written and last updated by
Sam Smith at
24 Oct 2024
Journalist, Editorial Department
Casino operator Las Vegas Sands Corp (LVS) plans to invest $8 billion (approximately 775.4 billion rubles) in the construction of a fourth tower at its Marina Bay Sands resort in Singapore. This new phase has been named MBS IR2.
The project will feature additional gaming spaces, over 570 hotel rooms, and a 15,000-seat arena. MBS IR2 will also include retail shops, restaurants, and a dedicated area of 10,200 square meters for meetings and exhibitions.
Las Vegas Sands announced plans for this second phase back in 2019, when the estimated investment was set at $3.3 billion (319.9 billion rubles). The new budget includes $2 billion (193.9 billion rubles) allocated for land payments, while an additional $4.7 billion (455.5 billion rubles) will be spent on design, construction, and related needs.
This week, Las Vegas Sands held a presentation where the operator revealed that it has already submitted a construction application to the Urban Redevelopment Authority of Singapore. Piling and foundation work is expected to commence in June 2025, with the anticipated opening date for MBS IR2 set for January 1, 2031. Initially, the project was expected to be completed by July 2029, but it has faced several delays.
The operator stated that the new tower will feature a full-scale casino, described in the presentation as a "sky gaming hall" on the upper floors, which is expected to cater to VIP guests.
According to Rob Goldstein, Chairman and CEO of LVS, the inclusion of a casino in the project represents the most significant change in the new tower compared to the existing three. "This building is no longer just a hotel. It has a laser focus on the premium mass segment. This project reflects a substantial capital investment aimed at a very, very strong customer segment and a unique asset," he stated.
Notably, only 3% of Singapore residents visited local casinos in 2023.
