The Singapore market continues to show resilience during the pandemic, Bernstein Research noted in commentary on Las Vegas Sands’ Q4 results.

The firm notes that the slot business at Marina Bay Sands is close to pre-Covid 19 levels, while retail and F&B is also well supported by the local market.

However, for further growth international travel needs to resume, it said.

Bernstein also said that management has indicated that the crisis has delayed the opening of the Phase 2 expansion until 2025.