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January 17, 2022

Gambling will not be part of new Marina Bay Sands tower

In a surprise statement, the new Marina Bay Sands tower, being develop in Singapore, will not consist of gambling as part of their operations, according to an announcement stated by an executive with the resort casino. This release was supported by George Tanasijevich, President and Chief Executive Officer of the Marina Bay Sands Pte Ltd, a subsidiary of the Las Vegas Sands Corporation.

On April 3, the government of Singapore had granted their two casinos to develop operations by implementing higher taxes on gambling revenue. It was expected that this would raise an additional $6.65 billion by the end of 2030, which would add a significant amount of revenue in taxes to the government. Nonetheless, the new fourth tower, which is being develop at a cost of SGD4.5 billion, will not consist of gambling as part of the undertakings. It will include a 15,000 seat arena as well as 1000 luxury suites and a sky roof, but gambling operations will not be included. Instead, gambling operations might broaden in the current casinos located within the Marina Bay Sands other three towers. The current plans include a 13.3% increase in the total amount of gambling space allotted to the Marina Bay Sands, which should cater up to 17,000 square meters of space.

According to Tanasijevich, the company felt that it was more suitable to use the ongoing locations within their three towers to increase gambling, instead of adding gambling to their new tower. Sands aims to use its new tower for customer accommodations. It appears that a deal with the government of Singapore may be behind the move. According to the CEO, the development of the Marina Bay Sands was only allowed by the government if certain milestones were accomplished in terms of completion of the fourth tower. By opting to enhance their gambling in their current operations they can begin increasing the size of the gambling area as each milestone is met.

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