- Marina Bay Sands (MBS)'s 3Q23 net gaming revenue further surged 8% q-o-q to about 126% of pre-pandemic levels, mainly reflecting a strong comeback by the VIP market segment (volume exceeded 2019’s level) and stellar mass market segment (all-time high gaming revenue).
- The strong 3Q23 results were also boosted by higher tourist arrivals from China, elevated by an improvement in scheduled flight seat capacity from China (reaching about 77% of 2019’s level).
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Marina Bay Sands (MBS) reported another strong quarter well above pre-pandemic level.
- Las Vegas Sands’ (LVS) 3Q23 results revealed that Marina Bay Sands’ (MBS) adjusted EBITDA surged about 14% q-o-q to US$491m, the highest quarterly figure since the onset of the COVID-19 pandemic and well exceeding 2019 numbers.
- In 3Q23, MBS’ net gaming revenue improved 7.6% q-o-q and exceeded pre-pandemic levels (about 126% of 3Q19 level).
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- The mass:VIP GGR mix for tables (i.e. excluding slots) stood at 52%:48% in 3Q23 (3Q22: 50%:50%, 2Q23: 60%:40%). 3Q23 EBITDA margin improved 3.6% q-o-q and eased 6.6% y-o-y to 48.4ppt (3Q22: 45.4ppt, 2Q23: 46.7ppt).
Mass market: Sustaining q-o-q growth; reaching another property’s record high.
- Read more at SGinvestors.io.
