Marina Bay Sands opens its doors

On May 26, 2006, the Singapore government chose Las Vegas Sands Corp. to build one of only two approved integrated resorts in the Southeast Asian city-state. Marina Bay Sands will open progressively over the course of the year, with today's first phase including 963 hotel rooms, parts of the shopping mall and convention center, some restaurants and bars, the Event Plaza along Marina Bay and the casino.

On June 23, during the official grand opening celebration, the remainder of the property's 2,560 guest rooms, more shops from the world's leading retailers, additional dining options, and exciting nightlife offerings, will open. The Sands SkyPark, which sits 60 stories off the ground and is perched atop the property's three hotel towers, will also debut on June 23.

Marina Bay Sands remakes Singaporean skyline, forming the far side of a marina facing the downtown area and what the government envisions will be a must-see tourist attraction. Officials also hope the casinos will revamp Singaporean image as an efficient but sterile manufacturing and financial center that's better known for strict laws including a ban on chewing gum and caning for minor offenses. "There's no other casino this big right in the middle of a downtown," said Aaron Fischer, an analyst with CLSA in Hong Kong. "It's not comparable to anything."

The Marina Bay and Genting's Resorts World Sentosa, which opened Singapore's first casino in February, are making the island nation the gambling capital of Southeast Asia. The two casinos will generate combined income of as much as us$ 3.5 billion next year, or more than half of Las Vegas's us$ 6 billion of annual gambling revenue, Fischer said. "The appetite to gamble in Asia is huge," he said.

In Macau, a Chinese gambling enclave, the average bet at its casinos is us$ 40 while in Las Vegas it's us$ 5 to us$ 10. VIP guests, which are two-thirds of Macau's us$ 20 billion gambling market, average us$ 10,000 per bet, Fischer said. "There's enough room in Asia for five to ten Las Vegases," Sands CEO Sheldon Adelson told reporters after the opening. "Chinese culture and Asian culture aren't going to change."

The Singapore government, which forbade casinos for decades, has sought to lessen the damage of problem gambling by charging citizens and permanent residents us$ 73 per day to enter a casino. Hundreds of curious Singaporeans and tourists streamed into the hotel's main atrium after the doors opened at 3:18 p.m., eight being considered a good luck number in Chinese culture.

Marina Bay, the world's second-most expensive casino-resort behind MGM Mirage's CityCenter in Las Vegas, was initially scheduled to begin operations in December, but the opening was pushed back to February and then to April because of heavy rains and the bankruptcy of some of the project's subcontractors, according to Sands.

The project is us$ 2 billion over budget, and Sands expects to earn back its investment in five years, said Sands CEO Sheldon Adelson. Once completed, Marina Bay will feature art works worth us$ 50 million, 300 luxury retail stores and a convention center that can accommodate 45,000 delegates. "This is the future of gaming," Adelson said. "This is a new model of entertainment." He added that the Singapore casino will provide credit to selected gamblers rather than rely on junket operators as is the practice in Macau.

“This is amagnificent destination. From the specially commissioned, multi-million dollar collection of art that greets you as you enter our hotel lobby to our attentive staff taking care of your every need after you check in, Marina Bay Sands is committed to making sure the interiors and service of our property matches the brilliance of its architecture," said Marina Bay Sands President and CEO Thomas Arasi.

In October, one of the property's two state-of-the-art theatres will welcome Disney's "The Lion King." The second theatre, which will also open later this year, will be home to a variety of special events and famous headline acts. The iconic Marina Bay Sands museum, expected to open by December, will not only feature international exhibitions, but it will also serve - with its unique lotus-inspired design - as a symbolic welcome to guests from around the globe.

Las Vegas Sands also owns the Sands Macau and the Venetian Macau along with the Sands Casino Resort Bethlehem in Pennsylvania and the Venetian and the Palazzo in Las Vegas.