Marina Bay Sands plans to gather $7.4 b in bank loans to expand hotel, entertainment business

According to reports, Marina Bay Sands, a sizable integrated resort in Singapore owned by Las Vegas Sands, is launching an aggressive plan to retrieve SGD 10 billion (or USD 7.4 billion) in bank debts.

This substantial financial commitment is meant to support the resort’s expansion goals, particularly in the hospitality and entertainment sectors. The financing strategy, according to sources close to Las Vegas Sands, would include a combination of steps including rolling over a deferred drawdown facility, refinancing existing loans, and issuing new debt.

Should the financing deal go as expected, this might be Singapore’s largest syndicated loan ever funded using local currency. The cost of Marina Bay Sands’ expansion plan may surpass the initial estimate of SGD 4.5 billion (USD 3.3 billion), according to a filing made by Las Vegas Sands in October. The revised estimate accounts for increasing labor costs, rising material prices, and inflation.

The expansion project includes plans for a 15,000-seat arena, a 1,000-room and suite hotel tower, cutting-edge MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, and a rooftop swimming pool. This calculated strategy fits in with the broader trend of integrated resorts making adjustments to meet the evolving demands of the entertainment and hospitality sectors.

The next tower extension at Marina Bay Sands is anticipated to start construction within “six months to one year,” according to Patrick Dumont, President and Chief Operating Officer, during the most recent Las Vegas Sands conference call. This is contingent upon regulatory permissions and other pertinent considerations. As financing plans fall through and construction moves forward, Marina Bay Sands is poised to solidify its position as a leading attraction in Singapore’s thriving entertainment industry.

Original story by: Asia Gaming Brief