Marina Bay Sands secures record $9 billion loan for casino expansion

Singapore’s Marina Bay Sands (MBS) has secured a S$12 billion ($9 billion) multi-tranche loan, the largest syndicated loan in Singapore’s history, to refinance existing debt and fund an expansion of its casino resort, reports Bloomberg.

The loan, coordinated by DBS Group Holdings, Malayan Banking (Maybank), Oversea-Chinese Banking Corp (OCBC), and United Overseas Bank (UOB), saw participation from 22 other lenders, according to sources familiar with the matter. The financing surpasses a S$9.3 billion loan from 2012, which funded the acquisition of Fraser & Neave by Thai billionaire Charoen Sirivadhanabhakdi’s TCC Assets.  

Initially announced in 2019 at $3.4 billion, the cost of the Marina Bay Sands expansion has now ballooned to $8 billion. The investment will go toward casino upgrades, luxury hotels, entertainment venues, and conference facilities as part of Singapore’s broader push to position itself as a premier global tourism and business destination.  

The expansion comes as Singapore’s tourism industry rebounds strongly from the COVID-19 pandemic. International visitor arrivals rose 21% in 2024 to 16.5 million, led by tourists from China, Indonesia, and India.  

A Marina Bay Sands representative declined to comment on the loan, telling Bloomberg the company had no information to provide at this time. Parent company Las Vegas Sands Corp. has yet to respond to inquiries about the deal.  

The Marina Bay Sands expansion is expected to attract high-value travelers and bolster Singapore’s hospitality, gaming, and entertainment sectors as the city-state continues its post-pandemic economic recovery.