Marina Bay Sands Can Improve On Strong Financial Results

Must read

[ad_1]

Posted on: July 23, 2023, 11:50h. 

Last updated on: July 23, 2023, 11:50h.

Marina Bay Sands (MBS) is coming off a quarter in which it generated adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $432 million, but at least one analyst believes the Las Vegas Sands (NYSE: LVS) venue can do even better.

Marina Bay Sands
The Marina Bay Sands casino resort in Singapore at night. An analyst says the venue can post even better EBITDA numbers. (Image: Getty Images)

In a recent note to clients, CBRE Research analyst John DeCree said MBS can continue notching impressive financial performances because Chinese visitation to Singapore is just half what it was prior to the coronavirus pandemic. As that percentage increases, the city-state’s two integrated resorts — Genting’s Resorts World Sentosa is the other — should benefit.

Moreover, ongoing construction disruption on the casino floor is coming to a close and 200 higher quality suites are coming back online, allowing MBS to drive pricing and cater to higher value customers,” wrote DeCree.

Marina Bay Sands, which is LVS’s lone property outside of Macau, is one of the most profitable casinos in the world and vies with Venetian Macau — also a Sands venue — for the top spot.

Marina Bay Sands Has Room to Run

DeCree’s assessment that Marina Bay Sands has upside potential appears to be spot on. On Sands’ recent second-quarter earnings conference call, CFO Patrick Dumont noted the operator is making significant investments at the Singapore casino resort.

Those expenditures include enhancements to Towers 1 and 2. Those improvements haven’t been fully ramped up as of yet and when that happens, it could drive improvement to the property’s margins and EBITDA.

“Our biggest suites, so our 200 multi-day suites are the last to come online. So that’s what’s going to come in this quarter and the next quarter. So the full earnings potential of the renovated Tower 1 and Tower 2 will not really be reached until those suites are online. So we’ve been operating without them,” said Dumont on the call.

With the $432 million in second-quarter EBITDA, MBS is on track to reach Sands’ goal of $2 billion in annual EBITDA this year. Gross gaming revenue (GGR) derived from mass market bettors was $580 million in the June quarter – a 36% jump from the same period in 2019.

Sands Bullish on Singapore

While Las Vegas Sands is often viewed as a Macau story, there’s no denying the importance of MBS to the overall investment thesis. Nor is there denying the operator’s commitment to Singapore. Dumont noted Sands has “very strong feelings about the future success of” the city-state.

The market’s “changed for the better. We’re investing a lot and we’re creating what is arguably the best product we ever had. And the customer response is very strong, but we’re mid-flight in that,” he added.

Marina Bay Sands is an essential part of Singapore’s business and leisure travel industries and Sands benefits from its presence there. Last year, the city ranked ninth in the world in terms of tourism spending, according to the World Travel and Tourism Council (WTTC).

[ad_2]

Source link

More articles

Latest article

Temukan Trik Auto Jp Mahjong Wins 3 Di Koi800.php Bocoran Spin Pola Gacor Mahjong Wins 3 Koi800 Viral.php Modal 20rb Jadi 2jt Di Koi800 Pakai Mahjong Wins 3.php Pola Gila Mahjong Wins 3 Koi800 Bonus Scatter Beruntun.php Mahjong Wins 3 Bikin Koi800 Meledak Hari Ini Cek Pola.php Tampilan Super Modern Dan Reward Fantastis Mahjong Wins 3 Siap Gebrak Bomjitu.php Eksklusif Di Bomjitu Mahjong Ways 3 Hadir Dengan Bonus Dan Visual Mewah.php Revolusi Grafik Dan Kejutan Reward Di Mahjong Wins 3 Hanya Di Bomjitu.php Mainkan Mahjong Ways 3 Di Bomjitu Dan Rasakan Sensasi Hadiah Tanpa Batas.php Mahjong Wins 3 Bawa Tampilan Berkelas Dan Bonus Lebih Hebat Ke Bomjitu.php Ibu Warsih Pedagang Keliling Di Tukdana Menang Mahjong Ways 2 Jam Ganjil.php Pak Darmin Petani Pasekan Berhasil Kumpulkan Rp220 Juta Lewat Mahjong.php Ibu Nanik Jatibarang Main Mahjong Ways 2 Sambil Jaga Anak Langsung Menang.php Pemuda Balongan Dapat Hoki Tengah Malam Berkat Simbol Emas Mahjong.php Ibu Murni Kroya Menang Rp143 Juta Setelah Spin Mahjong Ways 2 Jam 03 21.php Pembaca Doa Tahlilan Kampung Pamekasan Merinding Saat Pola Mahjong Ways Terlintas.php Penjahit Payung Kertas Di Banyumas Lihat Cahaya Mahjong Ways Saat Lagu Lama Diputar.php Penyulam Selendang Dari Kampung Cianjur Lihat Simbol Aneh Saat Main Mahjong Ways 2.php Pengetuk Kentongan Subuh Di Sragen Kaget Karena Pola Mahjong Ways 2 Muncul Lagi.php Pemahat Nisan Di Kampung Weleri Lihat Tanda Pola Mahjong Wins 1 Saat Malam Kliwon.php Kisah Si Bocah Hoki Yang Menemukan Mahjong Ways Legendaris Di Bomjitu.php Rahasia Nenek Si Magic Tile Bikin Cucunya Kaya Di Bomjitu Berkat Mahjong.php Petualangan Di Negeri Mahjong Wins3 Dan Keajaiban Bomjitu.php Legenda Mahjong Ways2 Emas Yang Hanya Muncul Di Bomjitu.php Mahluk Mitos Penjaga Jackpot Mahjong Ways Ditemukan Di Bomjitu.php Dongeng Anak Desa Yang Menang Mahjong Ways Dan Jadi Sultan Bomjitu.php Kitab Rahasia Mahjong Ways Dibuka Kembali Di Istana Bomjitu.php Kisah Si Jago Mancing Jackpot Di Lautan Mahjong Ways Bomjitu.php Dongeng Mahjong Ways Sakti Dan Kunci Keberuntungan Di Bomjitu.php Si Gadis Mahjong Ways Dan Burung Percaya Diri Dari Bomjitu.php Penembang Mocopat Di Bantul Lihat Susunan Mahjong Wins 1 Seperti Larik Pantun.php Pengantar Air Pakai Gerobak Di Cilincing Mendadak Paham Pola Mahjong Wins 1.php Pengatur Lampu Panggung Hajatan Di Ngawi Lihat Pola Mahjong Wins 1 Saat Lampu Violet Pencetak Kerupuk Rumahan Di Bondowoso Curiga Kejadian Mahjong Wins 1 Ulang Terus Penjilid Rapalan Tua Di Pekalongan Mendadak Ingat Masa Lalu Saat Lihat Mahjong Ways 2.php Pengangkut Batu Sungai Di Buleleng Lihat Cahaya Mahjong Ways 2 Saat Lumpur Terbelah.php Pemintal Bulu Angsa Di Garut Lihat Susunan Pola Mahjong Ways Saat Matahari Miring.php Pengasah Pedang Reog Di Ponorogo Curiga Mahjong Ways Tiru Irama Gendang Kuno.php Penyulam Nama Anak Di Kampung Sinjai Lihat Pola Ajaib Pg Soft Dari Benang Kusut.php Penyeka Lensa Kamera Di Studio Natal Curiga Warna Pg Soft Muncul Saat Lampu Vintage.php Ibu Karsih Pedagang Di Cikedung Menang Mahjong Ways 2 Dini Hari.php Pak Wiryo Pensiunan Pasekan Dapat Rp215 Juta Lewat Mahjong Ways 2.php Ibu Ranti Lohbener Dapat Keberuntungan Subuh Dari Mahjong Ways 2.php Anak Kos Kroya Bayar Kontrakan Lewat Kemenangan Mahjong Ways 2.php Pak Usman Petani Juntinyuat Bisa Renovasi Dapur Karena Mahjong.php Ibu Meti Gabuswetan Menang Rp180 Juta Karena Multiplier Besar Mahjong.php Mahasiswa Jatibarang Main Mahjong Ways 2 Tengah Malam Langsung Jp.php Pak Rusdi Penarik Gerobak Di Sliyeg Dapat Rezeki Digital Mahjong.php Ibu Rahmi Pkl Tukdana Kaget Lihat Saldo Tembus Rp160 Juta Mahjong.php Pak Joko Balongan Menang Besar Berkat Simbol Emas Mahjong Ways 2.php Penyetrika Seragam Anak Di Sukabumi Lupa Waktu Karena Irama Mahjong Ways 2.php Penjual Kerupuk Kulit Pagi Butadi Gresik Dibuat Terpaku Oleh Mahjong Ways 2.php Kakek Penjual Es Serut Di Cilacap Tersenyum Lebar Setelah Kenal Pg Soft.php Penjahit Jas Sepuh Di Bekasi Buka Cerita Langka Bareng Anaknya Soal Pg Soft.php Penjilid Buku Senja Di Klaten Tiba Tiba Diingatkan Soal Scatter Hitam.php Buruh Cuci Piring Lombok Utara Beri Sinyal Aneh Saat Scatter Hitam Muncul.php Pemintal Benang Tua Di Purworejo Temukan Irama Kemenangan Dari Mahjong.php Remaja Pengantar Es Krim Pagi Hari Di Pamulang Memahami Alur Mahjong.php Penjahit Rumahan Di Madiun Bongkar Momen Keberuntungan Lewat Mahjong Ways 2.php Penjual Pita Parkiran Pasar Subuh Merasakan Polanya Mahjong Ways 2.php