The integrated resort casino announced that the new tower to be added to the Marina Bay Sands will not offer gambling operations at the venue.
In a statement to the press, President and Chief Executive Officer of the Marina Bay Sands Pte Ltd, George Tanasijevich, surprised by saying that the Las Vegas Sands subsidiary will not offer gambling at the Marina Bay Sands Tower in Singapore.
Earlier this month, the Singapore government had made significant announcements including increasing the levy for the locals visiting casinos. The levy amount was increased by 50% from SGD 100 to SGD 150 for a single visit and SGD 3000 for annual pass which was SGD 2000 earlier.
It was also announced that the two casino resorts in the country could expand operations as the government planned to benefit from increased gambling and casino revenues. An estimate of $6.65 billion to be raised in the next ten years was also presented.
However, according to the recent executive statement, it is clear that the new tower will not include any gambling operations. The fourth Marina Bay Sands tower is developed at the cost of SGD4.5 billion.
The move to not include gambling at the fourth tower is strategic. It is expected that with this move the other venues can have more customers. The SGD4.5 billion development plan includes expanding the venue space by 13.3% which translates to 17,000 square meters of space.
The company also said that they are considering increasing gambling operations at existing towers and setting aside the new tower for hosting customers and providing luxury accommodation facilities.
At present, there are 2600 hotel rooms at the Marina Bay Sands Singapore, and the luxury resort remains nearly full with a consistent occupancy rate of 94 percent to 99 percent.
While it is not yet clear as to when the new tower would be complete, the plan also involves remodeling 63 existing suites which are expected to be finished by the end of the year.