SINGAPORE • Singapore will extend the exclusive licences given to the country’s two casino operators until 2030 after they pledged to invest S$9 billion (RM27.14 billion) in additional tourism attractions.

Las Vegas Sands’ Singapore venture will build a fourth tower to its Marina Bay Sands resort and construct a new entertainment arena, while Genting Singapore Ltd’s Resorts World Sentosa will build two new theme zones and enlarge its aquarium, according to a statement from the Ministry of Trade and Industry and other government agencies.

The additional investments by both are almost two-thirds of their initial investment in 2006 of about S$15 billion, the ministry said.

Singapore also said it plans to increase tax rates on gross gaming revenue at the end of the current moratorium in February 2022 by introducing a tiered casino tax structure.

The city state will also boost casino entry prices for Singapore citizens and permanent residents to S$150 from S$100 per visit.

Singapore attracted record tourist numbers last year as the city benefitted from the hit movie, “Crazy Rich Asians”, and the hosting of a summit between US President Donald Trump and North Korean leader Kim Jong-un.

Visitor arrivals jumped 6.2% to 18.5 million, while receipts increased 1% to S$27.1 billion, data from the Singapore Tourism Board show.

The surge in visitor numbers is outpacing the supply of hotel rooms. An average of 764 extra rooms a year will be completed from 2018 to 2022, down from 3,357 annually between 2014 and 2017, according to Cushman & Wakefield plc. — Bloomberg