Operator News
Asia – Sands in talks with ‘major country’ for new casino resort in Asia
By Phil - 14 March 2022
Having off-loaded its Las Vegas casinos, Las Vegas Sands Chairman and CEO Rob Goldstein has confirmed the operator is discussing building a Marina bay Sands scale reports casino with a ‘major country’ in Asia.
Speaking to the Las Vegas Review-Journal, Mr. Goldstein said: “I don’t want to say where, but we’ve had some rather interesting conversations with a major country there that has reached out to us. It’s proprietary, but we’re looking to build something of scale much like Marina Bay Sands. A lot of countries in Asia have reached out to us over the years, but nothing’s happened. This one feels like it might be a major prospect. A major country, a top-tier country. I hope it’s real.”
Goldstein did reiterate that Japan is currently not an option for Sands.
“It depends on the jurisdiction, but obviously our preferred approach is an IR model with a multitude of offerings for customers ranging from casino, hotel, spa, convention, retail, restaurants and business centers,” Mr Goldstein said. “The model works, and we’ll continue to use that model in future developments. We’re talking to three states right now, and that’s the preferred approach. We’re also in discussions in a few places in Asia.
“We’re building a new one hopefully starting next year, our second Marina Bay Sands in Singapore, a fully integrated Phase 2 of our Phase 1. We don’t plan to stray from the IR model unless the jurisdiction doesn’t want an IR. That’s how we see ourselves, as large-scale IR developers. That’s our bread and butter.”
One market opportunity that does exist in Asia lies with the unfulfilled casino license in Saipan in the Northern Mariana Islands. Imperial Pacific International had its license to operate the casino there suspended indefinitely by the Commonwealth Casino Commission (CCC) of the Northern Mariana Islands but whether that would fit Mr. Goldstein’s description of a major country is doubtful.
Having violated five orders of the Casino Control Act, the operator was ordered to pay $6.6m in total penalty within six months, and pay immediately $15.5m and $3.1m in annual casino exclusive license fee and annual casino regulatory fee, respectively.
It was unable to pay its US$3.1m annual regulatory fee in 2020 due to the effects of the coronavirus pandemic and also failed to comply with an order to pay money owed to vendors, has breached minimum capital requirements, opted not to pay the cost of its annual US$15.5m casino license in 2020, and was twice unable to pay US$20m owed to the community benefit fund in 2018 and 2019.
The casino and hotel have been closed since March 2020 with the operator confirming a US$367m loss for FY2020.
Thailand also offers a huge opportunity if new laws can be passed. It is one of only three ASEAN nations without legal casinos, alongside Indonesia and Brunei. Lat year country officials confirmed they would launch a feasibility study into the effects of introducing casino gaming via an integrated resort with a casino.
The House of Representatives have charged an extraordinary committee of 60 people with the task of evaluating the benefits of a casino to boost tourism and the local economy.
Thai Prime Minister Prayut Chan-o-cha claimed in January that casinos could help the country out of COVID with Palang Pracharath Party (PPRP) leader Gen Prawit Wongsuwon saying: “Look at the countries around us. Our people visit those casinos too.”
