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Marina Bay Sands, the impressive integrated resort in Singapore, has been granted an SGD$12 billion ($9 billion) loan to expand its casino. The loan was arranged by over 20 lenders, including United Overseas Bank Ltd, Malayan Banking Bhd, Oversea-Chinese Banking Corp, and DBS Group Holdings Ltd.
The amount is a record for the market, beating the $9.3 billion amount granted to Charoen Sirivadhananabhakdi for his purchase of Fraser & Neave Ltd in 2012.
Cost of casino expansion reaches over $8 billion
Marina Bay Sands has so far failed to discuss the reported loan. It is a similar story to its parent company, Las Vegas Sands Corp. Initially expected to cost around $3.4 billion upon its announcement in 2019, the expansion of Marina Bay Sands Pte is now estimated to exceed $8 billion, more than double the original amount.
This is due to plans for casino complexes, entertainment venues, conference facilities, and luxury hotels. The improvements are hoped to help grow Singapore’s status in the world of business and tourism. This is the latest investment from Las Vegas Sands Corp in Asia. It follows a major project in Macau.
Why Singapore is a growing presence in the tourism industry
Visitors to Singapore were up 21% in 2023. The total was 16.5 million, demonstrating a significant recovery following the Covid-19 pandemic. The majority of visitors came from India, Indonesia, and China. It is hoped that the Marina Bay Sands casino expansion will attract more wealthy tourists. This would improve the country’s gaming, hospitality, and entertainment finances. The expansion of Marina Bay Sands aims to enhance visitor experiences, similar to what many top-rated casinos offer.
Marina Bay Sands opened in 2014, with its 15,000 meter-squared land-based casino home to 600+ gaming tables and over 3,000 slot machines. Visitors can play everything from roulette and blackjack to poker and Sic Bo. There is a SGD$150 entry fee or you can pay S$3,000 for a yearly pass.
When will the expansion be complete?
The initial plan was for the expansion to be completed by 2029. However, LVS recently announced that work would not be finished until 2030 at the earliest. This would make it possible for the casino to open its doors in January 2031. Delays have been put down to revised plans and agreements.
News of the expansion first hit in January 2025, following a $1 billion agreement with the Singapore Tourism Board. Work is expected to begin in mid-2025. The plans, dubbed “MBS IR2”, include a fourth tower with over 500 rooms, a casino space, restaurants, a sky roof, and meeting rooms.
The casino is also aiming to make all gaming tables smart by the end of 2025. This is in an attempt to secure its long-term growth. Most tables already feature a dual camera and AI solution.
Why the numbers add up for Marina Bay Sands
Marina Bay Sands enjoyed a positive end to 2024, reporting a net revenue of $1.14 billion. This was up 7.2% from the same time the previous year. Total gaming revenue at Singapore’s two resorts grew by 8% to S$5.66 billion.
Work to begin on the expansion of Marina Bay Sands later in 2025 Demonstrates the ongoing growth in gambling in the region.
