Singapore Grants Marina Bay Sands Three-Year Casino License Renewal

The Gambling Regulatory Authority (GRA) of Singapore has awarded Marina Bay Sands (MBS) an extension on its casino operations until 2028. It approved a three-year license renewal effective April 26^th, 2025.

The decision follows rigorous compliance verification under Section 45 of the Casino Control Act 2006, where MBS demonstrated full adherence to operational protocols and governance frameworks. The authority’s comprehensive review process assessed financial controls, anti-money laundering measures, and social safeguards, all of which met Singapore’s exacting standards for responsible gaming.

A Tourism Powerhouse

Marina Bay Sands, operated by Las Vegas Sands Corp., remains a cornerstone of Singapore’s tourism and entertainment ecosystem. The integrated resort features multiple gaming facilities alongside luxury accommodations, convention spaces, retail zones, and leisure offerings—a diversified infrastructure supporting its dual role as an economic driver and premium tourist destination.

The license renewal reaffirms Marina Bay Sands’ status as a compliant operator within the city-state’s tightly regulated gambling landscape. This ensures continuity for Southeast Asia’s premier gaming destination through its next development phase.

Strategic Expansion Amid Financial Recalibrations

The license renewal aligns with Las Vegas Sands’ US$1 billion expansion plan for Marina Bay Sands. The development is a joint effort with the Singapore Tourism Board, targeting construction commencement on July 8^th, 2025.

This capital injection follows the operator’s 2024 fiscal results, showing US$11.3 billion in revenue alongside Q4 dips. The IR’s net revenue dropped 0.7% to US$2.9 billion, and net income fell 16% to US$392 million. Adjusted property EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) declined 7.5% to US$1.11 billion as capital expenditures reached US$547 million, including US$194 million allocated to MBS infrastructure upgrades. Despite economic pressures, the simultaneous license extension and reinvestment signal confidence in its significance in the gaming market.

Record Refinancing Powers

Last month, Marina Bay Sands locked in a historic US$9 billion multi-tranche financing package, eclipsing the previous benchmark set by Fraser & Neave’s acquisition in 2012. Coordinated by Singapore’s DBS Group Holdings Ltd, United Overseas Bank Ltd, Malayan Banking Bhd, and Oversea-Chinese Banking Corp., the syndicated facility drew participation from 22 lenders.

This reflects strong institutional confidence in MBS’s revenue-generating capacity. Proceeds will refinance existing debt and fund the resort’s expansion until 2028. The leveraged positioning also enables Las Vegas Sands to optimize capital structure while doubling down on Singapore’s gaming market, where MBS commands a 61% market share.