Marina Bay Sands to host music festival
Marina Bay Sands (MBS) will host a 10-concert music festival between July 15 and August 2.
Singapore.- Marina Bay Sands has announced the first edition of its music festival, “Where Music Takes Over.” The event will span nearly three weeks, from July 15 to August 2.
According to a press release, Marina Bay Sands host over 10 concerts and musical showcases. Headlining acts include Taiwanese Mandopop star David Tao, Ellie Goulding, and Colombian singer, songwriter and music producer J Balvin.
Since the beginning of the year, Marina Bay Sands has been working to present a wider range of attractions in order to increase the number of visitors. Robert G. Goldstein, the chairman and CEO of Las Vegas Sands, said he expects Marina Bay Sands to soon hit quarterly EBITDA of US$500m.
He said EBITDA levels in Singapore have already recovered to the levels seen in 2019 and said he expected the venue could achieve annualised EBITDA of US$2bn. He emphasised the importance of increasing Chinese visitation and enhancing the quality of lodging and gaming experiences.
The company recently reported that adjusted property EBITDA rose from US$121m to US$394m year-on-year in the first quarter of the year. That represents approximately 93 per cent of the EBITDA recorded in the first quarter of 2019. The company posted US$848m in revenue.
