Las Vegas Sands announced an ambitious expansion plan for Marina Bay Sands in Singapore which will see the world renown integrated resort add several significant new tourism offerings to the property.
The company has entered into a development agreement with the Singapore government and said it will quickly begin work on the new project. Located immediately adjacent to the existing Marina Bay Sands Integrated Resort (IR), the key elements of the development will be a new 15,000-seat arena, a luxury hotel tower and additional MICE (Meeting, Incentive, Convention, and Exhibition) space.
The new 15,000-seat arena will play a key role in bringing new and repeat visitors to Singapore, using its production capability to appeal to performers who might not have previously included Southeast Asia on their tours. The hotel tower, which will feature approximately 1,000 all-suite rooms will also include a sky roof with a swimming pool and a signature restaurant. The tower will feature a dramatic atrium, terraces and a combination of meeting rooms, ballrooms and exhibition halls.
The current total projected budget for the expansion is approximately $3.3 billion (S$4.5 billion) and a timeline for its completion is not yet available.
Las Vegas Sands Chairman and Chief Executive Officer Sheldon G. Adelson added that the new development would grow overall tourism to Singapore, much like how the Marina Bay Sands has since opening, continue to create good jobs for Singaporeans and give a boost to local companies who will benefit from the increased tourism and additional procurement spending.
“I’m very proud of the commitments we have fulfilled and our on-going relationship with the people and government of Singapore. Integrated resort development in Singapore is a tremendous example of government and private business working together to maximize an opportunity that benefits all those involved”, concluded Mr Adelson.