FEA TURE — M ARINA BA Y SANDS SINGAPORE


The two-level Sands Theater has utilised the best available technology to deliver featured performances of Riverdance and the Lion King.


soon to choose between Madrid and Barcelona for a €16bn (S$21bn) gambling resort. The euro zone turmoil does not faze him: ‘It will take us four to five years,’ he told Forbes magazine. ‘By then everything will be solved.’ Mr Adelson’s Las Vegas Sands (LVS) hopes to create a “Euro Vegas”, capable of attracting the 1 billion people who live in the 50 countries within a five-hour flight from Spain. He chose the country because of the weather and because its unemployment rate, now at 23%, ‘assures us the support of the government’. The numbers are cer- tainly eye-popping. LVS would invest €6bn in a first phase to build four hotel strips — eventually reaching twelve — as well as casinos, shops, restaurants, golf courses and convention centres. LVS says the project could create 260,000 indirect and direct jobs, enough for nearly half the unemployed in Madrid. Spain is already the fourth-largest holiday destination in the world, but LVS reckons Euro Vegas would attract 11 million new tourists on top of the 57 million a year Spain already gets,


increasing tourism spending by €15.5bn over the next ten to fifteen years.” The combination of announcements, firstly of the Las


Vegas Sands Corporation results for the First Quarter of 2012 (“Adjusted Property EBITDA Soars 43.0% to Industry Record $1.07bn; Company Record 11th Consecutive Quarter of Adjusted Property EBITDA Growth”), marking the first gaming company ever to deliver in one financial quarter more than US$1bn (Adjusted Property Earnings before Interest, Tax and Amortisation), and also an indus- try record of US$2.76bn Net Revenue; secondly the Offi- cial Opening of the US$6bn Sands Cotai Central development in Macau (the largest Integrated Resort yet built); and thirdly the announcement of the proposal to develop a US$21bn resort development in Spain, focuses the spotlight on the momentum generated by the over- whelming success of the Integrated Resort model of which Marina Bay Sands is the stellar performer — the quintessence of success. ✪


QUINTESSENCE OF SUCCESS


Acknowledgements: Photography by Timothy Hursley and Paul McMullin. Special thanks to Karen Mosley, Executive Director of Entertainment, Marina Bay Sands, for her valuable assistance and approval for use and supply of photographs and associated documentation.


20 th AN N I V ER S AR Y


P AR T


II/ S U M M ER 1 2


P AN S T AD I A


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