Expansion completion of Marina Bay Sands pushed to 2031

February 11, 2025

Expansion completion of Marina Bay Sands pushed to 2031

Las Vegas Sands has confirmed a delay in the completion of its Marina Bay Sands (MBS) expansion project, now expected to open in January 2031. According to the company’s dispatch to the US Securities and Commission (SEC), the revised timeline follows a second supplemental agreement with the Singapore Tourism Board (STB), signed on 8 January, which formalises the new schedule.

The expansion, first announced in April 2019, includes a fourth hotel tower with luxury suites, a rooftop attraction, premium gaming spaces, and a 15,000-seat entertainment arena. The project’s estimated total cost is $8 billion, which covers design, construction, land premiums, and financing. Construction is set to begin on 8 July 2025, with a targeted completion date of 8 July 2029. However, any further extensions will require government approval.

$850 million upfront payment in 2Q25

Marina Bay Sands Pte Ltd expects to pay $850 million to the STB in the second quarter of 2025 as part of a $1 billion upfront payment for the expansion. The remaining $150 million is due in 2026, according to Las Vegas Sands’ 2024 Annual Report.

“The Additional Land Premium is estimated to be approximately $1 billion, $850 million of which we expect will be due during the second quarter of 2025, with the remainder to be due in 2026,” the company said. This payment is in addition to the $963 million already paid in 2019 to lease land for the expansion, which extends until 21 August 2066.

Rising costs and project scope

Originally projected at $3.3 billion in 2019, the expansion’s cost has increased to $8 billion. This includes $4.7 billion for design and construction, $2 billion for land premiums, and $1.3 billion for pre-opening and financing costs.

The expanded resort will feature 570 luxury suites, a new casino with both a main gaming floor and “sky gaming” in the fourth tower, 110,000 square feet of MICE (Meetings, Incentives, Conferences, and Exhibitions) space, and a new SkyPark with high-end dining options.

Ongoing renovations at existing towers

In addition to the expansion, Marina Bay Sands has completed a $1 billion renovation of Towers 1 and 2, enhancing suites and amenities. Renovations in Tower 3, estimated at $750 million, are expected to be completed in phases by mid-2025. These upgrades aim to improve the casino floor, dining options, and overall guest experience.

Las Vegas Sands has already spent approximately $1.36 billion on the expansion, including the 2019 land lease payment. Despite the extended timeline and increased costs, the company remains committed to its long-term investment in Singapore’s integrated resort industry.