Strong greenback chips away at Marina Bay Sands' earnings in Q1

Win percentage also took a hit.

Marina Bay Sands reported sharply lower revenues in the first quarter, with core earnings down 33.8% year-on-year to US$274.9 million.

According to UOB Kay Hian, the sharp revenue drop was on back of an unusually low win percentage and the strong US dollar. Mass-market gross gaming revenue rose 7.9% year-on-year, lower than initial guidance of a 9.8% year-on-year improvement, presumably due to different average S$/US$ exchange reate assumptions.

Meanwhile, VIP rolling chip volume slipped 1.4% year-on-year. VIP gross gaming revenue contributed less than 40% of total gaming earnings in Q1, the first time since MBS commenced operations.

"While hold-normalised EBITDA rose 10% yoy in Singapore dollars, driven by mass market’s strong non-rolling chip win and slot handle, table gaming volume was unimpressive for the VIP and mass segments. In our view, this set of results is slightly positive for [Genting] which should benefit from a modestly growing mass market GGR,” said UOB Kay Hian.

Also Read

Citadines Connect City Centre seeks to offset booking woes with TA Network deal

Changi Airport Group selects OUE for Hotel Indigo development

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit