Singapore, Macau Lift Las Vegas Sands
The Las Vegas Sands in Singapore had much better second quarter earnings and even popped 2% in heavy turnover. This unexpected improvement for the asian casino can be attributed to the recent opening of the Marina Bay Sands property in April last year. The Nomura analysts have stated in their report that these results from Singapore are quite sustainable because the Sands have just begun to build a database of their direct VIP players and their mass-market operations would get a boost from amenities and local attractions that could be opening this year and later on.
The net revenue of the Sand’s Singapore business was $737.6million in the second quarter. This amount represents a third of the Las Vegas –based firm’s total revenue for the period. Most of the Sand’s revenue is being generated from the company’s Macau based property but the percentage contribution from casinos in Las Vegas and Bethlehem Pa has declined again.
Filed under: Asian Casino