Las Vegas Sands management said Thursday they expect to achieve their annual EBITDA target of US$2 billion for Singapore integrated resort Marina Bay Sands (MBS) sooner rather than later, aided by an ongoing Renovation and Refurbishment Program that will see the property’s suite inventory increase from 200 to 770.
With a US$1 billion Renovation and Refurbishment Program of two MBS hotel towers nearing completion, the company revealed during its 3Q23 results announcement overnight that it would invest a further US$750 million on Tower 3, to be completed in stages through 2025.
The first phase, LVS added, has seen 1,300 hotel rooms refurbished including the expansion of its suite product from 200 to 390 while the Tower 3 investment will take that tally to 1,850 redesigned rooms including 770 suites.
