According to the president and chief operating officer of the Las Vegas Sands, Patrick Dumont, he said at this point in Singapore, the Casino group LV Sands Corp will be having “more investment” after the group had sold its Las Vegas Nevada assets. It was coming from the remarks he made on Thursday while the JP Morgan restaurant, gaming, and lodging and management of access forum were going on. It was announced by the casino group some days ago that there would be a sale of its Las Vegas gaming, finishing assets for gaming for US$6.25 billion. Consisted in the sale are the Venetian Resort LV, Convention Center, and the Sands Expo.
LV remains the originator of Macau Casino operator Sands China Ltd. and Bay of Marina Sands Pte Ltd. The executive also stressed that the company is interested in investing further in Singapore if the return profile of the market is given. He added further that “Given the transaction of LV, we look forward to investing further at this stage in Singapore”. He also made it known that we are very lucky to have agreed on a fresh development there for an expansion.”
For the expansion of Marina Bay Sands, LV will have an investment of an extra US$3.3 billion to return for an expansion- under a duopoly that has been existing of its rights to the game in Singapore. A fourth tower adjacent to its complex that has been existing will be built by the company. The plan to extend this also consists of an arena that could seat 15,000 people, including a new luxury all-suite hotel having about a thousand rooms, with a sky rooftop, and there could be room for thousands of xo slot machines around the property sporting one of the largest collections in the world.
“We are concentrating on Marina Bay Sands. We have the intention significantly investing in the existing towers for ensuring that (the property) can compete with others in the later date,” said Mr Patrick Dumont.
Reinvesting in Macau
The Chairman and CEO of LV Sands, Robert Goldstein, also stated on JP Morgan’s forum that the company was “very ready for the disbursement of capital and reinvestment” in Macau and Singapore, “where there would be higher ROI compared to Last Vegas.”
According to Mr Goldstein, he said: “I am sure the Government of Macau, being part of the process of license renewal, will reach out to us and mandate, or inquire of us for spending additional dollars, a large capital sum of money for growing and expanding our business, which would bring delight for spending as much as they wish”.