.
The expansion could begin in July 2025.
During the press conference, Goldstein emphasised Singapore's importance as a growing market, adding that the country is going through a "growth spurt".
"All of a sudden Singapore's become a hugely important market," he said.
He added that Singapore could see US$7 billion (approximately S$9.47 billion) in gambling revenue in 2024 based on current trends.
He added that the amount is projected to increase to US$10 billion (approximately S$13.5 billion) in the near future.
Entertainment an important factor
Goldstein also emphasised the importance of entertainment and live show venues in the new building.
According to drawings seen by Bloomberg, a 15,000-seat performance venue will host concerts and attract performers.
"Entertainment is a very important part of the mix," he said.
"We're proposing to build a very big part of that into our new building in Singapore."
Top photo via Victor He/Unsplash
