Las Vegas Sands breaks ground on $8 billion expansion of Marina Bay Sands in Singapore

Las Vegas Sands has officially begun construction on an $8 billion expansion of its flagship Marina Bay Sands resort in Singapore, a project expected to redefine the city-state’s skyline and strengthen the country's status as a global tourism hub.

The ambitious development, referred to for now as IR2, will rise adjacent to the existing Marina Bay Sands complex and is slated to open in 2031, pending regulatory approval. The expansion includes a 55-story hotel tower offering 570 luxury suites, an expansive premium casino floor, and a 15,000-seat arena designed to host international concerts and large-scale events. 

The project will also feature a multilevel rooftop space with pools and an observation deck soaring 245 meters above ground.

Singapore Prime Minister Lawrence Wong led Tuesday’s groundbreaking ceremony, noting how the integrated resort has become part of the nation’s identity. “We are very proud of what Marina Bay has become, but we are not done yet,” Wong said. He noted that the original decision to introduce integrated resorts two decades ago had largely transformed Singapore’s tourism sector.

Las Vegas Sands Chairman and CEO Robert Goldstein highlighted the company's continued faith in Singapore and the region. “We’re here to take Singapore to yet another level of luxury tourism in Asia and be the leader for years to come,” Goldstein said. 

He added that Singapore’s model of integrating luxury hotels, casinos, and world-class entertainment had set the benchmark across Asia, inspiring other regional economies to explore similar paths.

The Marina Bay Sands expansion was first announced in 2019 but faced delays due to the COVID-19 pandemic. It forms part of a push by Singapore to secure its foothold in the competitive global tourism and meetings market, with both Marina Bay Sands and Resorts World Sentosa, operated by Genting Singapore, committing to reinvestments in their facilities.

Patrick Dumont, President and Chief Operating Officer of Las Vegas Sands, said that once completed, the company’s cumulative investment in Singapore would exceed $15 billion. “This speaks volumes of our confidence in this region, and the potential that we continue to see in Singapore,” Dumont said.

The new complex is designed to appeal to traditional high rollers as well as the increasingly lucrative premium mass-market segment, which values luxury lodging, fine dining, and high-end entertainment alongside gaming. Analysts view this diversification as essential to sustaining growth.

Marina Bay Sands is currently Las Vegas Sands’ top-performing asset, generating $4.22 billion in revenue last year, which accounted for roughly 37% of the group’s global earnings. Approximately 70% of that revenue came from casino operations. 

The two resorts have helped Singapore nearly double its international visitors from 9.7 million in 2009 to 19.1 million in 2019, despite initial controversy over legalizing casinos.

As new projects advance in places like Osaka and Macao, and with Thailand pausing its casino legalization plans for further study, industry experts say Singapore’s reinvestment strategy is critical. 

“Reinvestment and renewal are critical drivers in this industry, because standing still is a guaranteed path to irrelevance and failure,” said Daniel Cheng, a consultant and former senior executive at Hard Rock International and Genting. He stressed that the competitive stakes are even higher for a market leader like Marina Bay Sands.