Las Vegas Sands is doubling down on its bet in Singapore with an $8 billion investment to expand its footprint in one of Asia biggest financial centers to tap into travel boom.

On Tuesday, the American gaming giant started construction of a new 55-story hotel tower next to its existing Marina Bay Sands resort, casino and convention center at the heart of the city-state’s financial district. The ground breaking ceremony was officiated by Singapore Prime Minister Lawrence Wong and Las Vegas Sands cofounder Miriam Adelson, wife of the late casino billionaire Sheldon Adelson.

“Marina Bay Sands is the world’s most successful integrated resort in history and the gold standard in the industry,” Robert Goldstein, chairman and CEO of Las Vegas Sands, said in a statement. “It has been truly incredible to witness Mr. Adelson’s vision come to life, and we are proud to carry his legacy forward with today’s groundbreaking ceremony for our new development here. We have every intention of delivering a product that will be the envy of the hospitality industry and ushers in a new era of luxury tourism in Singapore.”

Designed by Safdie Architects, the firm behind Marina Bay Sands’ iconic design, the new hotel complex will have 570 suites, a 15,00-seat indoor arena for concerts and other live entertainment events, Las Vegas Sands said.

The hotel tower, which is expected to open in 2031, will also feature a 76,000-square-foot Skyloop, an multi-level observation deck about 245 meters above ground, providing panoramic views of the city and the harbor. The Skyloop will have a wellness terrace designed for yoga, arts and specialty events.

Since opening in 2010, Marina Bay Sands—which was developed at a cost of $5.6 billion—has been a key growth driver for Las Vegas Sands. The property’s EBITDA increased 10% to $2.1 billion in 2024, accounting for about 48% of the group’s total.