Singapore opens world's second most expensive casino

1 / 20The $5.9 billion Marina Bay Sands, the world's No.2 most expensive casino after MGM Mirage's CityCenter in Las Vegas, has opened in Singapore.Reuters2 / 20The rooftop infinity pool at Marina Bay Sands is the world's largest.Reuters3 / 20Visitors take in the view from the SkyPark at Marina Bay Sands in Singapore.AFP4 / 20The world's largest rooftop infinity pool at Marina Bay Sands, Singapore.Supplied5 / 20High rollers ... mall shopping at Marina Bay Sands.Supplied6 / 20Marina Bay Sands is expected to generate as much $US1 billion in annual profit.AP7 / 20The hotel lobby of the Marina Bay Sands on its opening day in Singapore.AFP8 / 20The Marina Bay Sands casino gaming hall in Singapore.AFP9 / 20A man stands on a balcony inside the main lobby of the Marina Bay Sands resort hotel during its inauguration.Reuters10 / 20Las Vegas Sands CEO Sheldon Adelson (2nd R) cuts the ribbon next to his wife Miriam, architect Moshe Safdie (L) and Las Vegas Sands President and COO Michael Leven (R) during the opening ceremony.Reuters11 / 20The remaining hotel rooms and suites, a skypark and more shops will open on June 23, while a museum, theatres and other stores will start operations later in the year, the management said.Reuters12 / 20Visitors look at a miniature model of the Marina Bay Sands.AP13 / 20The $US5.5 billion Marina Bay Sands, the world's No.2 most expensive casino after MGM Mirage's CityCenter in Las Vegas, opens in Singapore.Reuters14 / 20People queue up to enter the Marina Bay Sands as it opens.AFP15 / 20Marina Bay Sands skypark is on top of the hotel building.AFP16 / 20Marina Bay Sands employees pose for photographs in ahead of the casino's opening.AP17 / 20Dealers man tables at the casino of the Marina Bay Sands.AP18 / 20The Helix bridge leading to the Marina Bay Sands casino.Reuters19 / 20Tibetan monks pose for photos in front of Marina Bay Sands.Reuters20 / 20A security officer stands at the casino entrance of the Marina Bay Sands.APPrevious SlideNext SlideSingapore threw open the doors of its second casino on Tuesday as part of a $US5.5 billion ($A5.9 billion) complex built by US gaming giant Las Vegas Sands.

Marina Bay Sands, located next to the financial district, opened at the locally auspicious time of 3:18 pm (5:18pm AEST). The number eight sounds like the word for prosperity in Chinese.

The $US5.5 billion casino-resort is the world's second most expensive casino after MGM Mirage's CityCenter in Las Vegas and is expected to generate as much $US1 billion in annual profit.

Singapore gave the green light for casino gambling in 2005, setting off a flurry of construction that went ahead despite the city-state slipping into recession in 2008 because of the global financial crisis.

Its first casino, the $US4.4 billion Resorts World Sentosa, opened for business on February 14.

Marina Bay Sands was originally set to open at the end of 2009 but faced repeated delays caused by a number of factors, including material and labour shortages and financial problems due to the latest global economic downturn.

Tuesday's opening included the casino and 963 out of 2,560 hotel rooms, a portion of the shopping mall, some restaurants, an exhibition centre and the events plaza.

The remaining hotel rooms and suites, a skypark and more shops will open on June 23, while a museum, theatres and other stores will start operations later in the year, the management said.

Officials hope the casinos will help Singapore achieve a target of attracting 17 million visitors a year generating over 21 billion US dollars by 2015, boosting the services sector and reducing the role of manufacturing in the economy.

Marina Bay Sands is designed to cater to the corporate and convention crowd while Resorts World is aimed at families.

Built by Malaysia's Genting Group, the Resorts World complex includes Southeast Asia's only Universal Studios movie theme park, hotels, restaurants and convention facilities.

Las Vegas Sands also has major operations in the Asian gaming haven of Macau.

Singapore, with its two mega casinos, is unlikely to overtake Macau but may steal some "high-rollers" from China as operators shift premium business to the city-state where they face an effective tax rate of 12 per cent compared with about 39 per cent in the Chinese territory.

Neighbouring Malaysia's sole casino, run by Genting Singapore's parent Genting Bhd may also lose business to Singapore's newer and swankier casinos.

Marina Bay Sands has teamed up with coach operators to offer 130 daily trips from various Malaysian cities to its doorsteps.

Photos: Singapore's $5.94 billion casino opens

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