Singapore's second casino resort to open in late April

Feb 24, 2010, 3:54 GMT

Singapore - Singapore's second multi-billion-dollar casino resort, the Marina Bay Sands, is set to open its first phase on April 27, followed by a second phase in June, the US-based developer said Wednesday.

The opening, which had been delayed twice, was 'subject to construction proceeding as scheduled and being able to attain the necessary regulatory approvals,' said parent company Las Vegas Sands Corp in a statement.

The announcement came just 10 days after rival Genting Group of Malaysia opened its casino at Resorts World on Singapore's Sentosa island on February 14, the auspicious first day of the Chinese New Year.

Marina Bay Sands, three 55-storey towers located close to the financial district, was the first casino to be approved by the Singapore government after it lifted a 40-year-ban on gambling in 2005 to generate a new source of revenue.

The opening had originally been scheduled for the end of 2009, ahead of its competitor Resorts World Sentosa.

However, the construction of the 5.5-billion-US-dollar project including a convention complex offering 2,500 hotel rooms, had been hindered by lack of materials, a labour shortage and other problems.

The first phase of the opening would include the casino, 963 hotel rooms, parts of the shopping mall and convention centre and several restaurants, said the statement.

The second phase, including a Sky Park on top of the buildings, would open on June 23, it added.

'Despite the challenging and at times unprecedented economic conditions companies like ours recently faced, our dedication to completing this development never wavered, not for a second,' said Las Vegas Sands chairman Sheldon Adelson.

Adelson earlier estimated that the resort at Marina Bay could earn 1 billion US dollars a year and could return its investment in five years.

For Resorts World Sentosa, Genting chairman Lim Kok Thay said that he expected 13 million visitors in its first year of operation.

Singapore's government and both casino developers hope to tap into Asia's growing economies, bringing in wealthy clients from places up to seven hours away by plane.

In 2008, Singapore attracted 10.1 million tourists spending 14.8 billion Singapore dollars (10.4 billion US dollars).

Relying on the two casinos, Singapore aims to raise the numbers to 17 million visitors spending 30 billion Singapore dollars in 2015.

The government's decision to allow gambling spurred a rare public debate in tightly controlled Singapore, as some citizens feared that it might bring organized crime, money laundering and social problems.