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Las Vegas Sands Reports Strong EBITDA of $605M for Marina Bay Sands Amid Singapore Growth Surge
ByAinvest
Wednesday, Apr 23, 2025 8:30 pm ET1min read
Las Vegas Sands reported EBITDA of $605M for Marina Bay Sands, driven by a surge in growth in Singapore. The company's earnings call highlighted the success of its Singapore operations, with revenue increasing by 68% year-over-year. The strong performance was attributed to the easing of COVID-19 restrictions and increased travel demand.
Las Vegas Sands (LVS) reported robust financial results for the first quarter of 2025, with net revenue of $2.86 billion and net income of $408 million. The company's Marina Bay Sands (MBS) in Singapore contributed significantly to this performance, reporting an Adjusted Property EBITDA of $605 million, a 68% year-over-year increase. This surge in growth was attributed to the easing of COVID-19 restrictions and increased travel demand in the region [1].The company's overall Adjusted Property EBITDA for the quarter was $1.14 billion, a 5.7% decrease from the prior year quarter. The decline was primarily due to a low hold on rolling play in Macao, which negatively impacted Adjusted Property EBITDA by $10 million [1].
In Macao, the company's Sands China Ltd. (SCL) reported a 5.7% decrease in total net revenues to $1.70 billion, and a net income of $202 million, compared to the first quarter of 2024 [1].
Las Vegas Sands also continued its share repurchase program, repurchasing $450 million of common stock during the quarter. The company's Board of Directors subsequently increased the stock repurchase authorization to $2.0 billion [1].
The company's strong financial position is evident in its unrestricted cash balances of $3.04 billion and access to $4.44 billion available for borrowing under its U.S., SCL, and Singapore revolving credit facilities [1].
Looking ahead, Las Vegas Sands remains optimistic about its growth prospects in both Macao and Singapore, with the company's chairman and CEO, Robert G. Goldstein, noting that the company is well-positioned for future growth in these markets [1].
References:
[1] Las Vegas Sands Reports First-Quarter 2025 Results. (2025, April 23). PRNewswire. Retrieved from https://www.marketscreener.com/quote/stock/LAS-VEGAS-SANDS-CORP-13442/news/Las-Vegas-Sands-Reports-First-Quarter-2025-Results-49694325/
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