Singapore tourism counting on Las Vegas Sands

Oct 27, 2009 1:19 AM
The Insider by Ray Poirier |

While financial writers have been speculating on the size and timing of an initial public offering (IPO) by Las Vegas Sands Corp. (LVS), Singapore is counting on the company to open the $5.4 billion Marina Bay Sands gaming resort in the first half of 2010.

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The attraction is being built on reclaimed land across from the recently constructed Formula One Grand Prix circuit. The gaming complex will have a 161,000 square-foot casino, two theaters offering Broadway – and Bollywood style shows – a science museum, a luxury mall with tenants including world-class retailers, a convention center and a 2,500 room and suites hotel.

LVS hopes to file for an IPO in Hong Kong to raise somewhere between $1.5 billion and $2 billion. The funds will be used to complete construction of hotels and casinos on Macau’s Cotai Strip.

Question? Comment? E-mail me at: Ray Poirier