Casino company Las Vegas Sands says it'll spend $3.3 billion to expand its property in Singapore by adding an entertainment arena, new hotel tower and more convention space.
The Las Vegas-based owner of properties in the U.S. and Macau said in a statement Wednesday it signed an agreement with the Singapore government and plans to begin building adjacent to its existing Marina Bay Sands resort.
Sands President and Chief Operating Officer Rob Goldstein says the Singapore development reflects strong tourism and business potential in the city-state off southern Malaysia.
Publicly traded Las Vegas Sands is one of two companies with casino licenses in Singapore. Marina Bay Sands opened in 2010.
Plans call for the arena to seat 15,000 and for the new hotel high-rise to have about 1,000 suites.