FOR the upcoming expansion plans of Singapore's two integrated resorts , the 3.3 hectare site for Marina Bay Sands' expansion has a cost of S$1.3 billion, while Resorts World Sentosa has set aside a budget of S$1 billion to intensify the use of its existing land and to buy around one hectare of new land, said Senior Minister of State for Trade and Industry Chee Hong Tat.
If the IRs choose to exercise their options for additional gaming areas, they will have to pay additional costs for these areas, he added:"The amount payable will be determined by the chief valuer based on prevailing market conditions when the option is exercised." He noted that the IRs have not decided to activate the additional gaming options. If both exercise these options in full, the gaming area as a proportion of total floor area will fall from 3 per cent today to 2.3 per cent, as non-gaming area expands by a much larger percentage.
Source: News Formal (newsformal.com)
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