Sheldon: “More quality entertainment”
The Las Vegas Sands Corp. has announced plans to add from 1,000 to 1,200 hotel rooms to a new tower at its Marina Bay Sands resort in Singapore.
“The government wants more quality entertainment,” said Sands Chairman Sheldon Adelson, who added that the government is “anxious to get it done.” He, too, is wasting no time on the project. “We could design and plan before the end of the year,” said Adelson. He said the new hotel tower will echo the distinct design of the existing development, with its unusual silhouette and rooftop pool.
According to the Asia Gaming Brief, the Sands Corp. is considering selling its retail assets in Singapore. “LVS has already received interest for a stake in its retail mall assets,” reported brokerage Sanford Bernstein following an investor conference. “Current discussions indicate a cap rate of 3-4 percent and could potentially be even lower.”
