The two Singapore integrated resort projects are shaping up to be the world’s most expensive casino resort developments. But when completed, can they be profitable?
The two resort projects are Resorts World at Sentosa, which is a development of Genting International, and Marina Bay Sands, from troubled Las Vegas Sands. Both projects feature large casinos and high-end hotels, plus a package of family-oriented, non-gaming amenities that can include shopping malls, theme parks, museums and convention space.
Marina Bay Sands was supposed to cost $3.85 billion, but LVS now estimates the final cost to be about $4.5 billion. Resorts World was to come in at $3 billion but will now cost $4 billion, according to Genting.
However, Asian Times reports, some analysts say the revised numbers are too low and that the resorts could end up costing $6 billion each to complete as planned. If so, the properties would require $1 billion in EBITDA each year, according to the Times.
