Las Vegas Sands plans $1bn Marina Bay Sands expansion
Las Vegas Sands has entered into a $1bn agreement with the Singapore Tourism Board to expand its Marina Bay Sands resort, targeting completion by 2029.
Key points:
– The expansion project includes new gaming, hospitality and entertainment facilities
– A $1bn land premium has been agreed upon for the development
– Construction is set to begin by mid-2025, with completion anticipated by mid-2029
Las Vegas Sands has announced a major agreement with the Singapore Tourism Board (STB) to expand its flagship property, Marina Bay Sands (MBS).
The deal, detailed in an SEC filing, involves a $1bn land premium and aims to improve the integrated resort’s gaming, hospitality and entertainment offerings.
The Marina Bay Sands Expansion Project is scheduled to commence construction by 8 July 2025, with an estimated completion date of 8 July 2029.
The project will include designated areas for gaming, retail and hospitality, along with other facilities intended to improve the guest experience.
This project is expected to contribute to Singapore’s position as a destination for integrated resorts and global tourism.
Additionally, LVS has reportedly committed to adhering to local regulations, ensuring the project aligns with sustainability goals and community standards.
Good to know: The agreement with the STB builds upon a 2019 development plan that initially outlined the expansion of Marina Bay Sands.
In 2024, Las Vegas Sands was recognised for its environmental, social and governance (ESG) initiatives, maintaining its position on the Dow Jones Sustainability Indices for the fifth consecutive year.
The company also reported a 50% reduction in carbon emissions compared to its base year.
This latest development follows LVS’s ongoing investments in the Asia-Pacific region, including projects in Macau and the expansion of its Singaporean footprint.
As construction progresses, further updates on the project’s milestones and impact on the integrated resort sector are expected. Elsewhere in the region, Thailand’s Cabinet today approved a draft bill to legalise land-based casinos.
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