Completion of Marina Bay Sands Expansion Delayed to 2031

ACN Staff
Feb 10
2 min read

Updated: Apr 2

Marina Bay Sands Expansion Delay pushes completion to June 2030, with opening set for January 2031, further extending the previously revised July 2029 target.

Marina Bay Sands Expansion Delayed to 2031

The highly anticipated expansion of the Marina Bay Sands (MBS) casino complex in Singapore has been delayed once more, with Las Vegas Sands Corp. (LVS) now projecting a completion date of June 2030 and an opening in January 2031. This marks a further postponement from the previously revised target of July 2029, which LVS reaffirmed just last month.

The delay, revealed in LVS's 2024 annual report filed with the New York Stock Exchange, raises questions about the project's timeline. The company emphasized that any extension beyond the original July 2029 deadline requires approval from the Singaporean government.

This latest setback follows a series of adjustments to the project. In January, LVS's subsidiary, Marina Bay Sands Pte Ltd, and the Singapore Tourism Board agreed to amendments, including an increase in gaming area allocation for the expansion. In exchange, LVS committed to a US$1 billion payment to Singaporean authorities. A supplemental agreement in March 2023, followed by another in January 2024, outlined these changes and reaffirmed the initial July 2029 completion date.

LVS initially pledged to invest at least SGD 4.5 billion (US$3.3 billion) in the expansion back in 2019. Since then, the company has received multiple deadline extensions for the project's commencement.

The US$1 billion payment to the Singaporean government will be made in two installments. The first is expected in the second quarter of this year, with the remainder due in 2026.

As of the end of 2024, LVS has incurred approximately US$1.36 billion in expenses related to the MBS expansion, including a US$963 million upfront premium for the land lease. The company previously announced plans to invest US$8 billion in the second phase of the MBS complex, dubbed "MBS IR2." This investment includes land premiums, construction costs, and pre-opening expenses.

MBS IR2 will feature a fourth tower with over 570 rooms, expanded casino space, a 15,000-seat arena, a sky roof, retail outlets, restaurants, and meeting and exhibition space.