Net revenue was up 7.2 per cent year-on-year and 24.05 per cent quarter-on-quarter.
Singapore.- Las Vegas Sands (LVS) has reported that Marina Bay Sands (MBS) generated net revenue of US$1.14bn in the fourth quarter of 2024. That’s an increase of 7.2 per cent in year-on-year terms and of 24.05 per cent compared to the third quarter of the year.
The casino operator’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$537m, down 1.3 per cent year-on-year from US$544m for the fourth quarter of 2023 but up 32.27 per cent in quarter-on-quarter terms. According to the company, EBITDA was positively impacted by a high hold on rolling play.
Casino revenue was up 6.44 per cent year-on-year from US$741m to US$792m. Rolling chip volume was up 11.6 per cent to US$8.08bn and the non-rolling chip drop was down 27.78 per cent at US$2.3bn. The slot handle was down 4.62 per cent at US$6.5bn.
Non-gaming revenue was up 7.81 per cent in year-on-year terms from US$320m to US$345m. Hotel occupancy was 94.3 per cent.
Robert G. Goldstein, chairman and chief executive officer, said: “In Singapore, MBS continued to deliver outstanding financial and operating performance. Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia expands.”
Las Vegas Sands to pay US$1bn for Marina Bay Sands expansion changes
LVS announced it will pay US$1bn to Singaporean authorities after entering into an agreement with the Singapore Tourism Board (STB) for changes to the expansion project for MBS. In a filing issued on January 10, the company said it aims to increase the overall gaming area allocation for the expansion project, among other amendments. The company needs to purchase 2,000 square meters (21,528 sq. feet) of approved gaming area and 10,000 square meters in support of the gaming area from the STB.
Net revenue was up 7.2 per cent year-on-year and 24.05 per cent quarter-on-quarter. Singapore.- Las Vegas Sands (LVS) has reported that Marina Bay Sands (MBS) generated net revenue of US$1.14bn in the fourth quarter…
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