Sands CEO targets further SG development and talks premium mass in Macau

Robert Goldstein, CEO of Las Vegas Sands, dubbed Singapore “an outstanding market for additional investment” during the business’ Q2 2022 earnings call, amid discussions of premium customer retention and developments further afield.

Earlier today Sands reported $1.04bn in revenue for the second quarter of 2022, down 10.9% year-on-year as restrictions in Macau hindered its growth. Revenue at its properties in the Special Administrative Region dipped across the board. These locations are currently shut, as the region rides out another wave of Covid-19, and are due to reopen on 23 July.

Conversely, revenue at Las Vegas Sands’ Singapore property, Marina Bay Sands, more than doubled to $679m. The revenue jump at Marina Bay Sands was be mostly attributed to casino revenue, which grew by 124.2% year-on-year. Food and beverage revenue, along with convention, retail and other revenue, also doubled.

Goldstein attributed this strong growth to the loosening of Covid-19 measures in the Singapore, and says he expects further growth if online gambling becomes legal in the country.

Source: https://igamingbusiness.com/sands-on-singapore-premium-mass/