Posted on: August 30, 2022, 07:10h.
Last updated on: August 30, 2022, 11:23h.
Las Vegas Sands (LVS) wants to make sure tomorrow’s leaders in Singapore have the right tools for the job. Through its Marina Bay Sands (MBS) casino resort, it’s ready to give out cash for education scholarships.
LVS has a solid history in Singapore, and has routinely introduced initiatives to support the economy. MBS is also one of the largest employers in the country, recently looking to increase its staffing level by around 2,000.
As it continues to help shape Singapore’s future, LVS has launched the Sands Hospitality Scholarship (SHS) program. This will distribute $1 million to students who choose certain fields of study to advance their professional careers.
Singapore Tourism on the Rise
The new scholarship program comes as Singapore’s hospitality industry is growing. Mordor Intelligence reports that inbound travel has risen from 9.6 million in 2009 to around 19.1 million in 2019. For the next few years, the compound annual growth rate is expected to continue above 6.9%.
As a result, Singapore needs more hospitality professionals. Beginning next year, more than 100 second-year students will benefit from the new SHS program, provided they are pursuing careers in hospitality or other tourist-related fields.
We are always on the lookout for the brightest talents to join us in our next stage of growth, and the scholarship is intended to encourage more to chart their paths in this burgeoning industry,” MBS COO Paul Town stated.
The scholarship will be available for use only at specific schools. These include Nanyang Polytechnic, Ngee Ann Polytechnic, Republic Polytechnic, Singapore Polytechnic, Temasek Polytechnic, and the Singapore Institute of Technology (SIT).
Over the life of the scholarship, about 19 students per school and around 14 from SIT can apply for the program. Selected individuals can use the funds to cover expenses, including tuition, course materials, and more.
On top of the financial benefits, recipients will be eligible to apply for internship and full-time roles in the hospitality and tourism sectors. Food and beverage and events management are two areas that always have a high degree of advancement success in the gaming industry.
MBS Continues Education Drive
The new scholarship program follows another initiative LVS has had with SIT. For the past four years, MBS has worked with the school on scholarships for undergraduates pursuing a degree in hospitality. Some 80 SIT students benefited from a total contribution of $286,560 between the 2018 and 2021 academic years, according to LVS.
To retain the half of the Singapore gaming duopoly it shares with Genting Singapore, MBS is going through major upgrades. In total, the property will spend around $4.3 billion by the time it’s done.
The process is slow. Partly because of COVID-19, LVS continues to delay the work on the upgrades. This could be good news for some who will receive the new scholarships, as they might be able to find positions at the new-and-improved MBS.