Summary by Moomoo AI
On April 3, 2024, Las Vegas Sands Corp. announced that its subsidiary, Marina Bay Sands Pte. Ltd. (MBS), has entered into an agreement with the Singapore Tourism Board to amend their existing Development Agreement. The amendment extends the construction deadlines for the Marina Bay Sands expansion project, with the new commencement date set for July 8, 2025, and completion by July 8, 2029. Additionally, MBS has committed to submitting its application for Planning Permission by October 15, 2024. Alongside this, on April 5, 2024, Las Vegas Sands Corp. and MBS released a press statement detailing the final phase of design enhancements for the multi-billion-dollar expansion of Marina Bay Sands. The enhancements include a luxury hotel tower, a 15,000-seat entertainment arena, and additional premium MICE space. The expansion, designed by Safdie Architects, aims to drive economic growth, create jobs, and increase visitorship to Singapore. The project is separate from a US$1.75 billion reinvestment in the existing property, which has already seen refurbishments and new offerings since Marina Bay Sands' opening in 2010.