$9 billion is going to be invested by the two largest operators of integrated resorts in an attempt to make more world-class attractions available. The proposed improvements will add a fourth tower to the well-known Marina Bay Sands development. There will also be the addition of three more hotels and Universal studios Singapore will also be extended.
Furthermore, the two casinos under the control of Resorts World Sentosa and Marina Bay Sands development can be expanded. This came after their exclusive rights to operate a casino in Singapore has been extended until 2030. However, this comes at a price because government taxation will be harsher. All of this is an attempt by the government to keep gambling under control. The casino levies of Singapore residents will be increased. Singapore is becoming increasingly popular as a destination for overseas visitors.
The initial investment by IR in 2013 was $15 billion and therefore the nine billion for the new development is almost as much and it will certainly be an important initiative economically. It is precisely because of this large investment and the condition and longevity and certainty which it will provide to the community which was the primary motivating reasons why the government has decided to be lenient and to extend the original exclusivity period for the two casinos and to allow them to continue operations until 2030.
The city fathers have confirmed that they made the new decision regarding the casinos in order to ensure that the proposed new development will continue to remain viable commercially. The new agreements and extended exclusivity rights mean that the current gaming space will increase to 32.500 m3. However, because of the expansion of non-gaming areas the current space which is taken up by gambling operations will actually decrease.
The space occupied by the Maritime Experiential museum will be taken over by the SEA Aquarium Resulting in an Aquarium which is three times bigger than the previous Aquarium. When the new project has been completed there will be a completely new waterfront lifestyle complex and this will include eateries, retail spaces and two hotels. There is a possibility that there will be an unmanned shuttle which will provide a convenient connection between the VivoCity and the resort Island.
Even the most exciting inventions quickly lose their attraction and that is why new experiences will be introduced every year until the expansion project has been successfully completed in 2025. To accommodate the people who are going to be attracted to the area a new one thousand room luxury hotel tower will be erected next to the three towers already on site. This new tower will only have suites. In the future more concerts will be hosted here and therefore an entirely new entertainment area is planned which will hopefully attract more of the big-name artists. In order to make the expansions possible eight acres of state land will be used.