{"id":777022279,"date":"2025-01-23T10:12:23","date_gmt":"2025-01-23T13:12:23","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777022279"},"modified":"2026-04-22T02:29:42","modified_gmt":"2026-04-22T05:29:42","slug":"jp-morgan-lowers-estimate-for-sands-china-property-level-ebitda","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jp-morgan-lowers-estimate-for-sands-china-property-level-ebitda","title":{"rendered":"JP Morgan lowers estimate for Sands China property-level EBITDA"},"content":{"rendered":"\n

JP Morgan expects Sands China’s property-level EBITDA for 2025 to be 5 per cent lower than its previous estimate.<\/p>\n\n\n\n\n\n\n\n

Macau.- Analysts at JP Morgan have predicted that Sands China’s operations<\/strong> could generate property-level earnings before interest, taxes, depreciation and amortisation (EBITDA) of approximately US$2.66bn in 2025. The figure would 5 per cent lower than analysts’ previous estimate of US$2.8bn.<\/p>\n\n\n\n

Analysts\u00a0Joseph Greff<\/strong>,\u00a0Samuel Nielsen\u00a0<\/strong>and Pritesh Patel <\/strong>expect Sands China to post net revenues of US$8.21bn this year, following an estimate of US$7.82bn for 2024. For full year 2024, JP Morgan estimates group-wide property EBITDA of US$2.33bn. It lowered expectations for fourth-quarter earnings from US$625m to US$578m based on an assumption of\u00a0a gross gaming revenue (GGR) market share of circa 23 per cent, mainly due to the renovation of the Londoner Macao rooms.<\/p>\n\n\n\n

See also: <\/strong>Macau shares gross gaming revenue results in 2024<\/a><\/p>\n\n\n\n

Marina Bay Sands<\/h2>\n\n\n\n

Analysts said Marina Bay Sands is expected to post net revenue of US$4.13bn in 2024 and US$4.30bn in 2025, while the property-level EBITDA could be US$2.04bn in 2024 and US$2.17bn in 2025.<\/p>\n\n\n\n

On January 10, Las Vegas Sands (LVS)<\/strong>\u00a0announced it would pay US$1bn to Singaporean authorities after entering into an agreement with the Singapore Tourism Board (STB) to amend the expansion project for\u00a0Marina Bay Sands<\/strong>. The company said it aims to increase the gaming area allocation. It needs to purchase 2,000 square meters (21,528 sq. feet) of approved gaming area and 10,000 square meters in support of the gaming area from the STB.<\/p>\n\n\n\n

In October, LVS revealed plans to invest US$8bn in the development of the second phase of Marina Bay Sands, which will feature the development of the Marina Bay Sands Tower IV, with 570 rooms, and additional casino space. The fourth tower will feature a 15,000-seat entertainment arena<\/strong>. Development is slated to begin by June 2025 and to complete by January 2031.<\/p>\n","protected":false},"excerpt":{"rendered":"

JP Morgan expects Sands China’s property-level EBITDA for 2025 to be 5 per cent lower than its previous estimate.<\/p>\n","protected":false},"author":176,"featured_media":20685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"JP Morgan has revised its 2025 property-level EBITDA forecast for Sands China downwards by 5% to US$2.66bn, citing factors like Londoner Macao renovations impacting GGR market share. Concurrently, Las Vegas Sands is proceeding with an US$8bn expansion of Marina Bay Sands in Singapore, increasing gaming area allocation and adding a new tower with an entertainment arena.","focusai_entities":"JP Morgan, Sands China, Joseph Greff, Samuel Nielsen, Pritesh Patel, Las Vegas Sands, Singapore Tourism Board, STB","focusai_location":"Macau, Singapore","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Impact","query":"How might the Londoner Macao's renovation-driven GGR market share reduction impact Sands China's competitive positioning against other Macau concessionaires in the near term?"},{"label":"Marina Bay Sands ROI","query":"What is the projected return on investment (ROI) timeline and key performance indicators (KPIs) for Las Vegas Sands' US$8bn expansion of Marina Bay Sands, particularly concerning the increased gaming area and new entertainment arena?"}],"footnotes":""},"categories":[16338,163],"tags":[1642,23906,21680],"class_list":["post-777022279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-las-vegas-sands","tag-macau-casinos","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022279","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=777022279"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022279\/revisions"}],"predecessor-version":[{"id":777022302,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022279\/revisions\/777022302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20685"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777022279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}