Marina Bay Sands (MBS), Singapore’s renowned casino and hotel resort, is embarking on a significant expansion of its downtown property, with plans to construct a fourth tower by 2029. After being hindered by the COVID-19 pandemic, MBS announced on Friday that full-scale construction will commence by July 2025, aiming for completion by July 2029.

The Venue Remains Integral to Singapore’s Tourism

The ambitious expansion project first revealed in 2019 with a budget of 4.5 billion Singapore dollars ($3.33 billion), faced substantial delays due to pandemic-induced shutdowns. However, with ongoing support from the Singapore government, MBS is moving forward with its visionary plans to enhance the city-state’s leisure and business tourism appeal.

Patrick Dumont, president and chief operating officer of MBS’s parent company, Las Vegas Sands, emphasized the significance of the expansion in driving high-value tourism growth to Singapore. He highlighted that the project would optimize the venue’s programming elements while aligning with Singapore’s strategic objectives. The expansion aims to play a pivotal role in attracting more travelers to Singapore.

With the ongoing support of the Singapore government, this development will further enhance the leisure and business tourism appeal of Singapore.

Patrick Dumont, Las Vegas Sands president and chief operating officer

Since its inception at a development cost of $5.6 billion, MBS has welcomed over 470 million visitors, significantly contributing to Singapore’s business tourism appeal by hosting over 1,750 MICE events. The venue aims to remain at the cutting edge, regularly introducing new improvements and keeping its offerings fresh and exciting.

Existing Amenities Will Also Receive Improvements

The planned expansion features a luxury hotel tower with an impressive sky roof and a 15,000-seat entertainment arena. Additionally, it will create space for meetings, incentives, conferences, and exhibitions (MICE) while introducing new dining, beverage, and nightlife options. Separate from the hotel expansion, MBS is investing $1.75 billion in its existing property, enhancing existing amenities.

The expansion aims to play a pivotal role in attracting more travelers to Singapore. The new entertainment arena should draw top entertainers who previously may have overlooked Southeast Asia in their tours. Additional MICE space will facilitate hosting more events in the city-state, capitalizing on Macau’s increasing focus on mainland China.

With international visitor arrivals reaching 71% of pre-pandemic levels in 2023 and tourism profits reaching up to $19.2 billion, Singapore’s hospitality sector is well on its path to a full recovery. The Singapore Tourism Board anticipates further improvement this year, driven by the gradual restoration of global air travel capacity and the increasing interest in South Asia as a leisure destination.

The post Marina Bay Sands to Build Fourth Tower by 2029 appeared first on Keno Wizard.

The approval, listed in URA data released at the end of the December 2023 quarter, allows Marina Bay Sands (MBS) to proceed with its expansion project, which significantly bolsters guest capacity, expanding the venue’s impressive hotel and retail space. The project is situated alongside MBS’s existing three towers and should help attract new customers, significantly bolstering revenues.

The Operator Met All Regulatory Requirements

The approved project encompasses the construction of a hotel with 587 rooms, covering 153,100 square meters of hotel space and an additional 12,185 square meters allocated for retail space. The new tower will occupy an empty plot adjacent to MBS’s existing three towers. MBS has not provided a firm timeline, but the project’s scale means its completion will likely extend beyond 2024.

Securing official government approval marks a crucial milestone in the integrated resort operator’s expansion plans. MBS parent firm Las Vegas Sands (LVS) president and COO Patrick Dumont noted that the company maintained close collaboration with the Singapore government, ensuring that the fourth tower project would meet all regulatory requirements.

There’s a lot of moving parts here, a lot of things we have to satisfy. We want to make sure that everyone is comfortable with it and that we get all the proper approvals.

Patrick Dumont,  Las Vegas Sands president and COO

While MBS’ initial 2019 plans envisioned a fourth hotel tower with roughly 1,000 new rooms, recent upgrades to the property’s existing hotel spaces have focused on introducing new suite products. The revamp of Towers 1 and 2 increased the number of suites from 137 to 422, giving the company more flexibility with the design of Tower 4.

Tower 4 Will Elevate the Guest Experience to New Heights

Las Vegas Sands is targeting an annualized EBITDA of over $3 billion for MBS once the construction of the fourth tower is completed. Following the release of financial results for Q4 and FY23, which showed MBS recording annual EBITDA of $1.86 billion, with a record $544 million in the December quarter, LVS chairman and CEO Robert Goldstein expressed confidence in continued profit growth.

MBS likewise hopes the planned expansion will bolster the resort’s popularity, attracting more guests. The company highlighted that the new tower will contain a “rooftop attraction” featuring a sky pool and signature restaurant, MICE facilities comprising meeting rooms, function rooms, and exhibition halls, along with a state-of-the-art live entertainment area seating a minimum of 15,000 people.

LVS sees substantial potential for profit growth in the coming years, leveraging the iconic status of Marina Bay Sands and ongoing upgrade works. The resort has become a mainstay of Singapore’s tourism sector and should continue enjoying significant success, revitalized by the addition of the upcoming tower and its industry-leading amenities.

The post Marina Bay Sands Receives Green Light for Fourth Hotel Tower appeared first on Keno Wizard.

The British Horseracing Authority (BHA) unveiled the launch of the fourth trainer and stable staff survey. The objective is to identify the yard-based issues and help the Industry People Board form a strategy for tackling them.

The survey, commissioned by the Industry People Board, is delivered in partnership with the BHA, the National Trainers Federation (NTF) and the National Association of Racing Staff (NARS). It will see trainers and stable staff contacted by Public Perspectives, an independent research organization. Public Perspectives will provide the survey to trainers and staff across Britain in the following days.

This is notably the fourth time such a survey has been launched, following surveys carried out in 2016, 2018 and 2021.

The Racing Foundation Continues to Invest in the Sector

The BHA added that the study will not only underscore the important issues but will also help the body measure the progress of major initiatives funded by the Racing Foundation. For reference, these initiatives sought to support the recruitment of stable staff, develop the skills of the workforce within the racing sector and encourage greater staff retention.

The BHA also said that the survey is in line with the Racing Foundation’s continued investment in initiatives that seek to drive improvements in the industry’s staff-related matters. Since the first survey in 2016, the foundation has invested over £12 million (approximately $15 million) to address staffing issues.

This latest study will run from November to early January.

The Study Will Help the Industry People Board Form a Strategy

Tansy Challis, the Racing Foundation’s chief executive officer, commented on the matter, saying that her team is happy to once again support the survey. She said that the 2016 survey helped the industry set a baseline from which to measure progress and identify issues.

Unfortunately, the 2021 surveys highlighted ongoing problems within the sector.

We are, therefore, encouraged by the formation of the Industry People Board and its aim to develop a People Strategy.

Tansy Challis, CEO, Racing Foundation

Challis concluded that the data from this year’s study will help the Industry People Board improve its strategy. She hopes that all trainers and stable staff will complete the survey.

Meanwhile, the Industry People Board’s chairman, Neil Hayward, said that the newly-formed body is ambitious on securing a reliable workforce and a working environment the industry can be proud of. While there is much to do, the survey will help his team to make informed decisions and evaluate the impact of current and future initiatives.

We appreciate the time and effort taken by those who respond to the survey. The better the response rate the more detailed a picture we have about what is happening to, and what matters to, the industry’s workforce.

Neil Hayward, chair, Industry People Board

In September, British horseracing authorities launched a probe into the public’s feelings about the controversial affordability checks.

The post UK Horseracing Authorities Launch Fourth Trainer and Stable Staff Survey appeared first on Keno Wizard.