Marina Bay Sands unveils $1bn reinvestment

Asia News
Marina Bay Sands unveils $1bn reinvestment

The Singapore-based Integrated Resort (IR), Marina Bay Sands has embarked on a major reinvestment programme for its existing property, spanning rooms and suites, new food and beverage offerings and other enhancements.

The US$1bn reinvestment is the biggest since the IR’s opening in 2010, demonstrating parent company Las Vegas Sands’ commitment to Singapore and its tourism industry.

The reinvestment is in addition to the multi-billion-dollar expansion announced in April 2019, which will include the development of an entertainment arena, a luxury hotel tower and additional MICE space adjacent to the current IR.

The reinvestment encompasses extensive upgrading of all rooms and suites in Towers One and Two of the Hotel. Renovation works will be completed in phases over 2022 and 2023. It will also see the IR introducing signature experiences across the 55th floor of all three hotel towers – including a revamped executive club lounge, fine dining experiences, and health and wellness offerings.

Robert G. Goldstein, chairman and CEO of Las Vegas Sands’, said: “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. 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.”

The reinvestment announcement comes as the IR enters its second decade of operations following its 10th anniversary in 2020. Since opening in 2010 at a development cost of $5.6bn, Marina Bay Sands has welcomed over 380m visitors and helped to attract more than 1,000 all-new MICE events to the country.

Las Vegas Sands has also made an investment of approximately $2.2bn in Macao, including at The Londoner Macao, Grand Suites at Four Seasons Macao and The Londoner Court.

Leave a Reply