Marina Bay Sands in Singapore has begun a comprehensive revamp with a $1 billion price tag. It is the largest-ever reinvestment of the iconic Las Vegas Sands property, which opened in 2010.
According to Asia Gaming Brief, a second S$4.5 billion expansion plan will add more meeting and convention space as well as a luxury hotel and more entertainment facilities.
“We are firmly of the view that Asia will continue to lead as a primary driver of growth in travel, and Singapore will remain a top destination of choice,” said Rob Goldstein, Las Vegas Sands’ chairman and CEO. “Our reinvestment as well as our planned multi-billion-dollar expansion that we announced in 2019 represent a further demonstration of our long-term support for Singapore. It reaffirms our confidence in the future and our commitment to offering industry-leading luxury products and hospitality experiences to our guests.”
The operator said the makeover will elevate the experience in the luxury segment, which is expected to lead tourism recovery. Major renovations were also part of the IR’s deal with the government to extend their duopoly through at least 2030. In exchange for the extension, the Sands and Genting, owner of Resorts World Sentosa, agreed to invest $3.3 billion each into their properties.
Regarding the renovation of existing hotel rooms, Paul Town, Marina Bay Sands’ chief operating officer, said the firm would be “excited to unveil them to guests from around the world in the months ahead as international travel returns following the easing of border restrictions.
“Singapore has been a leader in working towards the safe return of global travel through its vaccinated travel lanes,” Town continued, “and we are grateful to the government for its calibrated approach and unwavering support for the industry.”
