Our man on the ground in Singapore reported back some interesting tidbits following meetings with government officials, academics, resort and construction companies, and local reporters. There seems to be some concern that LVS will not be able to open Marina Bay Sands by the end of 2009. As of this past week, 55% of the concrete has been poured and the facility is built up to floor 10 of 56. However, construction costs have exploded over the past year in Singapore and labor is tighter than it’s ever been. Marina Bay Sands may or may not open on time. It’s probably too early to tell, but with these conditions I would expect the budget to escalate from the current $4.5bn.
Typical chart of a new casino budget