The casino licence of the Marina Bay Sands resort (pictured) in Singapore is to be renewed for a further three years starting from April 26.
That is according to a Friday statement from the city-state’s Gambling Regulatory Authority (GRA).
“This is after assessing that Marina Bay Sands has fulfilled the requirements set out in Section 45 of the Casino Control Act,” said the regulator in a Friday statement.
Section 45 of the law includes a requirement that “the applicant is a suitable person to develop, maintain and promote the integrated resort – of which the casino is a part – as a compelling tourist destination which meets prevailing market demand and industry standards and contributes to the tourism industry in Singapore”.
Marina Bay Sands is run by a unit of United States-based Las Vegas Sands Corp.
The resort’s management recently said the property had passed its 500-million visitor mark since its 2010 launch.
In November, the GRA renewed the casino licence of Resorts World Sentosa – Marina Bay Sands’ market rival – for a period of two years relative to the permitted maximum of three under the Casino Control Act.
At the time, the regulator said Resorts World Sentosa’s “tourism performance for the period of evaluation from 1 January 2021 to 31 December 2023 was unsatisfactory, with a number of areas that require rectification and substantial improvement.”
Both casino complexes under Singapore’s duopoly have pledged to upgrade and expand their facilities.
Las Vegas Sands said in October last year that it planned to invest US$8.0 billion in developing the second phase of the Marina Bay Sands complex.
In January, Las Vegas Sands announced an agreement between Marina Bay Sands Pte Ltd and the Singapore Tourism Board, allowing the firm to increase the overall gaming area allocation for the expansion project, among other amendments. In return, Las Vegas Sands agreed to pay an additional US$1 billion to the Singaporean authorities.
Genting Singapore has pledged to invest SGD6.80 billion (US$5.15 billion) to upgrade and expand Resorts World Sentosa, via a project known as ‘RWS 2.0’.
In mid-November Genting Singapore broke ground for a new waterfront development at the complex. The firm expects that expansion to be completed in 2030.
Resorts World Sentosa is set to launch The Laurus hotel in the third quarter of this year, as part of The Luxury Collection Hotels & Resorts stable. A revamped retail area at the complex, dubbed “WEAVE”, is scheduled to debut “in the second half of 2025”, while the Singapore Oceanarium is set to open in the third quarter of 2025.
