The parent company has asked to open the Marina IR in stages.
THE Singapore Tourism Board on Thursday confirmed that it has received a proposal from Marina Bay Sands to defer the opening of certain portions of the Marina Bay integrated project.
The Marina Bay Sands project hit the headlines recently because of concerns over its parents company Las Vegas Sands' ability to continue operating. -- ST PHOTO: ALPHONSUS CHERNSTB chief Lim Neo Chian said: 'Marina Bay Sands had earlier committed to completing the integrated resort in a single phase by end 2009. However, it recently submitted a proposal for a progressive opening from end 2009 onwards. STB is considering the proposal.'
He declined to reveal more details as 'discussions are underway'.
The Marina Bay Sands project hit the headlines recently because of concerns over its parents company Las Vegas Sands' ability to continue operating.
The casino operator's auditor said it may not be able to meet lenders' requirements unless it raised more capital and downsized its developments.
That put the spotlight on Singapore's first IR which watchers worry may fail should the operator go bankrupt. However, the company said on Tuesday, during an earnings call, that the Singapore project remain its 'top priority'.
It is also suspending projects in Las Vegas and Macau, but going full steam ahead to continue with the Marina Bay Sands IR.
Mr Lim said on Thursday: 'We welcome LVS' affirmation that it will focus its development activitie and available capital principally on the timely completion of two of its developments - one of them being the MBS.'
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