{"id":28729,"date":"2022-04-06T06:42:07","date_gmt":"2022-04-06T09:42:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28729"},"modified":"2026-04-23T09:52:23","modified_gmt":"2026-04-23T12:52:23","slug":"marina-bay-sands-extension-delayed-to-april-2023","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/marina-bay-sands-extension-delayed-to-april-2023","title":{"rendered":"Marina Bay Sands extension delayed to April 2023"},"content":{"rendered":"\n

Las Vegas Sands has said that Marina Bay Sands’s US$3.31bn renovation project will now start in April 2023.<\/p>\n\n\n\n\n\n\n\n

Singapore.- Las Vegas Sands has announced that the Singapore Tourism Board has allowed it company to extend the deadline for its SGD4.5bn (US$3.31bn) expansion project at Marina Bay Sands<\/strong> casino resort to April 8, 2023.<\/p>\n\n\n\n

In 2019, Las Vegas Sands had committed to\u00a0invest S$4.5bn (US$3.3bn) in the expansion of the Marina Bay Sands hotel\u00a0<\/strong>within eight years. However,\u00a0the project was delayed<\/a>\u00a0due to the Covid-19 pandemic.<\/p>\n\n\n\n

Marina Bay Sands is one half the Singapore casino duopoly alongside Genting Singapore Ltd’s Resorts World Sentosa. Both companies had planned to\u00a0end expansion plans by 2025\u00a0<\/strong>but have seen delays.<\/p>\n\n\n\n

According to Las Vegas Sands, its expansion will include an entertainment venue, a new hotel tower with a rooftop attraction, MICE facilities and exhibition halls. The company has also started\u00a0a separate US$1bn renovation project<\/a>\u00a0at Marina Bay Sands.<\/p>\n\n\n\n

Singapore has recently updated its gambling laws and created a new gambling regulatory body<\/a>. It also extended the casino exclusivity of the current two operators until the end of 2030 and introduced a new tax system for gross gaming revenue (GGR).<\/p>\n\n\n\n

Sands China posts US$245m net loss for Q4<\/h2>\n\n\n\n

As previously reported by Focus Gaming News,\u00a0Sands China\u00a0<\/strong>reported a net loss of US$245m for the last quarter of 2021. Revenue was up sequentially by 5.4 per cent to US$649m. However, the figure was down 3.9 per cent when compared to the prior-year period. Adjusted property EBITDA was US$74m, which compares to US$47m in 2020.<\/p>\n\n\n\n

In full-year results, net revenues rose 70.4 per cent year-on-year<\/strong> to US$2.87bn while net loss was US$1.05bn, compared to US$1.52bn in 2020. Adjusted property EBITDA for 2021 stood at US$338m, compared to a negative figure of US$431m in 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas Sands has said that Marina Bay Sands’s US$3.31bn renovation project will now start in April 2023.<\/p>\n","protected":false},"author":176,"featured_media":18489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Las Vegas Sands has secured an extension from the Singapore Tourism Board, pushing the commencement of its US$3.31bn Marina Bay Sands expansion project to April 2023 due to pandemic-related delays. This development coincides with Singapore's updated gambling laws, the establishment of a new regulatory body, and the extension of the existing casino duopoly's exclusivity until 2030, alongside a new GGR tax structure. Separately, Sands China reported a Q4 2021 net loss of US$245m, with full-year net revenues up 70.4% to US$2.87bn.","focusai_entities":"Las Vegas Sands, Marina Bay Sands, Singapore Tourism Board, Genting Singapore Ltd, Resorts World Sentosa, Sands China","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.95), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of GGR Tax Changes?","query":"How will Singapore's new GGR tax system impact the long-term profitability and investment returns for Las Vegas Sands and Genting Singapore, particularly given the extended exclusivity?"},{"label":"MBS Expansion ROI Projections?","query":"What are the updated return on investment (ROI) projections for the Marina Bay Sands expansion, considering the project delays, increased capital expenditure, and the revised regulatory landscape?"}],"footnotes":""},"categories":[28,16333],"tags":[1642,168],"class_list":["post-28729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-south-east-asia-news","tag-las-vegas-sands","tag-marina-bay-sands"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28729","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=28729"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28729\/revisions"}],"predecessor-version":[{"id":28739,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28729\/revisions\/28739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18489"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}