Las Vegas Sands makes huge Singapore bid

Las Vegas Sands has formally submitted its proposal to
the Singapore Government to build an integrated resort at Marina Bay in
Singapore.Demonstrating its long-term commitment to Singapore’s tourism
future, LVS is proposing to invest US$3.6 billion to develop The Marina Bay
Sands, making it possibly the most expensive integrated resort ever
proposed.  LVS is also committed to opening 100 percent of the Gross Floor
Area of The Marina Bay Sands in 2009.  Its proposal includes plans for
2,500 hotel rooms, 1.2 million square feet of flexible meetings, incentive,
convention and exhibition (MICE) space, one million square feet of retail
space, three large entertainment venues and a Paiza Club, LVS’ successful
premium player venue.

In addition to its strong Asian track record and long-term commitment to
Singapore, as well as its role as the integrated resort industry’s MICE
leader, the company said its proposal includes features that will drive
non-gaming and MICE tourism and attract repeat visits: the region’s first
museum that boasts the best in international cultural and populist exhibits;
extensive entertainment programming spanning Broadway, Bollywood, music,
sports, fashion and an array of entertainment from Southeast and North Asia; a
high-end retail mall featuring sophisticated product offerings; world-class
spa and fitness facilities; and fine dining restaurants offering gourmet
cuisines from award winning chefs.
  “Las Vegas Sands Corp. is excited and ready to join Singapore on a
historic journey.  As a catalyst for the economic future of Singapore and a
launch pad for its tourism industry, The Marina Bay Sands will help Singapore
solidify its standing among the world’s greatest destinations,” said Sheldon
G. Adelson, chairman and chief executive officer of Las Vegas Sands Corp.
“With our extensive experience and business capabilities in developing and
managing world-class integrated resorts in the US and Asia, and our in-depth
understanding of the Singapore market and Asian operating environments, we are
uniquely qualified to develop a destination that will unequivocally meet the
economic priorities of Singapore in a way that will also be strongly aligned
to the needs of the local business community and Singaporeans themselves.”
  LVS is able to provide unparalleled management expertise, resources,
network, and a global book of business in the MICE industry to reenergize
Singapore’s dominance as a regional and international hub for meeting and
convention planners.
  “As the only US gaming and integrated resort company currently operating
in Asia, we plan to use our five years of operating experience in the region
to the benefit of Singapore when The Marina Bay Sands opens in 2009.  With an
extensive existing footprint in China—one of Asia’s primary vehicles for
economic growth and largest source of tourism growth for the foreseeable
future—LVS will be able to attract tourists to Singapore by leveraging our
extensive global customer base and strong relationships with international
travel agents and reputable junket operators,” said William Weidner, president
and chief operating officer of Las Vegas Sands Corp.