Casino operator Las Vegas Sands Corp (LVS) hopes a new tower, part of its planned US$3.3-billion expansion project for its Marina Bay Sands casino resort (pictured) in Singapore, will be “in operation” by “January 1, 2024”
George Tanasijevich, the president and chief executive of Marina Bay Sands Pte Ltd, the local unit, had in April said the expansion portion of the Singapore complex would not feature a casino.
But his boss Mr Goldstein noted in the call commentary that the group was already pressing ahead with changes to the existing mass-market casino floor at Marina Bay Sands.
“Our mass casino floor is going through renovation currently and we’ll open renovated by summer of 2020,” said the group COO.
That would be followed by launches for facilities for higher-segment players on levels two and three of the existing property through to the year 2021, added the executive.
The Singaporean government said on April 3 that it had agreed to the expansion of the city-state’s two integrated casino resorts. In return for their investment – an aggregate of SGD9 billion (US$6.65 billion) – the respective operators would continue to hold a duopoly on casino gambling in Singapore through 2030, it added at the time.
Regarding the financing for the Singapore extension, a presentation released by the parent mentioned it was “conducting a process to raise a delayed-draw term loan under the existing Marina Bay Sands credit facility.”