Las Vegas Sands has announced a significant delay in the much-anticipated expansion of Marina Bay Sands, with the completion now projected for January 2031.
According to a Las Vegas Sands US SEC dispatch, the announcement follows the signing of a second supplemental agreement with the Singapore Tourism Board (STB) on January 8th, 2025, which formalizes the timelines for the Marina Bay Sands Expansion Project.
Originally initiated in April 2019, the expansion was set to include a new hotel tower featuring luxury accommodations, a rooftop attraction, premium gaming areas, and a state-of-the-art live entertainment arena with a capacity of approximately 15,000 seats.
The total estimated cost for the project is around $8 billion, which encompasses financing fees, land premiums, and the addition of 2,000 square meters to the gaming area, expanding the total approved gaming space to 17,000 square meters.
Under the new agreement, MBS has committed to assume responsibility for the costs associated with purchasing additional land premiums, which are necessary due to changes in the allocations of gross floor area for the project.
The construction is now slated to begin on July 8th, 2025, with a completion target of July 8th, 2029. However, any extensions beyond this deadline will require government approval.
To date, Las Vegas Sands has invested approximately $1.36 billion into the project, including initial land lease payments made in 2019. An additional land premium of about $1 billion is anticipated, with $850 million expected to be paid in the second quarter of 2025.
In addition to the MBS Expansion Project, Marina Bay Sands has recently completed renovations on Towers 1 and 2, introducing world-class suites and luxury amenities at a cost of around $1 billion.
Ongoing renovations in Tower 3 are estimated at $750 million and are expected to be completed in phases during the first half of 2025. These upgrades aim to enhance the overall guest experience, offering new dining and retail options, as well as improvements to the casino floor.
