Las Vegas Sands Corp. (LVS), led by billionaire Sheldon Adelson, has announced a $3.3 billion expansion of Marina Bay Sands in Singapore, the most profitable casino property on the planet.
In a filing with the U.S. Securities and Exchange Commission, LVS confirmed an agreement with the Singapore Tourism Board to add a 1,000-suite luxury hotel tower and a cutting-edge live entertainment arena. The upgrade will also include expanded MICE (Meetings, Incentives, Conventions, and Exhibitions) facilities and a comprehensive range of tourism, leisure, and lifestyle amenities.
A Record-Breaking Property
Since opening in 2010 at a cost of $8 billion, Marina Bay Sands has remained one of the world’s most iconic integrated resorts. Together with Genting’s Resorts World Sentosa, it anchors Singapore’s thriving casino industry, drawing a steady stream of high-value visitors from China and across Asia.
According to The Motley Fool, Marina Bay Sands may be “the most profitable resort and casino in the history of the gaming industry,” generating roughly $1.5 billion in annual EBITDA — nearly one-third of LVS’ total earnings. However, the outlet also noted recent stagnation, with growth slowing as competition in Asia intensifies.
Betting on Growth
Despite questions about its peak profitability, LVS’ $3.3 billion commitment signals confidence in the property’s future and reinforces its influence in the Asian gaming market — especially with Japan preparing to issue its first casino licenses.
“Marina Bay Sands is an iconic tourism destination that has exceeded all of our hopes in growing leisure and business tourism in Singapore,” Adelson said in a statement. “The property has achieved amazing success for both Singapore and our company, and we plan to create even more with this expansion.”
Adelson, 85, is currently receiving treatment for non-Hodgkin’s lymphoma and has been absent from public appearances since late last year, with reports describing his condition as serious.
Explore the best online betting site Singapore with Octabet betting news. Start winning today! Register now!