LAS VEGAS SANDS, S’PORE GOVT AGREE TO EXPAND MARINA BAY SANDS IR
BY Zoe Phoon
Las Vegas Sands recently announced a bold expansion plan for Marina Bay Sands in Singapore which will see the integrated resort (IR) add 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 IR, the key elements of the development will be a state-of-the-art 15,000-seat arena, a luxury hotel tower and additional, Incentive, Convention and Exhibition (MICE) space.
Las Vegas Sands chairman and CEO Sheldon G. Adelson said Marina Bay Sands is an iconic tourism destination that has exceeded all of the company’s hopes in growing leisure and business tourism in Singapore and noted the island-state government’s continued support for its development.
Adelson noted the property has achieved amazing success for both Singapore and the company and it plans to create even more with this expansion.
Since opening in 2010, Marina Bay Sands has attracted more than 330 million visitors. The property has brought over 700 new MICE events to Singapore since opening and in 2018 alone, it hosted 3,680 events at the Sands Expo and Convention Centre.
According to a Las Vegas Sands statement, the new 15,000-seat arena will play a key role in bringing new and repeat visitors to Singapore.
With leading design and cutting edge technology, the venue is expected to attract top entertainers from Asia and around the world.
Its state-of-the-art production capability will appeal to performers who might not have previously included Southeast Asia on their tours.
The hotel tower, which will feature 1,000 all-suite rooms and set a new standard of luxury in Southeast Asia, will include a sky roof with a swimming pool and a signature restaurant.
The tower will also feature a dramatic atrium and terraces along with exciting food and beverage offerings and a combination of meeting rooms, ballrooms and exhibition halls.
Moshe Safdie (who designed the original property), Aedas and Gensler are planning to be part of the team responsible for the design elements of the building.
The current total projected budget for the expansion is about US$3.3 billion (S$4.5 billion) but a timeline for its completion is not yet available.
“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,” said Rob Goldstein, the company’s president and COO.
“The expansion of our Singapore IR is a key component of our company’s strategic growth plan and also reflects the strong tourism and business potential in Singapore.
“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.”
Adelson added that the new development would grow overall tourism to Singapore, much the same way Marina Bay Sands has since opening, and would continue to create good jobs for Singaporeans and give a boost to local companies which will benefit from the increased tourism and additional procurement spending.
He noted IR development in Singapore is a tremendous example of government and private business working together to maximise an opportunity that benefits all those involved.
Las Vegas Sands is the world’s pre-eminent developer and operator of world-class IRs.
The company created the MICE-based IR. Its industry-leading IRs provide substantial contributions to its host communities including growth in leisure and business tourism, sustained job creation and ongoing financial opportunities for local small and medium-sized businesses.
Its properties include The Venetian Resort and Sands Expo in Las Vegas, Sands Bethlehem in Eastern Pennsylvania, and the Marina Bay Sands in Singapore.
Through majority ownership in Sands China Ltd, it has developed the largest portfolio of properties on the Cotai Strip in Macau including The Venetian Macao, The Plaza and Four Seasons Hotel Macao, Sands Cotai Central and The Parisian Macao as well as Sands Macao on the Macau Peninsula.