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Las Vegas Increases Rooms in its Casino in Singapore
Las Vegas Sands, the biggest casino operator in the world, revealed its plans to add more rooms to the Marina Bay Sands project. The company has already asked authorities to provide more land for the project, so that they can add approximately 60% rooms. Las Vegas Sands came up to that decision because of almost full occupancy.
Currently, Marina Bay Sands has 2563 guestrooms, vast majority of which are always occupied. The company wants to add another 1500 guestrooms, as well as new meeting rooms, ballrooms, and even exhibition spaces. That will significantly increase the US$6 billion casino resort that is already the biggest hotel in Singapore.
Such a popularity of the casino resort is easy to explain – it was opened after a forty years ban on gambling in Singapore. The resort was opened in 2010 in a special development area that is also home to museums, restaurants, and one of the biggest Ferris wheels in the world. Marina Bay Sands is truly big – the resort offers 1.2 million sq. ft. of meeting and convention space, two theatres that host Broadway shows, concert halls and other facilities.
Singapore hotels have good occupancy – the average occupancy estimated 86.3% in 2013. The occupancy of Marina Bay Sands was 98.6% last year, and that’s with the average room rate being US$396.
Las Vegas Sands wants to continue its expansion in the region, and is ready to invest US$10 billion in Japan if the government of the country lifts ban on gambling. The company is also the biggest foreign casino operator in Macau. Las Vegas Sands focuses on Asia as last year the company abandoned its plan to build a US$30 billion casino resort in Spain.
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