It was a busy seven days for the  Las Vegas Sands Corp. in the Far East. First, on Wednesday, the company announced it has signed a development deal with the Singapore Tourism Board in regard to their Marina Bay Sands Resort, allowing them to now officially begin construction on the site that is set to open in 2009. They had previously begun pre-construction, pre-marketing and pre-leasing initiatives with the property. The group won a hotly-contested bidding war for the right to build Singapore’s first casino, besting tenders from groups that included MGM Mirage and Harrah’s Entertainment. Las Vegas Sands has stated that it will invest more than $3 billion to develop the casino resort. It is expected to create 30,000 additional jobs by 2015.

Elsewhere in the region, the company announced Thursday that their Sands Macau has completed expansion of its casino floor. Measuring in at more than 229,000 square feet with 740 tables, the casino is now being reported as the largest in the world. Having the distinction of being the first western-operated casino in Asia, the expansion added more than 64,000 square feet of gaming space over three floors of the casino area, creating an ability to house 273 more gaming tables (a 58 percent increase) as well as 365 more slot machines, now totaling 1,254. The company is setting to open The Venetian Macau next year, in what is being billed as the first Las Vegas-style Integrated Resort in the area, along with the opening of the remaining Cotai Strip properties. Further, they are also awaiting approval for another development in the region on Hengquin Island.

Although shares of Las Vegas Sands fell $1.41 at Friday close, measuring in at $66.27 per share, the company has analysts projecting a rosy future for the company throughout the region, as initial speculation of a limited regional market has proved unfounded, with even the opening of competitor Wynn Resorts Macau casino (still-to-be-opened) eventually contributing favorably to Sands bottom line in the form of expected overflow attendance.

- Rex Harris