SINGAPORE: A S$9 billion dollar expansion by Singapore’s two integrated resorts will see Marina Bay Sands (MBS) add a new entertainment arena and hotel tower, while Resorts World Sentosa (RWS) will extend Universal Studio Singapore to include two new immersive environments - Minion Park and Super Nintendo World.
This additional investment by the integrated resorts is almost two-thirds their initial investment in 2006, which was about S$15 billion.
Advertisement“Since the expiry of the exclusivity period for the two casino licences in 2017, we have been in intense negotiations with the two IRs to keep their non-gaming offerings fresh while limiting the potential downsides of the gaming components,” said Singapore’s Trade and Industry Minister Chan Chun Sing.
“In exchange for the exclusivity period to be extended to end-2030, Marina Bay Sands and Resorts World Sentosa will invest around $9 billion to expand and refresh their non-gaming components.”
The expansions will create up to 5,000 jobs directly, said the Ministry of Trade and Industry on Wednesday (Apr 3) in a joint press release with the Ministry of Finance, Ministry of Home Affairs and Ministry of Social and Family Development.
“The expansion of the IRs is part of our ongoing efforts to rejuvenate our tourism offerings,” said Mr Chan. “We have done reasonably well in the recent past with the development of the Mandai project and plans for the rejuvenation of Orchard Road and the Greater Southern Waterfront.”
AdvertisementAdvertisementAs part of the expansion of its non-gaming facilities, MBS will construct a 15,000-seat state-of-the-art entertainment arena.
MBS will also build a fourth tower which will feature approximately 1,000 all-suite rooms and also include a sky roof with swimming pool as well as a signature restaurant.
The new project will be located immediately adjacent to MBS. A timeline for the completion of the resort's expansion is not yet available.
RWS’ plans will see two new immersive environments - Minion Park and Super Nintendo World - added to Universal Studios Singapore.
It will create a new Singapore Oceanarium by enlarging its S.E.A. aquarium and taking over the adjacent Maritime Experiential Museum.
There will also be 1,100 rooms added to RWS, with the expansion of its central zone as well as the construction of two new destination hotels. There will also be a driverless transport system across the Sentosa Boardwalk.
RWS’ expansion will take place in phases, with new experiences opening every year from 2020. The projected completion of the new project will be in 2025.
“Our experience with the IRs over the last nine years has been a valuable one,” said Mr Chan.
“We believe that the new offerings by MBS and RWS will not only bring about opportunities for our businesses and workers but also provide Singaporeans with more interesting options to live and play.”
It was also announced on Wednesday that Singaporeans and Singapore permanent residents will have to pay 50 per cent more to enter the casinos at the two integrated resorts from Thursday, as part of the Government's efforts to keep problem gambling under control.
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