Tag Archives: Marina Bay Sands
Singapore – Marina Bay Sands labelled the ‘most valuable hotel building ever built’
Las Vegas Sands believes it can increase EBITDA at its Marina Bay Sands (MBS) casino in Singapore from the record US$1.86bn achieved in the fourth quarter of 2023 to US$3bn following completion of a fourth tower in 2030. Chairman and CEO Robert Goldstein went as far as to say that Marina Bay Sands was the…
Singapore – Sands China to invest another $750m in Marina Bay Sands
Sands China will launch the second phase of its significant reinvestment programme at Marina Bay Sands in Singapore. Estimated at US$750m, the second phase of transformation will focus on Tower 3, the Hotel Lobby and Sands SkyPark. It will include a reimagined VIP arrival experience, new premium dining and retail offerings, a lobby transformation as…
Singapore – Singapore’s casinos to take four years to reach pre-pandemic revenue levels
Brokerage firm Sanford C. Bernstein believes Singapore’s gaming revenue won’t reach pre-pandemic levels until 2025 with the VIP sector being particularly slow to rebound. Analysts Vitaly Umansky, Louis Li and Kelsey Zhuon believe GGR at Resorts World Sentosa and Marina Bay Sands will take four years to reach 73 per cent of 2019 levels by…
Singapore – Sands to investigate VIP wire transfers at Marina Bay Sands
Las Vegas Sands is creating a committee to examine potential breaches of anti-money laundering standards at its Marina Bay Sands (MBS) property in Singapore. Following claims last year from ex-customer Wang Xi that Marina Bay Sands transferred US$6.8m from his player account to other gamblers without his approval, Sands will be probing money transfers among…
Singapore – Increase in entry fees sees local play fall to 2.7 per cent of local population
Singapore’s Casino Regulatory Authority (CRA) has said it has achieved its goal of lowering the number of locals on gaming floors at Marina Bay Sands and Resorts World Sentosa with the 50 per cent increase in the entry fees introduced in April 2019. The entry fee for 24 hours of gaming was increased from SG$100…
Singapore – Singapore’s two casinos to reopen on July 1
The Ministry of Trade and Industry and Singapore Tourism Board have confirmed that Singapore’s two casinos; Marina Bay Sands and Resorts World Sentosa will be able to open on July 1, operating at 25 per cent of capacity and subject to health and safety measures. Marina Bay Sands said access to the gaming floor would…
Singapore – Investigation at Marina Bay Sands could send VIPs to rival
Las Vegas Sands’ Singapore casino Marina Bay Sands is being investigated by the US Department of Justice (DOJ) for potentially breaching anti-money laundering laws. The DOJ has reportedly issued a subpoena to a former MBS compliance chief to provide documents and any other information related to the accounts of VIP players. The investigation concerns junkets…
Singapore – Sands expects market recovery in Asia by late summer
Las Vegas Sands is hopeful of a return to some normality in its Asian markets by end of the summer, but has warned that its Marina Bay Sands property in Singapore could be more affected by social distancing measures than its Macau casinos. The operator reported a 51.1 per cent decline in first quarter revenue…
Singapore – Singapore’s expanding casinos hit with entrance fee and tax hikes
Entrance fees for locals going into Singapore’s two casinos have doubled with immediate effect in a move expected to wipe 15 per cent off the revenues of one operator. The levy has been increased from SG$100 to SG$150 for saying local attendance on the country’s two gaming floors has ‘declined significantly’ with the problem gambling…
