Good Morning. Sands China has come roaring back to life in the first quarter, delivering EBITDA of $398 million, even as LVS’ Chairman says its $3.8 billion Macau investment is “just a baseline”. In Singapore, MBS’ EBITDA was just shy of the Macau results, despite ‘subdued’ visitation from China. In Australia, The Star is laying off 500 people and freezing pay as its regulatory woes continue. And in the Philippines, Newport World Resorts saw a 90 percent rise in GGR in 2022.
What you need to know
- Sands China slashes loss, sees EBITDA skyrocket to $398 million, despite 31 percent of rooms being offline.
- Marina Bay Sands nearly tops LVS’s Macau EBITDA levels, as mass revenues reach an all-time high.
- The Star’s regulatory woes continue, seeking to cut costs by laying off 500 employees and freezing salaries.
- Newport World Resorts saw a 90 percent increase in GGR in 2022, as all gaming segments improved.
On the radar
- DigiPlus: 217 percent FY23 revenue rise, EBITDA returns to black.
- Over 19 million visas issued for Macau, Hong Kong, and Taiwan.
- Macau CE applauds 12 foreigner-only gaming zones.
- Australia continues crackdown on illegal offshore gambling sites.
- Exploring market opportunities in Asia: PopOK’s Tsovinar Elchyan.
AGB Intelligence
MACAU
Sands China EBITDA at $398 million, 31% of rooms offline
Las Vegas Sands’ Macau operations rose from the ashes in the first quarter, delivering $398 million in EBITDA, even as 31 percent of room supply remained offline – set to ramp up into the third quarter. The group’s Chairman says that the $3.8 billion investment is just the beginning, and it will inject more “in this extraordinary market”.
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