Latest news with #RobertG.Goldstein
Straits Times
24-07-2025
- Business
- Straits Times
Marina Bay Sands sees record second quarter with revenue up 37% to $1.77 billion
Find out what's new on ST website and app. Parent company Las Vegas Sands drew down $1.13 billion on a loan facility to help fund its US$8 billion Singapore expansion. SINGAPORE - Casino and hotel operator Marina Bay Sands (MBS) enjoyed a record second quarter performance with net revenue surging 37 per cent to US$1.39 billion (S$1.77 billion) from US$1.02 billion a year earlier. This sent its adjusted property earnings before interest, taxes, depreciation and amortisation (Ebitda) for the three months to June up 50 per cent to US$768 million from US$512 million. Robert G. Goldstein, chairman and chief executive office of parent company, Las Vegas Sands (LVS), said that MBS delivered 'record financial and operating performance'. 'Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia expands.' MBS casino revenue rose significantly, climbing 51.3 per cent to US$1.1 billion from US$706 million in the year-ago period. Rolling chip volume was up 47.2 per cent to US$8.9 billion from US$6.1 billion. Hotel revenue for the quarter grew 8 per cent to US$134 million, although hotel occupancy dipped to 95 per cent from 95.3 per cent. The average daily room rate rose 11.4 per cent to US$888, lifting revenue per available room of US$844 compared to US$759 in the second quarter of 2024. The strength of its Singapore and Macau casinos lifted parent LVS' earnings by 15 per cent to US$3.18 billion, beating analyst forecasts for US$2.83 billion per data compiled by LSEG. LVD also disclosed that it drew down $1.13 billion on a Singapore loan facility to fund the payment for the land premium on its US$8 billion Singapore expansion. The new mega complex will comprise 570 luxury hotel suites, a casino, a 15,000-seat entertainment arena, 200,000 sq ft of meeting and convention space, and high-end restaurants. It is set to be completed by 2030 and to open in the first quarter of 2031. Mr Goldstein said, 'We remain enthusiastic about our opportunities to deliver industry-leading growth in both Macao and Singapore as we realise the benefits from our recently completed capital investment programmes in both markets.' LVS spent US$129 million on construction, development and maintenance at MBS in the second quarter. For the first half year, MBS' net revenue rose 17.3 per cent to US$2.55 billion, from US$2.17 billion for the same period in 2024. This sent Ebitda up 23.8 per cent to US$1.37 billion.
Yahoo
05-04-2025
- Business
- Yahoo
Las Vegas Sands (NYSE:LVS) Faces 13% Weekly Price Drop As CEO Transition Looms
Las Vegas Sands saw its share price decline 13% over the past week amid significant leadership transitions, including the appointment of Muktesh Micky Pant to the board and impending changes in the CEO role. While these corporate dynamics unfolded, broader market turmoil from escalating global trade tensions exacerbated the decline. The Dow, S&P, and Nasdaq all experienced steep losses, with drops of 8%, 9%, and 10% respectively, as tariffs unsettled investor sentiment. The concurrent market and company-specific events likely influenced the sharp decline in LVS's share price during this turbulent period. Las Vegas Sands has 2 weaknesses we think you should know about. This technology could replace computers: discover the 21 stocks are working to make quantum computing a reality. Over the past three years, Las Vegas Sands has experienced a total return decline of 4.27%, indicating challenges despite industry potential. Notably, this return underperformed the US market and the hospitality industry over the past year. Several factors may have influenced this performance. First, the completion of The Londoner in 2025 is anticipated to improve competitive standing in Macao. However, operational challenges prior to full capacity utilization may have weighed on margins. Additionally, the consistent reliance on the Chinese economy introduces some risk, especially given fluctuating market conditions and the potential impact on revenue growth. The company continued its capital returns focus, with active buyback initiatives and dividend announcements. A US$449.96 million repurchase of shares between October and December 2024 highlights this commitment. Despite robust earnings growth, as seen in the fourth quarter of 2024, these measures did not offset market concerns fully. Moreover, executive changes, including appointments like Muktesh Micky Pant and internal shifts with Robert G. Goldstein, might have impacted investor confidence, contributing to the share price performance. Review our historical performance report to gain insights into Las Vegas Sands' track record. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:LVS. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
