Marina Bay Sands secures record $9 billion loan for casino expansion
Singapore’s Marina Bay Sands (MBS) has secured a $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...
Singapore Inaugurates New Regulator to Get Ahead of New Gambling Trends
On August 16, Singapore inaugurated its new Gambling Regulatory Authority (GRA), which will take over from the Casino Regulatory Authority (CRA) and will aim to practice a holistic approach toward the whole of the gambling industry, encompassing all new gambling products that are available on the market. The GRA inauguration ceremony took place on August 16 at the Suntec Singapore Convention and Exhibition Centre. Josephine Teo,...
