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Las Vegas Sands to spend $8 bln to expand MBS resort in Singapore
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Las Vegas Sands to spend $8 bln to expand MBS resort in Singapore
Nov 3, 2024 11:18 AM

SINGAPORE, Oct 25 (Reuters) - Casino operator Las Vegas

Sands ( LVS ) plans to invest $8 billion in Singapore to expand

its Marina Bay Sands resort, a major bet by the Nevada-based

firm on the city-state's tourism market.

The project, dubbed IR2, is to build a fourth hotel tower

that will include 570 luxury suites, gaming areas, a 15,000-seat

arena, rooftop pools, food and beverage offerings and 110,000

square feet of space for exhibitions and conferences, the

company said during its earnings presentation earlier this week.

"When IR2 is open ... that arena is going to be an

incredibly powerful tourism driver for the overall complex," LVS

Chief Operating Officer, Patrick Dumont told analysts.

"It's going to be a very important globally significant

asset for tourism."

The company missed analysts' expectations for quarterly profit

this week due to renovation at its Londoner casino in Macau and

lower-than-expected per-table income in Singapore.

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