Marina Bay Sands reports net revenue increase for end-2024

Marina Bay Sands’ parent company Las Vegas Sands reported that the Singaporean mixed-use complex generated a net revenue of US$1.14 billion in the fourth quarter of 2024.

This is 24.05 percent higher than that recorded in Q3-2024, and reflects a 7.2 percent increase year-on-year.

MBS’ adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$537 million, lower by 1.3 percent from where it was in the same period in 2023.

However, the Q4-2024 EBITDA was up by 32.27 percent in quarter-on-quarter terms.

Likewise, MBS’ gaming revenues were up 6.44 percent year on year, settling at US$792 million; non-gaming revenue, on the other hand, was at US$345 million, up 7.81 percent.

Total hotel occupancy for Q4-2024 was at 93.4 percent, thanks primarily to holiday-centric bookings.

Las Vegas Sands chair and chief executive Robert G Goldstein said of the Q4-2024 figures: “MBS continued to deliver outstanding financial and operating performance. Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia expands.”

Paying for expansion

Following the Marina Bay Sands revenue report, Las Vegas Sands announced that it is paying the Singapore government US$1 billion following certain changes made to the expansion plans for the mixed-use development.

Filed last 10th January, the changes involve an increase in the overall gaming area allocation, as well as other vital amendments.

Based on the adjustments, the company needs to purchase an additional 2,000 square meters of approved gaming area and a further 10,000 square meters in support of the gaming area from the STB.