Las Vegas Sands reports consolidated Adjusted Property EBITDA of $1.20 billion

For the three months that ended on December 31, 2023, Las Vegas Sands reported combined Adjusted Property EBITDA of US$1.20 billion.

A record-breaking quarter at Singapore’s Marina Bay Sands (MBS) and the ongoing revival of its Macau operation were the main drivers of the impressive performance.

The quarterly Adjusted Property EBITDA for Marina Bay Sands reached an unprecedented high of US$544 million, double the amount recorded for the same period in 2022 and surpassing the quarter ending in September 2023.

With this, MBS surpasses significantly the quarterly run-rate needed to reach the company’s $2 billion USD annual EBITDA goal. A 51.3% EBITDA margin was also disclosed by MBS.

A subsidiary of Las Vegas Sands, Sands China reported Adjusted Property EBITDA of US$654 million in Macau, up from US$631 million in the previous quarter. Macau operations’ net revenue climbed to $1.86 billion in Q4 2022 from $1.78 billion in Q3 and $444 million in Q4 2022, despite a negative impact of $40 million from low hold in rolling.

Year over year and quarter over quarter, Las Vegas Sands’ total net sales climbed by 161% and 4.3%, respectively. A 152% rise over the prior year, Las Vegas Sands reported net revenues of US$10.4 billion for the fiscal year 2023. While Sands China had revenues of $6.56 billion and adjusted EBITDA of $2.22 billion, Marina Bay Sands recorded sales of $3.85 billion and adjusted EBITDA of $1.86 billion.

Las Vegas Sands Chairman and CEO Robert Goldstein expressed his pleasure with the company’s financial and operational success, noting the ongoing enhancements to the operating conditions in Macau and Singapore.

Due to its commitment to enhancing both business and leisure travel in Macau and Singapore, the firm is well-positioned to benefit from future increases in travel and tourist spending.

In addition, Goldstein highlighted the outstanding performance of Marina Bay Sands and the company’s sound financial standing, which would enable it to pursue opportunities for growth into new markets, make capital expenditures and sustained investments in Macau and Singapore, and distribute profits to shareholders.

Original story by: IAG