Las Vegas Sands (NYSE: LVS) has reportedly secured a $9 billion loan to finance a major expansion of Marina Bay Sands (MBS) in Singapore, marking one of the largest corporate credit deals ever completed in the city-state.
Market chatter dating back to November suggested a Sands-led banking consortium was marketing the multitranche facility to additional lenders. According to Bloomberg’s Chien Mi Wong, citing sources familiar with the matter, DBS Group Holdings, Malayan Banking, Oversea-Chinese Banking Corp., and United Overseas Bank acted as coordinating banks. The syndication ultimately drew participation from 22 additional lenders.
As of late Monday, neither Marina Bay Sands nor its Las Vegas–based parent company had publicly confirmed the financing. The $9 billion facility exceeds the estimated $8 billion Sands plans to invest in upgrading the Singapore integrated resort. That figure is more than double the $3.4 billion the company originally outlined when the project was announced in 2019.
Singapore Investment Seen as Long-Term Value Driver
Although spending has climbed well above initial projections, the expansion—highlighted by the addition of a fourth hotel tower—is expected to generate meaningful long-term returns.
Marina Bay Sands remains one of the world’s most valuable gaming brands and operates within a tightly protected duopoly as one of only two casino resorts in Singapore. The property also continues to deliver strong financial performance, reinforcing its position among the most profitable casinos globally.
“The results of Marina Bay Sands reflect the positive impact of our capital investment program and the growth of high-value tourism,” CEO Robert Goldstein told analysts during a January conference call. He added that Singapore’s expanding entertainment and lifestyle calendar continues to enhance its appeal as a global destination, creating “considerable runway for growth” as remaining investments are completed.
President and CFO Patrick Dumont echoed that view, describing Singapore as an “incredibly strong and desirable” market that attracts higher-quality tourists.
Revised Timeline for MBS Expansion
Sands had initially targeted a July 2029 completion date for the Singapore expansion. That schedule has since shifted, with construction now expected to wrap up by June 2030 and an opening planned for January 2031.
The project includes additional hotel rooms, expanded convention and meeting facilities, new retail offerings, a 15,000-seat entertainment arena, and increased gaming space. Changes to the casino footprint required Sands to amend its agreement with the Singapore Tourism Board, contributing to the revised timeline.
Currently, Marina Bay Sands is Sands’ only casino resort outside Macau. However, the operator has also signaled interest in potential opportunities in Thailand and is actively pursuing a gaming license in New York.
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