Marina Bay Sands net revenue up 107.6% in Q2
Net revenue at Marina Bay Sands reached US$679m in the second quarter of the year.
Singapore.- Marina Bay Sands has shared its financial results for the second quarter of the year. It’s posted net revenue of US$679m, up 107.6 per cent year-on-year. Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose by 184.8 per cent to US$319m.
Casino revenue at Marina Bay Sands increased 124.2 per cent year-on-year to US$500m. Rolling chip volume for VIP play was up 781.4 per cent to just over US$5.39bn. The casino operator reported that the mass-market chip drop was just under US$1.14bn, up 105.6 per cent.
Singapore’s government has expressed confidence that visitor numbers will be at least two-thirds higher in the second half of the year than in the first. The Singapore Tourism Board (STB) expects “between 4 and 6 million” international visitor arrivals for the whole of 2022.
In April, authorities announced the reopening of borders to all fully vaccinated travellers. The announcement brought a strong growth in the volume of air passengers arriving in the country.
Marina Bay Sands licence extended until April 2025
Singapore’s Casino Regulatory Authority has extended Marina Bay Sands’ licence for three years until April 2025, confirming that it has complied with the Casino Control Act. The extension was delayed due to changes to Singapore’s gaming legislation.
In March, the Singapore parliament approved the Gambling Regulatory Authority of Singapore Bill and the Gambling Control Bill. The former will create the Gambling Regulatory Authority (GRA) as a single regulator for all forms of gambling.
