Singapore casino resort Marina Bay Sands (MBS) is reportedly seeking a loan facility totaling about US$9bn over seven years to help fund expansion and refinance existing debt.
If discussions with banks come to fruition, Bloomberg reported it would smash the previous record Singapore loan of US$6.9bn from 2012 when Thai billionaire Charoen Sirivadhanabhakdi acquired Fraser & Neave Ltd.
MBS’s parent company Las Vegas Sands estimated the work will cost about US$8bn
Among the planned renovations are the building of a fourth hotel tower that will have a gaming floor, a 15,000-seat arena, 570 new luxury suites, and a SkyPark. MBS’s parent company Las Vegas Sands estimated the work will cost about US$8bn, including US$4.7bn in design and building costs and US$2bn of land premiums.
Expansion work will begin by June 2025, and Las Vegas Sands hopes everything will be ready to open by January 2031.
MBS is one of two mega casino resorts in Singapore, with its rival, Resorts World Sentosa, struggling recently to meet regulatory expectations. The country’s Gambling Regulatory Authority granted a two-year license extension this week as opposed to the typical three-year term due to the property’s “unsatisfactory” tourism performance.