Sands heralds Marina Bay property best in the market
Records were once again broken at Marina Bay Sands in Singapore for Las Vegas Sands but there was dissatisfaction in Macau despite strong rolling chip growth and significant property visitation with $608m in EBITDA.
In Singapore, Marina Bay Sands brought in Adjusted Property EBITDA of $806m, marking what is believed to be the highest quarterly EBITDA in the history of casino hotels, with a margin of 50.3 per cent.
Performance in the company’s Macau casinos was affected by higher operating costs, as well as a continued trend to lower-margin premium segments.
Overall for the company, net revenue was $3.65bn, compared to $2.9bn in the prior year quarter. Operating income was $707m, compared to $590m in the prior year quarter. Net income in the fourth quarter of 2025 was $448m, compared to $392m in the fourth quarter of 2024.
“We remain enthusiastic about our opportunities to deliver growth in both Singapore and Macau, as we realize the benefits of our market-leading capital investment programs,” said Robert G. Goldstein, chairman and chief executive officer.
“In Singapore, Marina Bay Sands once again delivered outstanding financial and operating performance. Our elevated suite and service offerings position us for additional growth as travel and tourism spending in Asia continues to expand. The record financial results at MBS reflect the impact of high-quality investment in market-leading product, world-class service and the growth in high-value tourism. The property is extraordinary. It’s the best product in the market in one of the best parts of the world. The offerings are great, and we have a lot of fantastic customers in Asia.
“In Macau, our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macau and support its development as a world center of business and leisure tourism positions us well for future growth. Macau EBITDA was $608m. If we had held as expected in our rolling program, our EBITDA would have been lower by $26m. When adjusted for higher-than-expected hold of the rolling segment, our EBITDA margin for the Macao portfolio of properties would have been 28.9 per cent, down 390 basis points compared to the fourth quarter of 2024. We are focused on delivering revenue and cash flow growth across the portfolio. Margin at the Venetian was 32.3 per cent, while margin at the Londoner was 28.8 per cent. We expect growth in EBITDA as revenue to grow. We will use our scale and product advantages together with targeted incentives to better address every market segment.
Chief Operating Officer for Macau Kwan Chum added: “In Macau, we have been continuously rolling out additional wager options on the baccarat layouts. And we’ve been having progressively more success in attracting volume against those side wagers. The level of participation in the side wagers is not as high as in Singapore, but it is on an increasing trend. And we’ll continue to innovate in terms of offering more fun and interesting side wager options in the traditional game of baccarat, and also other games as well, in terms of additional wager options.
“Macau right now is driven by the premium segments, both in rolling and non-rolling,” he added. “And that’s where we are getting most of our growth. So in terms of the sequential decline in operating margin, firstly, we have higher reinvestment. But on a sequential basis, that’s mostly driven by the segment mix change. So we have more rolling business as a proportion of our total gaming. We invested more on event costs and we had higher payroll as we looked primarily as a result of us increasing our operating table hour capacity.”
The post Marina Bay Sands generates best quarter of EBITDA in casino resort history appeared first on G3 Newswire.
Sands heralds Marina Bay property best in the market Records were once again broken at Marina Bay Sands in Singapore for Las Vegas Sands but there was dissatisfaction in Macau despite strong rolling chip growth and significant property visitation with $608m in EBITDA. In Singapore, Marina Bay Sands brought in Adjusted Property EBITDA of $806m, marking…
The post Marina Bay Sands generates best quarter of EBITDA in casino resort history appeared first on G3 Newswire.