Follow us on Telegram for the latest updates: https://t.me/mothershipsg

Marina Bay Sands (MBS) will complete its S$1.35 billion (US$1 billion) expansion and renovation works by 2026, parent company Las Vegas Sands (LVS) said, according to The Straits Times and CNA.

The original deadline was 2025.

The new deadline was announced by LVS CEO and chairman Rob Goldstein at an earnings call on Jan. 27.

Both ST and CNA did not mention any timeline or plans for the fourth tower's construction.

Currently, the renovation works at MBS' hotel properties are under way.

Huge bet on tourism recovery

However, the S$1 billion expansion and renovation works is LVS making a huge bet on a recovery in tourism, in particular, "high value tourism", with vaccinated travel lanes (VTLs) counted upon to bring in the whales from overseas into Singapore.

The renovation project to towers one and two will bring "luxurious suite products" to the hotel.

These upgrades are expected to be completed in phases between 2022 and 2023.

Original S$9 billion plan for 2 integrated resorts

In 2019, the two integrated resorts in Singapore had announced expansion plans totalling S$9 billion.

These include building a fourth tower for MBS from scratch consisting of a 1,000-room luxury hotel.

The new building will also feature a 15,000-seat entertainment arena.

Competitor Resorts World Sentosa (RWS) will add two new zones to Universal Studios Singapore -- Minion Park and Super Nintendo World -- as well as a new oceanarium.

Purpose of expanding non-gaming attractions

The resorts expanding non-gaming components was in exchange for the extension of the exclusivity period for their two casino licences until end-2030, then Minister for Trade and Industry Chan Chun Sing said in 2019, when it was first announced that the two integrated resorts will expand.

The combined S$9 billion investment is almost two-thirds the initial S$15 billion investment in 2006.

Top photo via Google Maps

Follow and listen to our podcast here