Marina Bay Sands net revenue up US$756m in Q3
Marina Bay Sands was by far Las Vegas Sands’ most successful property in the third quarter.
Singapore.- Las Vegas Sands has shared Q3 financial results for Marina Bay Sands in Singapore. Net revenue was S$1.08bn (US$756m). Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose from US$15m in Q3 2021 to US$343m.
The occupancy rate at MBS increased from 71.1 per cent last year to 96.1 per cent, while the average daily spend increased from US$235 to US$515. Revenue per available room increased from US$169 to US$494.
Robert Goldstein, chairman and chief executive officer of Las Vegas Sands said the company remains enthusiastic about the opportunity to receive more guests as greater volumes of visitors can travel to Singapore.
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.
