Las Vegas Sands Corp.
Marina Bay Sands Enters into Second Supplemental Agreement with Singapore Government
Summary
On January 8, 2025, Marina Bay Sands Pte. Ltd., an indirect subsidiary of Las Vegas Sands Corp., entered into a Second Supplemental Agreement with the Singapore government to modify their original Development Agreement from April 3, 2019. The new agreement involves the allocation of floor area for various uses such as hotel, gaming, and retail, and the purchase of additional gaming area. Marina Bay Sands committed to cover the cost of the land premium for the additional gaming area and other adjustments, with an anticipated payment of approximately $1 billion. The modifications include specific dates for the commencement and completion of the MBS Expansion Project, set for July 8, 2025, and July 8, 2029, respectively.
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About Las Vegas Sands Corp.
Las Vegas Sands Corp. is a leading developer and operator of world-renowned integrated resorts. The company's primary function is to create and manage properties that combine upscale hotels, state-of-the-art convention and exhibition facilities, and top-tier entertainment options. These resorts particularly cater to the corporate hospitality sector, offering expansive meeting and conference spaces that attract international business tourism. Las Vegas Sands Corp. has a significant presence in the Asia-Pacific and United States regions, owning landmark properties such as The Venetian and The Palazzo on the Las Vegas Strip and Marina Bay Sands in Singapore. The company's focus on luxury and comprehensive hospitality services underscores its impact on the travel and leisure industry. With a commitment to sustainability and innovation, Las Vegas Sands Corp. plays a vital role in shaping the future of global tourism and hospitality, contributing substantially to the economic development of the regions where it operates.
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