Marina Bay Sands unveils US$1m hospitality scholarship programme

Net revenue at Marina Bay Sands reached US$679m in the second quarter of the year.
Net revenue at Marina Bay Sands reached US$679m in the second quarter of the year.

The Sands Hospitality Scholarship programme will benefit more than 100 Singaporean students.

Singapore.- Marina Bay Sands and parent company Las Vegas Sands have unveiled a scholarship programme that they say will build a pipeline of new talent for Singapore. The Sands Hospitality Scholarship programme will provide US$1m in funding for over 100 Singaporean students to attend hospitality and tourism-related courses at six institutes of higher learning (IHLs).

Recipients may use the scholarship to support their educational expenses, from tuition fees, and course materials to immersion programmes and other activities for a minimum of three years beginning in 2023.

Ron Reese, senior vice president of global communications and corporate affairs at Las Vegas Sands, said: “The hospitality industry’s greatest asset lies in its people, and developing hospitality talent is especially important as the sector undergoes a rapid transformation.

“Singapore’s resilient tourism industry is expected to grow robustly with international travel resuming. By investing in education to help youth establish careers in hospitality, we are supporting the future of our industry and Singapore’s continued leadership as a top global travel destination.” 

Paul Town, Marina Bay Sands’ chief operating officer, added: “As one of Singapore’s largest hospitality players, Marina Bay Sands has had the privilege of creating thousands of jobs and developing careers for our Team Members in diverse roles. 

“We are always on the lookout for the brightest talents to join us in our next stage of growth, and the scholarship is intended to encourage more to chart their paths in this burgeoning industry.” 

Marina Bay Sands net revenue up 107.6% in Q2

Marina Bay Sands posted net revenue of US$679m for the second quarter of the year, 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.

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.

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