A senior executive for Las Vegas Sands Corporation has reportedly stated his firm is planning to enlarge its Marina Bay Sands integrated casino resort in Singapore so as to be able to attract even more premium mass-segment players and help the city to ‘mimic’ the growth seen in Macau.
According to an official report, Robert Goldstein (pictured) serves as President and Chief Operating Officer for the Las Vegas-headquartered casino giant and made the revelation yesterday during the Bernstein’s 35th Annual Strategic Decisions Conference investor event in New York City.
The 62-year-old executive declared that Singapore is currently ‘underserved’ when it comes to casinos but that the expansion of his firm’s Marina Bay Sands as well as the nearby Resorts World Sentosa, which is run by Genting Malaysia Berhad, will allow the city-state’s only two gambling venues to capture a player demographic that ‘is similar to that of Macau.’
“We’re looking at [customers from] the entire region. We’re looking at premium mass in Asia. I think this product will be for a very high-end tourist and highly-sophisticated gamblers.”
The government of Singapore reportedly agreed a deal last month that saw it agree to extend its existing duopoly casino market until 2030. In exchange, Las Vegas Sands Corporation and Genting Malaysia Berhad are purportedly being required to spend approximately $6.6 billion on expanding their venues with the former due to add a fourth all-suite hotel tower to the Marina Bay Sands offering around 1,000 rooms alongside a top-floor observation deck complete with a swimming pool and restaurants.
GGRAsia reported that the Nevada casino firm is planning to construct a 15,000-seat arena adjacent to the Marina Bay Sands development, which Goldstein proclaimed should help his company to record a minimum 20% return on its total Singapore investment.
Goldstein furthermore announced that the expansion his firm’s Singapore integrated casino resort will help the former British enclave to better ‘compete with Macau’ by being able to offer visitors from across Asia ‘the same kind of lifestyle approach we did in Macau’ encompassing ‘great entertainment, a world-class arena and large-scale suites that will attract that premium mass-segment.’
“I think all of these [offerings] will drive lots of traffic into Singapore.”