In a filing to the Securities and Exchange Commission Wednesday, LVS said it had reached agreement with the Singapore Tourism Board to build a 1,000-suite luxury hotel tower onto the Sands, as well as a state-of-the-art live entertainment arena.
Sheldon Adelson’s Las Vegas Sands Corp is to plow $3.3 billion into revamping and expanding its Marina Bay Sands resort in Singapore — the richest casino company in the world’s most profitable property.
Renovations will encompass a “comprehensive range of integrated amenities for tourism, recreation, entertainment and lifestyle,” LVS said, plus expanded “MICE” (Meetings, Incentives, Convention and Exhibition) facilities.
$1.5 Billion EBITDA
The Marina Bay Sands was the most expensive standalone casino in the world when it opened in 2010 at a cost of around $8 billion. It’s one of just two licensed casinos in Singapore, the prosperous island city-state at the southern tip of the Malaysian Peninsular.
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