{"id":777007807,"date":"2023-08-01T06:31:27","date_gmt":"2023-08-01T09:31:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777007807"},"modified":"2026-04-22T19:28:44","modified_gmt":"2026-04-22T22:28:44","slug":"fitch-upgrades-las-vegas-sands-outlook-to-positive","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/fitch-upgrades-las-vegas-sands-outlook-to-positive","title":{"rendered":"Fitch upgrades Las Vegas Sands outlook to positive"},"content":{"rendered":"\n

Fitch Ratings citied a strong rebound in Macau and Singapore.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Fitch Ratings Inc.<\/strong>\u00a0has revised its outlook for Las Vegas Sands (LVS)\u00a0<\/strong>and its subsidiaries in Macau and Singapore from negative to positive.\u00a0According to analysts, the US-based casino operator, parent company of\u00a0Sands China<\/strong>\u00a0and\u00a0Marina Bay Sands<\/strong>, has seen a robust rebound in Macau and a strong performance in Singapore. The agency has affirmed the group’s rating at ‘BB+’.<\/p>\n\n\n\n

Sands China<\/a>‘s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA<\/strong>) <\/strong>for the second quarter was US$541m. Net revenue was up 316.4 per cent year-on-year to US$1.62bn while net income for the period amounted to US$187m<\/p>\n\n\n\n

Marina Bay Sands<\/a>\u00a0generated a record US$432m in EBITDA for the three months ending June 30. That\u2019s 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

Positive projections for Las Vegas Sands’ EBITDA leverage include assumptions for the reinstatement of the common dividend, estimated to be approximately US$600m annually, commencing in the third quarter of 2023. Fitch expects the resumption of a Sands China distribution by 2025.<\/p>\n\n\n\n

The optimistic outlook reflects increasing visitation and spending in Macau and Singapore. Fitch believes this upward trend will contribute to Las Vegas Sands’ return to investment-grade credit metrics. Nevertheless, the rating takes into account potential economic weaknesses in China and the competitive landscape in Macau due to new openings and facility expansions.<\/p>\n\n\n\n

See also:<\/strong> Sands China in top 1% of S&P Global Ratings ranking for ESG performance in China<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fitch Ratings citied a strong rebound in Macau and Singapore.<\/p>\n","protected":false},"author":176,"featured_media":18146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Fitch Ratings has upgraded its outlook for Las Vegas Sands (LVS) and its Macau and Singapore subsidiaries from negative to positive, affirming its 'BB+' rating. This revision reflects a robust rebound in Macau and record performance in Singapore, with significant year-on-year revenue and EBITDA growth for Sands China and Marina Bay Sands. The positive outlook anticipates LVS's return to investment-grade credit metrics, supported by increasing visitation and the planned reinstatement of common dividends.","focusai_entities":"Fitch Ratings Inc., Las Vegas Sands, Sands China, Marina Bay Sands, S&P Global Ratings","focusai_location":"Macau, Singapore, China, United States","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"LVS Capital Allocation?","query":"How might the anticipated US$600m annual common dividend reinstatement impact Las Vegas Sands' future capital expenditure plans for its existing properties or potential new market entries?"},{"label":"Macau Competitive Impact?","query":"Given Fitch's mention of a competitive landscape in Macau due to new openings, what specific strategies is Sands China implementing to maintain market share and GGR growth?"}],"footnotes":""},"categories":[157,16338],"tags":[1642,168,21680],"class_list":["post-777007807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-las-vegas-sands","tag-marina-bay-sands","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007807","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=777007807"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007807\/revisions"}],"predecessor-version":[{"id":777007822,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007807\/revisions\/777007822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18146"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777007807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777007807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777007807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}