Marina Bay Sands expects to post an annual adjusted property EBITDA of US$3.5bn.
Singapore.- Las Vegas Sands (LVS) has predicted that Marina Bay Sands’ (MBS) annual earnings before interest, taxation, depreciation and amortisation (EBITDA) will rise 40 per cent to US$3.5bn after the opening of the second phase of the integrated resort (IR), dubbed MBS IR2. The expansion is to cost US$8bn and is expected to conclude by mid-2029.
MBS IR2 will include the development of the Marina Bay Sands Tower IV, with 570 rooms and additional casino space. The fourth tower will also feature a 15,000-seat entertainment arena, dedicated space for MICE tourism and new food and beverage options and nightlife attractions. The project received approval from Singapore’s authorities earlier this year.
The company is carrying out a separate, unrelated US$1.75bn suite renovation programme for the existing accommodation at MBS. The renovation is set to be completed by mid-2025. Technological upgrades, such as the installation of smart gaming tables equipped with radio frequency identification (RFID), artificial intelligence and video analytics with Angel Group are expected to be fully operational by the end of 2025.
Yesterday (November 20), Bloomberg reported that MBS is looking to secure a loan of approximately SG$12bn (US$9m), which would represent the largest financing deal in Singapore’s history. The credit would partially refinance an SG$4bn (US$3bn) facility from 2019 along with the development of the second phase of the integrated resort, which has seen projected costs rise from an original estimate of US$3.4bn in 2019 to US$8bn.
The news outlet said that DBS Bank, OCBC Bank, Malayan Banking, and UOB are involved in coordinating the deal. The arrangement, spanning seven years, is expected to be offered to additional lenders, although final terms remain under discussion.
