Las Vegas Sands (LVS) said its US$3.3bn expansion of Marina Bay Sands (MBS) is on track to complete in 2026, a year after its 2025 deadline, as the casino giant bets on a recovery in tourism.
At the US company’s 2021 fourth-quarter results briefing, LVS Chairman and Chief Executive Robert Goldstein also announced that renovation work totalling US$1bn at MBS’ hotel properties is underway.
The update comes after Minister of State for Trade and Industry Alvin Tan noted in Parliament on 10 January that the extent of delays to the expansion of Singapore’s two integrated resorts remains unclear. Mr Tan said MBS and Resorts World Sentosa (RWS) had both flagged potential delays due to disruptions to the construction industry as a result of the pandemic.
In its third-quarter results briefing last year, LVS had stated that its target for completion of the MBS expansion was 2025. This is now on track for 2026, according to LVS. In spite of labour and supply chain risks, images show that construction at MBS has been “moving at a very good pace,” Mr Goldstein said.
The two integrated resorts had announced expansion plans totalling $9bn in 2019. These include adding a fourth tower consisting of a 1,000-room luxury hotel and a 15,000-seat entertainment arena to the MBS development. Rival RWS will add two new zones to Universal Studios Singapore – Minion Park and Super Nintendo World – as well as a new oceanarium.
