Marina Bay Sands given until April 2024 to start work on S$4.5 billion expansion
This is the second delay to Marina Bay Sands’ expansion plan, after the integrated resort operator was initially given a one-year extension to the construction deadline in 2022.
SINGAPORE: Integrated resort operator Marina Bay Sands has been given another year - by April 2024 - to start work on its S$4.5 billion expansion plan.
In a filing by its parent company to the United States Securities and Exchange Commission (SEC), Las Vegas Sands said Marina Bay Sands and the Singapore Tourism Board (STB) have entered into a supplemental agreement to extend the construction commencement deadline.
This is the second time the construction deadline for MBS’ expansion has been pushed back.
The completion deadline has also been extended to Apr 8, 2028. Under the agreement, certain changes to the construction and operation plans can be made.
A filing dated Mar 30 last year stipulated that MBS had until Apr 8 this year to commence construction on the plans defined in the Second Development agreement with STB in April 2019.
The expansion of Singapore's two integrated resorts – Marina Bay Sands and Resorts World Sentosa – was announced in 2019.
Originally set to be completed by 2025, the MBS expansion plan first hit a snag due to the COVID-19 pandemic. STB granted the operator a one-year commencement extension last year.
Among the planned features include MBS' fourth tower, featuring about 1,000 hotel rooms, a 15,000-seater entertainment arena, a sky roof with a swimming pool and a restaurant. There will also be new ballrooms, exhibition halls and luxury retailers.
MBS and Resorts World Sentosa pledged to invest a combined S$9 billion into non-gaming attractions in Singapore as part of an agreement with the government. In exchange, the exclusivity period for their two casino licenses were extended until end-2030.