The Marina Bay Sands casino and resort could well soon feature a new 1,200-room tower along with an entertainments arena after operator Las Vegas Sands revealed it may be looking to expand its development in Singapore.
According to a report on Asia Gaming Brief, Sheldon Adelson, Chairman and Chief Executive Officer for Las Vegas Sands, declared that the Singapore government is “anxious to get it done” with that his company is now waiting to discover how much the land would cost before making any further decision.
“The government wants more quality entertainment,” Adelson told those at the recent Bernstein Thirty Second Annual Strategic Decisions Conference 2016. “We could design and plan before the end of the year.”
Adelson declared that any Marina Bay Sands addition would feature a similar look, complete with a rooftop pool, but would be distinct and not connect to the existing SkyPark pool.
In a follow up note after the meeting, Adelson disclosed that the company has been in discussions with unnamed third-parties about the possibility of selling all or part of its retail assets in Singapore.
“Las Vegas Sands has already received interest for a stake in its retail mall assets,” said 82-year-old Adelson. “Current discussions indicate a cap rate of three to four percent and could potentially be even lower.”
In regards to Macau, Adelson reiterated his optimistic outlook for the region’s recovery although noting that non-gaming amenities will continue to make up an ever-growing portion of operator revenues going forward.
“It’s going to pay the expenses and do a little better but it won’t be a big difference,” said Adelson. “Gaming is where all the money is.”
Adelson additionally predicted that most of the future recovery in Macau will come from the mass market segment with the VIP player sphere set to remain challenging.