The casino gambling duopoly in Singapore is to continue through to 2030. The government in Singapore has approved the expansion plans of the two casinos in the country.
Both Marina Bay Sands, owned and operated by Vegas-based Las Vegas Sands and Resorts World Sentosa owned and operated by Singapore’s Genting Group have secured approval to operate in the country through to 2030 and expand their gambling facilities and offerings.
Both gambling operators have also promised to invest US$3.2 billion each as a part of the development program which has been approved by the Singapore government.
Talking of the recent development, Singapore’s Trade and Industry Minister, Chan Chun Sing commented “since the expiry of the exclusivity period for the two casino licenses in 2017, we have been in intense negotiations with the two IRs to keep their non-gaming offerings fresh while limiting the potential downsides of the gaming components.
“In exchange for the exclusivity period to be extended to end-2030, Marina Bay Sands and Resorts World Sentosa will invest around US$6.6 billion to expand and refresh their non-gaming components.”
“The expansion of the IRs is part of our ongoing efforts to rejuvenate our tourism offerings.
Earlier this year in April, it was announced that Singapore citizens and permanent residents will now have to pay SGD 150 (daily) to visit any of the two Integrated casino resorts.
Earlier the levy to enter a casino resort for one day was $100 SGD. The annual levy was also increased by 50% from SGD 2000 to SGD 3000 for the locals.