The popular Las Vegas Sands published the figures from Q4 of 2023, and the Adjusted Property EBITDA was US$1.20 billion in October, November, and December. The figures were increased partly because of renewed Macau operations, as well as because of the success of Marina Bay Sands in Singapore, which again hit the record when it comes to revenue.
The records are shattered:
Adjusted Property EBITDA at Marina Bay Sands was US$544 million, which broke the all-time records of this casino. EBITDA margin was 51.3%, and the company is positive that this great success was a consequence of the high hold on rolling play, which led to affecting the EBITDA by US$71 million.
Net revenue also hit the record: it was US$1.06 billion, which is an annual increase of 55.6%. The revenue is also 3.9% higher than in the previous quarter. This number included casino revenues, which were US$741 million.
Great results in Macau and Singapore:
When it comes to the company’s revenue in Macau, its subsidiary Sands China generated US$654 million in Adjusted Property EBITDA, which is more than in the previous quarter, when the revenue was US$631 million. The revenue increased despite the low hold in rolling, and because of this, the company lost US$40 million.
Macau reported a net revenue of US$1.86 billion. In the third quarter, the revenue was US$1.78, and in the fourth quarter of 2022, it was only $444 million, so the increase is more than significant.
Group-wide, Las Vegas Sands earned a net revenue of US$2.92 billion, which is a 161% increase compared to the previous year, and 4.3% compared to the previous quarter.
In total, in the financial year 2023, Las Vegas Sands earned net revenue of US$10.4 billion, which is an annual increase of 152%. Net revenue of Marina Bay Sands was US$3.85 billion, while Adjusted EBITDA was US$1.86 billion. Sands China earned a revenue of US$6.56 billion, and Adjusted EBITDA was US$2.22 billion.
As Inside Asian Gaming reports, Robert Goldstein, the CEO and Chairman of Las Vegas Sands, commented: “We were extremely pleased with our financial and operating results for the quarter, which reflect the ongoing improvement in the operating environment in both Macau and Singapore. In Macau, the ongoing recovery across all segments continued during the quarter. Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macau and support its development as a world center of business and leisure tourism positions as well as the ongoing recovery in travel and tourism spending progress.”
He added that the company is happy to support Macau and Singapore properties and invest in them, but also to grow its operations in new markets.