Las Vegas Sands into expansion of Marina Bay Sands Casino
The Marina Bay Sands casino and resort is all into its expansion. It will soon feature a new 1,200-room tower along with an entertainments arena as revealed by operator Las Vegas Sands
Las Vegas Sands Corporation is an American casino and resort operating company based in Paradise, Nevada, USA. Its resorts feature accommodations, gaming and entertainment, convention and exhibition facilities, restaurants and clubs, as well as an art and science museum in Singapore.
It has several resorts in the United States and Asia. Among its properties in the United States are two resorts on the Las Vegas Strip: The Venetian and The Palazzo. Also in the United States is the Sands Casino Resort Bethlehem, located in Bethlehem, Pennsylvania.
According to a report on Asia Gaming Brief, Sheldon Adelson, Chairman and Chief Executive Officer for Las Vegas Sands, the Singapore government is “anxious to get it done” with that his company is now waiting to discover how much the land would cost before making any further decision.
Singapore government wants more quality entertainment said Adelson at the recent Bernstein Thirty Second Annual Strategic Decisions Conference 2016.
Marina Bay Sands addition would feature a similar look, complete with a rooftop pool, but would be distinct and not connect to the existing Sky Park pool. The design and plan would start at the end of the year.
Las Vegas Sands company has been in discussions with unnamed third-parties about the possibility of selling all or part of its retail assets in Singapore.
Las Vegas Sands has already received interest for a stake in its retail mall assets, and current discussions indicate a cap rate of three to four percent and could potentially be even lower.
In Asia, the Marina Bay Sands located in Singapore is the most recent addition to the company’s portfolio. Through its majority-owned subsidiary Sands China Ltd., the company owns several properties in Macau, including The Venetian Macao, The Plaza Macao, Four Seasons Hotel Macao and the Four Seasons-branded apartments at the Sands Cotai Central development, as well as the Sands Macao on the Macau peninsula.