Marina Bay Sands is an integrated resort fronting Marina Bay in Singapore. Developed by Las Vegas Sands (LVS), it is billed as the world's most expensive stand-alone casino property at US$ 5.7 billion, including the cost of the prime land.
Marina Bay Sands is situated on 15.5 hectares of land with the gross floor area of 581,000 square metres. The iconic design has transformed Singapore's skyline and tourism landscape since it opened on 27 April 2010. The property has a hotel, convention and exhibition facilities, theatres, entertainment venues, retailers, and restaurants.
Marina Bay Sands was one of two winning proposals for Singapore's first integrated resorts, the other being the Resorts World Sentosa, which incorporates Universal Studios Theme Park. The two resorts aimed to meet Singapore's economic and tourism objectives, and have 30-year casino licenses, exclusively for the first ten years.
On 27 May 2006, Las Vegas Sands (LVS) was declared as the winner to develop the Marina Bay site in the prime new business district of Marina South. LVS highlighted its forte in Meetings, Incentives, Conferencing, Exhibitions (MICE). LVS's founder Sheldon Adelson is a pioneer in Las Vegas and the key to his early business success. In the Design Evaluation portion of the tender, a panel of local and international architects commended Sands' design as superior to other bids in terms of pedestrian circulation and layout, and it also fit in with the Marina Bay landscape best. They liked that the hotel towers were set back from the waterfront to open up expansive views of the city and the entire Marina Bay, making the skyline for Singapore's downtown more attractive and distinctive. Construction of the property commenced in early 2007 and was expected to be completed by 2009.
Singapore Tourism Board highlighted Sands' line-up of six celebrity chefs, such as Tetsuya Wakuda, Wolfgang Puck, Daniel Boulud and Mario Batali.
LVS submitted its winning bid on its own. Its original partner City Developments Limited (CDL), with a proposed 15% equity stake, pulled out of the partnership in the second phase of the tender process.
Source: Wikipedia
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