Las Vegas Sands Broke Ground on Marina Bay Sands Singapore Resort
Las Vegas Sands Corporation last week broke ground on Marina Bay Sands in Singapore. Marina Bay Sands is a $3.6 billion real estate project.
Stockpiled sand was released Jan. 31 in Singapore after Indonesia banned sand last month for exports.
Indonesia, the main sand supplier, has banned exports of the material. Las Vegas Sands said transport costs of the sand for Singapore’s first casino might rise by a third.
The first casino resort in Singapore is scheduled to open in 2009.
Las Vegas Sands was awarded the first contract in May for casino gambling in 2005. A ban on casino gambling for decades has been reversed by Singapore to increase visitors to 17 million by 2015.
Middle class and millionaires are being courted by US casino operators in Asia.
There are 56 tour operators signed up with Las Vegas Sands Corp. to shuttle tourists to the resort when it opens.
250 tenants and 15 international organizations have expressed interest on hosting conferences. Interest for events in Singapore at the resort has been received up to 2013. There will be 1.2 million square feet of meeting and convention space.The retail space, food and beverage outlet’s design and development have begun.
The resort real estate will include three entertainment venues, 2,500 luxury hotel rooms and a casino. Source: LV Review Journal
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Las Vegas Sands Corporation broke real estate on Singapore Marina Bay Sands Resort.