Las Vegas Sands plans a significant expansion to its Marina Bay Sands integrated resort in Singapore, having secured a development agreement with the government.
The development will feature a 15,000-seat arena, a luxury hotel tower and additional conference and exhibition space, all alongside the existing site.
“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,” said Las Vegas Sands chairman and CEO Sheldon Adelson.
“The property has achieved amazing success for both Singapore and our company and we plan to create even more with this expansion.”
The new arena will attract top entertainers from Asia and around the world while the hotel tower will boast around a 1,000 all-suite rooms, along with a rooftop pool and a signature restaurant.
The current total projected budget for the expansion is approximately US$3.3bn. The timeline for completion is not yet known.
“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 chief operating officer.
“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.”