Las Vegas Sands Wants Second Casino in Singapore
Las Vegas Sands (LVS) is reportedly exploring the expansion of its footprint in Singapore, with plans to establish a second integrated resort. This development comes as the hospitality and gaming company aims to complement its existing Marina Bay Sands resort, which has become a hallmark of the Singapore skyline.
A birds-eye view of the Marina Bay Sands integrated resort in Singapore. (Source: Las Vegas Sands)
LISTEN TO THIS ARTICLE:LVS Chairman and CEO Robert Goldstein announced the new property during the Bernstein 40th Annual Strategic Decisions Conference this week. He explained that, while smaller in scale compared to its predecessor, is expected to house a casino, various entertainment options, and a range of amenities designed to attract both tourists and locals.
Related: Marina Bay Sands to Begin $3.3B Expansion in 2025Industry insiders suggest that the strategic move by LVS, which is also investing heavily in an attempt to bring casinos to Texas, is a bid to capitalize on the burgeoning tourism market in Singapore, which has seen a steady recovery post-pandemic. The new resort is poised to offer a fresh experience to visitors, potentially invigorating the local economy and cementing Singapore's status as a premier leisure destination.
The inclusion of a casino is particularly noteworthy, as it indicates a continued commitment to the gaming sector. It has been a significant revenue generator for the company, especially in Singapore and Macau.
Details regarding the design, exact location and timeline for the new integrated resort are currently under wraps. However, LVS, which operates premium resorts in Las Vegas, Macau and Singapore, has indicated that more information will be unveiled later this year, sparking anticipation among industry watchers and potential investors.
More Business News
Smart Gaming to Take Over at LVS
LVS is embracing the future of gambling with the integration of smart casino gaming tables, according to Goldstein, who has been at the helm of the company since 2021. During the same Bernstein 40th Annual Strategic Decisions Conference, he explained his vision for the future of gaming, emphasizing the pivotal role of smart technology in enhancing the gambling experience.
Smart casino gaming tables represent a significant technological advancement in the gambling sector. These tables are equipped with sensors and connected to a network that can track the movement of chips and cards in real-time, providing a wealth of data that can be used to protect the integrity of games and optimize the customer experience.
The integration of this technology allows for a more streamlined operation, reducing the chances of errors and fraud, and enabling a faster pace of play. This innovation not only enhances security and operational efficiency but also offers a more engaging and interactive experience for patrons.
The strategic move by LVS to incorporate more smart gaming tables into its casinos is a response to the evolving landscape of the gambling industry. With the rise of digital technology, the expectations of customers have shifted towards more immersive and technologically advanced experiences.
The technology is particularly suited to games like baccarat, which is immensely popular in Asia. By saving time per game and offering new betting options, smart tables can increase game turnover, potentially leading to higher gross gaming revenue without the need for increased footfall.
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