Marina Bay Sands has amended the terms of a bank credit agreement which will enable the gaming group to push back the delivery of the Marina Bay Sands expansion construction schedule to March 31, 2022.<\/p>\n\n\n\n\n\n\n\n
Singapore.-\u00a0Marina Bay Sands\u00a0<\/strong>has announced it has\u00a0renegotiated the terms on a credit agreement\u00a0<\/strong>with DBS Bank Limited for its expansion of Marina Bay Sands. The initial SGD8.67bn (US$6.44bn at current rates)<\/strong> was initially agreed in June 2012.<\/p>\n\n\n\n In its second-quarter report, the casino operator stated that as of June 30 2021, the available funds under the revolving loan were US$441m and SGD3.69bn under a Singapore delayed draw term facility \u201conly used for capital expenditures for\u00a0the expansion project of Marina Bay Sands<\/strong>.”<\/p>\n\n\n\n The renegotiation will allow it to push back the delivery of the Marina Bay Sands expansion construction schedule to March 31, 2022. <\/p>\n\n\n\n Other terms agreed include extending the exemption period for Marina Bay Sands operating entities by one year to December 31, 2022, to comply with financial leverage or interest coverage clauses.\u00a0<\/p>\n\n\n\n In 2019, MBS said the expansion of the casino venue, including a\u00a0hotel tower with a rooftop attraction, convention and meeting facilities, would be completed by 2023<\/strong>. However, the completion date was put back to 2024 and then 2025.<\/p>\n\n\n\n The government of Singapore has allowed casinos to resume taking standing bets at table games. Resorts World Sentosa<\/strong> and Marina Bay Sands<\/strong> have also been allowed to increase guest capacity from 25 per cent to 50 per cent<\/strong> of pre-pandemic levels at non-gaming attractions.<\/p>\n\n\n\n The Singapore Tourism Board (STB)<\/strong> said standing bets remain subject to safe management measures such as a 1-metre safe distance between individuals and a maximum of five people including seated and standing players, and the dealer.<\/p>\n\n\n\n Casino operators will have to follow \u201cSG Clean\u201d requirements<\/strong> for good personal and environmental hygiene habits.<\/p>\n","protected":false},"excerpt":{"rendered":" Marina Bay Sands has amended the terms of a bank credit agreement which will enable the gaming group to push back the delivery of the Marina Bay Sands expansion construction schedule to March 31, 2022.<\/p>\n","protected":false},"author":176,"featured_media":18107,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Marina Bay Sands has renegotiated a significant credit agreement with DBS Bank Limited, extending the construction schedule for its expansion project to March 31, 2022, and securing a one-year exemption on financial covenants. Concurrently, the Singapore government has eased operational restrictions for casinos, allowing standing bets at table games and increasing non-gaming attraction capacity to 50% of pre-pandemic levels, subject to safe management measures.","focusai_entities":"Marina Bay Sands, DBS Bank Limited, Resorts World Sentosa, Singapore Tourism Board","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (1.0), product_ux (0.7), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"MBS Expansion Impact","query":"What are the revised financial projections for Marina Bay Sands' expansion project, considering the extended timeline and potential cost overruns, and how will this impact its long-term ROI?"},{"label":"Singapore Regulatory Outlook","query":"How do the recent regulatory relaxations regarding standing bets and capacity limits in Singapore reflect a broader shift in the government's approach to integrated resort operations and future growth?"}],"footnotes":""},"categories":[157,16333],"tags":[23907,168],"class_list":["post-22437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-land-based-casino","tag-marina-bay-sands"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22437"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22437\/revisions"}],"predecessor-version":[{"id":22446,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22437\/revisions\/22446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18107"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Standing bets allowed at table games<\/h2>\n\n\n\n