The resort’s room revenue rose by 85.7 per cent.<\/p>\n\n\n\n\n\n\n\n
Singapore.- Las Vegas Sands has reported that\u00a0Marina Bay Sands (MBS)\u00a0<\/strong>generated a record US$432m in adjusted property earnings before interest, taxes, depreciation, and amortization (EBITDA) for the three months ending June 30. That’s a 24 per cent increase compared to pre-pandemic figures. Year-on-year adjusted property EBITDA was up 35.4 per cent, reaching US$319m.<\/p>\n\n\n\n Net revenue was up 36.2 per cent in year-on-year terms from US$679m to US$925m. The primary driving force was revenue from casinos, which rose by 29.8 per cent to US$649m.<\/p>\n\n\n\n The resort’s room revenue rose by 85.7 per cent, contributing US$104m, while revenue from food and beverage grew 75 per cent to US$84m. Convention, retail, and other revenue saw an increase of 55 per cent, reaching US$31m. Mall revenue remained relatively stable, with a slight increase to US$57m.<\/p>\n\n\n\n Marina Bay Sands has recently completed\u00a0the development of over 850 hotel rooms<\/a>\u00a0that are located in Towers 1 and 2 of the complex. The newly configured rooms and suites are part of the\u00a0US$1bn renovation project<\/a>\u00a0the casino operator announced last February.<\/p>\n\n\n\n The project is separate from Las Vegas Sands\u2019 commitment to the Singapore government in 2019 to invest S$4.5bn (US$3.3bn) in the expansion of the Marina Bay Sands hotel<\/strong>.<\/p>\n\n\n\n For the first half of 2023, MBS recorded net revenue of US$1.8bn, marking a 64.5 per cent increase compared to the same period last year. Adjusted property EBITDA rose by 87.7 per cent, reaching US$826m.<\/p>\n","protected":false},"excerpt":{"rendered":" The resort’s room revenue rose by 85.7 per cent.<\/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 (MBS) reported a record US$432m in adjusted property EBITDA for Q2 2023, marking a 24% increase over pre-pandemic figures, driven by a 29.8% rise in casino revenue and substantial growth across non-gaming verticals. Net revenue reached US$925m, with ongoing US$1bn renovation projects and a committed S$4.5bn expansion underscoring strategic capital deployment.","focusai_entities":"Las Vegas Sands, Marina Bay Sands","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.85)","focusai_suggestions":[{"label":"MBS ROI on Capex?","query":"What is the projected return on investment (ROI) for the US$1bn renovation and S$4.5bn expansion projects, and how will these impact future GGR and non-gaming revenue diversification for MBS?"},{"label":"MBS Performance Benchmarking?","query":"How does Marina Bay Sands' Q2 2023 financial performance, particularly the growth in non-gaming verticals, benchmark against other integrated resorts in competitive Asian markets?"}],"footnotes":""},"categories":[163,16333],"tags":[168],"class_list":["post-777007457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-marina-bay-sands"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007457","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=777007457"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007457\/revisions"}],"predecessor-version":[{"id":777007473,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007457\/revisions\/777007473"}],"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=777007457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777007457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777007457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}