* Says zeroing on Spain for European casino project (Adds comments,
details about European plans)SINGAPORE Feb 17 (Reuters) - U.S. casino operator Las Vegas Sands is seeking more land to expand its casino complex in Singapore due to strong demand for convention and exhibition space, founder and CEO Sheldon Adelson said on Thursday.
"We are already running out of MICE ( meetings, incentives, conventions and exhibitions) space and I've told the government that we need some more land to expand," Adelson told reporters ahead of the official opening of t he Marina Bay Sands casino complex.
"The demand this property creates for MICE is rapidly bringing us to the point where we need to ration space," he said, adding that Las Vegas Sands will bid for whatever additional land the Singapore government puts up for auction.
The $5.5 billion Marina Bay Sands, which started operations in April last year, is the world's second most expensive after MGM's CityCenter in Las Vegas.
Earlier this month, Las Vegas Sands said its Singapore casino had earnings before interest, tax, depreciation and amortization (EBITDA) of $306 million in the fourth quarter, boosted by above-normal table game winnings.
The casino, which has attracted some 11 million visitors since its soft opening in April last year according to Las Vegas Sands, generated $241.6 million in EBITDA in the third quarter.
On future expansion, Adelson said he is "anxious to do something" in Asia. The firm is also keen to build casinos and other attractions in Spain.
"We are seriously looking at doing what we call a 'Strip', which is essentially a mini Las Vegas. We are looking to do that in Europe and we are sort of zeroing on Spain." ($1 = 1.281 Singapore Dollars) (Reporting by Harry Suhartono; Editing by Kevin Lim and Vinu Pilakkott)
| < Prev | Next > |
|---|
Copyright © 2024 ToCasino.net Online Casino. All Rights Reserved. Designed by