Marina Bay Sands developer optimistic about project

MARINA Bay Sands is expected to be profitable from day one and the expected payback timeframe is between five and eight years.

“Overall, we remain extremely optimistic about the prospects for Marina Bay Sands and the future of the tourism industry in Singapore with China, India, Indonesia, Malaysia and Thailand serving as key source countries for both the business and leisure tourist market,” Marina Bay Sands Pte Ltd general manager George Tanasijevich said.

“We are targeting the premium and high net worth segment, along with mass affluent leisure and business travellers.”

He said Singapore had proven to be resilient in challenging times.

According to him, there is massive potential for integrated resorts in this part of the world, especially with demand from the booming markets of China and India.

“Multinational corporations seeking to hold corporate events or participate in exhibitions gravitate towards such strong markets where they anticipate demand.

“Therefore, our MICE-driven business model serves to mitigate the effects of a challenging economic climate.”

The company’s optimism is also driven by factors like the strong appeal of the integrated resort format that the Marina Bay Sands offers, its network of properties in Las Vegas and Macau, and the extensive network of travel operators worlwide.

These strengths would enable Marina Bay Sands to attract many different and diverse customer segments, and strategically target its marketing efforts.

“With our parent company Las Vegas Sands Corp’s unsurpassed track record in building world-class integrated resorts, Asian operating experience and MICE expertise, we are confident that Marina Bay Sands will be a destination filled with buzz, excitement, and something for everyone,” Tanasijevich said.

Las Vegas Sands has been awarded a 30-year concession to develop and operate the IR on Marina Bay by the Singapore government.

The Las Vegas, Nevada-based company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Center in Las Vegas and The Sands Macao in the People’s Republic of China (PRC) Special Administrative Region of Macao.

The company’s two additional integrated resorts - The Palazzo Resort Hotel Casino in Las Vegas and The Venetian Macao Resort Hotel Casino in Macao, opened last year.

By The Star