The Sands Hospitality Scholarship programme will benefit more than 100 Singaporean students.<\/p>\n\n\n\n\n\n\n\n
Singapore.-\u00a0Marina Bay Sands\u00a0and parent company Las Vegas Sands have unveiled a scholarship programme that they say will build a pipeline of new talent for Singapore.\u00a0The Sands Hospitality Scholarship programme will provide\u00a0US$1m <\/strong>in funding for over 100 Singaporean students\u00a0<\/strong>to attend hospitality and tourism-related courses at six institutes of higher learning (IHLs).<\/p>\n\n\n\n Recipients may use the scholarship to\u00a0support their educational expenses<\/strong>, from tuition fees, and course materials to immersion programmes and other activities for a minimum of three years beginning in 2023.<\/p>\n\n\n\n Ron Reese<\/strong>, senior vice president of global communications and corporate affairs at Las Vegas Sands, said: \u201cThe hospitality industry\u2019s greatest asset lies in its people, and developing hospitality talent is especially important as the sector undergoes a rapid transformation.<\/p>\n\n\n\n “Singapore\u2019s 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\u2019s continued leadership as a top global travel destination.\u201d <\/p>\n\n\n\n Paul Town<\/strong>, Marina Bay Sands\u2019 chief operating officer, added: \u201cAs one of Singapore\u2019s 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. <\/p>\n\n\n\n “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.\u201d\u00a0<\/p>\n\n\n\n Marina Bay Sands<\/strong>\u00a0posted 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.<\/p>\n\n\n\n Casino revenue at Marina Bay Sands <\/strong>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.<\/p>\n\n\n\n In April, authorities announced the reopening of borders to all fully vaccinated travellers<\/a>. The announcement brought a strong growth in the volume of air passengers<\/a> arriving in the country.<\/p>\n","protected":false},"excerpt":{"rendered":" The Sands Hospitality Scholarship programme will benefit more than 100 Singaporean students.<\/p>\n","protected":false},"author":176,"featured_media":18107,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Marina Bay Sands and parent company Las Vegas Sands have launched a US$1 million scholarship program for over 100 Singaporean students, aiming to cultivate a robust talent pipeline for the hospitality sector. Concurrently, Marina Bay Sands reported a significant Q2 2023 financial rebound, with net revenue up 107.6% to US$679 million and casino revenue increasing 124.2% to US$500 million, driven by strong VIP rolling chip volume and mass-market recovery following border reopenings.","focusai_entities":"Marina Bay Sands, Las Vegas Sands, Ron Reese, Paul Town","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Talent pipeline ROI","query":"What is the projected return on investment for Las Vegas Sands' US$1 million scholarship program in terms of long-term talent retention and operational cost efficiencies for Marina Bay Sands?"},{"label":"VIP segment drivers","query":"Beyond border reopenings, what specific high-roller marketing strategies or enhanced player loyalty programs contributed to Marina Bay Sands' 781.4% increase in VIP rolling chip volume?"}],"footnotes":""},"categories":[23876,16333],"tags":[168],"class_list":["post-33329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-news","category-south-east-asia-news","tag-marina-bay-sands"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=33329"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33329\/revisions"}],"predecessor-version":[{"id":33364,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33329\/revisions\/33364"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18107"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Marina Bay Sands net revenue up 107.6% in Q2<\/h2>\n\n\n\n