Delays Seen for Singapore Resort Developments on Covid, BT Says
(Bloomberg) -- Iconic Singapore resorts Marina Bay Sands and Resorts World Sentosa are both expected to see delays in development projects, Business Times reported, though the extent of those delays is unclear.
Minister of State for Trade and Industry Alvin Tan said both Marina Bay Sands, which is owned by Las Vegas Sands Corp., and Resorts World Sentosa had indicated potential for delays in the completion of their expansion plans due to pandemic-related disruptions in the construction industry, the paper reported, citing remarks made in Parliament on Monday.
Both resort areas had announced expansion plans in 2019, BT said, noting that they included adding a fourth tower to the Marina Bay Sands development and a 1,500-seat entertainment area. Resorts World Sentosa, which is owned by Genting Singapore Ltd., anticipated adding Minion Park and Super Nintendo World to Universal Studios Singapore, as well as adding an oceanarium, the paper said.
The Marina Bay Sands resort and casino extended the deadline for it to submit certain details of its S$4.5 billion ($3.32b) expansion plan to the end of March, BT reported in September, citing a filing to the U.S. Securities and Exchange Commission.
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