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Las Vegas Sands In Talks To Develop A New Resort In Asia

A major country in Asia might soon get an integrated resort (IR), according to Rob Goldstein, Chairman and CEO of Las Vegas Sands. Goldstein revealed that the company was in talks with the yet to be revealed country for the project, state news reports. If the plans for the resort move ahead, then it would be on a similar scale to the company’s Singapore’s IR called Marina Sands Bay.

“I don’t want to say where, but we’ve had some rather interesting conversations with a major country there that has reached out to us,” said Goldstein. “It’s proprietary, but we’re looking to build something of scale much like Marina Bay Sands. A lot of countries in Asia have reached out to us over the years, but nothing’s happened. This one feels like it might be a major prospect. A major country, a top-tier country. I hope it’s real,” he continued.

Following the recent $6.25 billion sale of the company’s Las Vegas assets, Goldstein has hinted that the company was looking to pursue new developments in the United States and Asia. Previously, the company had their eyes on Thailand as a new prospect. They had also applied for an IR license in Yokohama, Japan but withdrew the bid in 2020. Wynn Resorts, a fellow Las Vegas-based operator recently announced plans to develop an IR in the United Arab Emirates.

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While Goldstein has confirmed that their plans for an IR in Japan is no longer on the table, he said that wherever Las Vegas Sands ends up, it will implement the IR model that has served well for them in Las Vegas, Singapore, and Macau.

Goldstein said, “It depends on the jurisdiction, but obviously our preferred approach is an IR model with a multitude of offerings for customers ranging from casino, hotel, spa, convention, retail, restaurants and business centers.”

He also further stated that the IR model works well for them and will be using that model in future developments. The company is also in talks with three states in the US and a few more places in Asia.

“We’re building a new one hopefully starting next year, our second Marina Bay Sands in Singapore, a fully integrated Phase 2 of our Phase 1. We don’t plan to stray from the IR model unless the jurisdiction doesn’t want an IR. That’s how we see ourselves, as large-scale IR developers. That’s our bread and butter,” said Goldstein.

He also confirmed that Las Vegas Sands will continue to call Las Vegas it’s corporate home and 400 of its staff will be moving to a new office in the next 12 months.  “We interface with Asia every day, and we have all the usual things you have with casino and hotel operations. In that sense, our corporate group remains pretty much intact,” he said.

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