Singapore's Bid Goes to Las Vegas Sands
By Margo McCall -- Tradeshow Week, 6/12/2006
Las Vegas Sands didn't have government ties or even a partner, but it still ran away with the winning bid to develop Singapore's first casino resort.
What the Las Vegas-based casino company did have was plans for one of the most expensive resorts ever built, and a proposal that calls for more meeting and exhibition space than any of the city-state's existing venues.
Singapore is already the second-most popular destination for international meetings, according to the Intl. Congress & Convention Assn. But even so, the amount of exhibit space offered by its three existing venues can't quite measure up to the scale of Las Vegas Sands' proposed Marina Bay resort.
Singapore Expo features 60,000 square meters (645,835 square feet) of exhibit space. Suntec Singapore Intl. Convention & Exhibition Center has 12,000 sq. m. (129,167 sq. ft.) of space, and Singapore Indoor Stadium nearly 3,000 sq. m. (32,292 sq. ft.)
By comparison, Las Vegas Sands plans 111,484 sq. m. (1.2 million sq. ft.) of convention and meeting space, in addition to 92,903 sq. m. (1 million sq. ft.) of retail, 2,500 hotel rooms, three entertainment venues, a premium player casino and the area's first museum. The $3.6 billion project calls for a 2009 opening.
During the selection process, LVS emphasized its expertise in Asia as well as "a global book of business in the MICE (meetings, incentives, conventions and exhibitions) industry" as advantages that would help reinvigorate Singapore as an international hub for meetings and conventions.
The company has operated the Sands Macau since May 2004 and is building the Venetian Macau Casino Resort, which will provide 111,484 sq. m. of exhibit space when it opens in late 2007.
In Las Vegas, LVS also operates the Sands Expo & Convention Center and the adjacent Venetian Resort Hotel Casino, which together offer more than 1.1 million sq. ft. of exhibit space.
After the LVS bid was selected, COO William Weider said in a statement that the company's relationships in the MICE area will assure "a steady and predictable flow of visitors to Singapore."
A dozen international hotel development companies were initially invited to submit proposals to build two planned casinos in Singapore. Among them was LVS rival Wynn Resorts, which last year opened the upscale Wynn Las Vegas, and is constructing a 16-acre casino resort set to open late this year in Macau.
Singapore eventually selected four finalists. MGM Mirage teamed up with CapitaLand on a Singapore proposal that included a permanent Cirque du Soleil show.
Harrah's Entertainment, Keppel Land and Star formed a consortium to build Caesars Singapore, which would have featured a theme park surrounding iPort, the 16-story, 1 million sq. ft. immersive entertainment experience to be produced by director James Cameron. The Centre Pompidou gallery, architect Daniel Libeskind, Anschutz Entertainment Group, venue manager SMG, Suntec Singapore Intl. Convention & Exhibition Centre, retailers Taubman Asia and Gordon Group Holdings, and retail designer Peter Marino were also part of the Harrah's team.
Genting Intl. and Star Cruises, meanwhile, made a $3.1 billion bid for the Singapore Entertainment & Events Destination, which would have included more than 5,000 hotel rooms with a 2010 opening date. Their proposal called for a hall to seat 5,500 and a grand ballroom for 6,000. Developers didn't disclose the amount of exhibit space planned.
LVS became the only solo bidder after its partner, hotel developer City Developments, dropped out last January. Because of that, and its lack of government ties, its proposal was viewed by observers as a dark horse.
But the also-rans for Singapore's first casino might have another chance once the bidding process begins for a second resort, one expected to be more of a family destination.
