Las Vegas Sands plans another development in Singapore

Las Vegas Sands (LVS) plans another development in Singapore to complement its casino resort there, including more space for live entertainment.

The company will give more details later in 2024, chief executive Rob Goldstein said on May 29 at an investor conference.

It will have fewer rooms than the existing Marina Bay Sands resort, but will have a casino, restaurants and an entertainment arena.

The project is separate from a US$1.75 billion (S$2.37 billion) refurbishment of the existing Marina Bay Sands property.

“Singapore is going through a growth spurt,” Mr Goldstein said. “All of a sudden Singapore’s become a hugely important market.”

LVS, which shares the market with rival casino operator Genting Singapore, saw first-quarter revenue in the country increase 37 per cent to US$1.16 billion (S$1.57 billion).

Based on current trends, Singapore could see US$7 billion in gambling revenue overall in 2024, on its way to US$10 billion in the near future, Mr Goldstein said.

LVS said in April that construction on the expansion could begin in July 2025. Drawings show a new hotel tower and a 15,000-seat performance venue.

The company is interested in hosting concerts from the likes of Taylor Swift and Bruno Mars, as well as Asian acts, Mr Goldstein said.

“Entertainment is a very important part of the mix,” he said. “We’re proposing to build a very big part of that into our new building in Singapore.”

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