Marina Bay Sands net revenue down 9.8% in Q4
The casino operator posted net revenue of US$682m for the three months to December 31, 2022.
Singapore.- Marina Bay Sands in Singapore has posted net revenue of US$682m for the fourth quarter of the year 2022. That’s down 9.8 per cent when compared to the previous quarter but up 85.3 per cent year-on-year from US$368m.
Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) declined 20.4 per cent from US$343 in Q3 2022 to US$273m. However, the figure was up 54.2 per cent from the US$177m posted in the fourth quarter of 2021.
The mass-market chip drop in the fourth quarter reached US$1.45bn, up from just under US$1.26bn in the third quarter. The occupancy rate at MBS increased from 96.1 per cent in the third quarter to 98.3 per cent, while the average daily spend increased from US$515 to US$550.
Robert Goldstein, chairman and chief executive officer of Las Vegas Sands said: “We were pleased to see the robust recovery continue at Marina Bay Sands during the quarter, with the property delivering record levels of performance in both mass gaming and retail revenue.”
Las Vegas Sands has started a US$1bn renovation project at Marina Bay Sands. The project is separate from Las Vegas Sands’ commitment to the Singapore government in 2019 to invest S$4.5bn (US$3.3bn) in the expansion of the Marina Bay Sands hotel. The pledge coincides with the group’s extension of Singapore casino rights to 2030.
