MBS Rakes in $520M from Apr - Jun 2014

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An honorable member of the Coffee Shop Has Just Posted the Following:

INCREASE IN GAMBLING PROFITS AND HIGHER ROOM PRICES BOOST MBS PROFITS BY 18%

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18 Jul 2014 - 4:59pm








According to the Las Vegas Sands Earning's report, Marina Bay Sands posted a 17.6% increase in profits in the second quarter of this year as gambling profits and room rates increased.
In total, the earnings before interest, taxes, depreciation and amortisation were S$518,7 million for the three months from April to June.
In particular, the casino earned a lot more from high rollers at the casino with win rates increasing to 3.45% from 2.53% the same time last year.
Slot machines also saw an increase in gambling while table games saw between 4.9% and 27.3% decreases in spending.
MBS win rates against non high rollers also improved to 24.8% up from 23.4% last year.
Marina Bay Sands hotel also saw good profits as occupancy rates remained almost full at 99.1% despite room rates increasing 30% to an average of US$409 per night.
Chairman and CEO of Las Vegas Sands, Mr Sheldon Adelson, explained that the Singapore Casino and hotel has value much higher than just its financial performance.
Mr Adelson explained that the site is an "important reference" for other countries looking to build integrated resorts.
He gave an example of Japan where they are looking to start allowing casinos to be built. Currently, Japan has no casinos but seeing the success of Singapore's resorts, they may soon be changing their minds.


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