Las Vegas Sands On Track For March Singapore Casino Opening

Las Vegas Sands has not had the easiest of times when it came to constructing their new Singapore casino. After months of hardships, the company is now setting its sights on a March opening for the new casino.

The Marina Bay Sands was originally projected to open in 2009. Cost overruns and delays caused by the weather had backed the project up. The latest projections, coming directly from Sheldon Adelson, the chief executive and chairman of Sands, have the casino opening in March.

The price tag that Adelson was hoping to see for the entire project was $4.2 billion. The final cost will be almost two times that figure, but still Adelson insists that the casino will be worth the wait.

Adelson was speaking in an interview with CNBC where he gave a state of the company type speech. He knows that there still could be setbacks in the process, but he told CNBC that those would only cause delays of a couple of weeks, not months.

Sands has had a busy end of the year. In the last couple of months, Sands held an initial public offering in Asia. The funds raised in the IPO have helped with the cost of the Singapore and other Asian projects.

Projects on Macau's Cotai Strip was put on hold during the economic recession, but have since been started again. Adelson believes that projects will all be completed within the next three to five years.

December 21, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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