Las Vegas Sands Corp announces plans to unveil refurbished rooms of MBS Tower 3

By the Chinese New Year of 2025, the American casino developer Las Vegas Sands Corp. intends to reopen the restored Tower 3 rooms of its Marina Bay Sands casino complex in Singapore to guests.

The business is spending an extra US$750 million to renovate Tower 3, the hotel lobby, and the rooftop Sands SkyPark, on top of the already announced US$1 billion for Towers 1 and 2.

The business plans to add a fourth hotel tower and extend its property portfolio by at least SGD4.5 billion (US$3.3 billion) in addition to renovating Tower 3 at Marina Bay Sands.

When the second phase of renovations is completed, Tower 3 will have 550 rooms, including 380 suites, according to Las Vegas Sands’ fourth-quarter results presentation. Chinese New Year 2025 is when Tower 3 is expected to open.

During a conference call with investment analysts, Patrick Dumont, president and chief operating officer of Las Vegas Sands, stated that most renovations will be completed by mid-2025, resulting in the construction of a brand-new building, while some amenities will be completed gradually over the course of the year.

According to Dumont, investment in Marina Bay Sands is projected to provide substantial returns since the property’s earnings before interest, taxes, depreciation, and amortization (EBITDA) should continue to rise. He said that Tower 3 was a very smart purchase.

Prior to the makeover, Marina Bay Sands had around 2,560 rooms and suites; after repairs, there will be 1,850 restored rooms, including 770 suites.

Robert Goldstein, the CEO and chairman of Las Vegas Sands, highlighted the importance of mass-market travel to the market’s potential growth in Singapore. He predicted that EBITDA would increase dramatically from US$2 billion to US$3 billion over the next three to four years.

Original story by: GGRAsia