Sands Singapore resort on track for December open

Sands Singapore resort on track for December open

Las Vegas Sands Corp., which suspended construction last year at two sites in Macau, said Wednesday it's on schedule to open a $5.4 billion Singapore casino resort in December.

The casino operator said most of the 2,500-room Marina Bay Sands will be ready by the end of the year. It will be Singapore's first casino.

In addition to gambling facilities, the resort will feature an art and science museum, 300 retail stores, and three 55-story hotel towers connected at the top with a pool, restaurant and observation deck.

Last Vegas Sands is counting on the Marina Bay Sands to help boost its overall revenue and avoid a debt default. Sands, which owns the Palazzo and Venetian resorts in Las Vegas, had to shut down building in Macau after financing dried up.

"What happened in Macau certainly won't happen here in Singapore," said Bradley Stone, the company's president of global operations and construction. "This project is fully-funded."

The resort is part of Singapore's effort to develop a marina area next to downtown into an entertainment and tourist attraction. But the city-state expects tourism revenue to plunge as much as 19 percent this year as a global economic slowdown undermines spending on travel.

"We know the economic situation," said Nigel Roberts, president of Marina Bay Sands. "But we have a product that's going to be stupendous and will override that."

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