Marina Bay Sands Pte Ltd. operates a business, leisure, and entertainment destination in Singapore. It features hotel rooms and suites, a shopping mall, a lotus-inspired museum, a rooftop pool, spa services, retail stores featuring labels and international luxury brands, celebrity chef restaurants, an outdoor event plaza, theatres, night clubs, and a Las Vegas-style casino. The company also offers meetings, incentives, conventions, and exhibitions facilities for business visitors. Marina Bay Sands Pte Ltd. was formerly known as Sands Garden City Pte. Ltd. The company was founded in 2005 and is based in Singapore. Marina Bay Sands Pte Ltd. operates as a subsidiary of Las Vegas Sands Corp.
The entry fee increase for local Singaporeans is weighing on Marina Bay Sands’ mass market, with some citizens unlikely to renew their annual passes when they expire.
Las Vegas Sands has $5 billion in development projects in the pipeline in Asia over the next few years, Chairman and CEO Sheldon Adelson said.
A former Chinese gambler at Marina Bay Sands is suing the casino for allegedly transferring funds from his casino deposit accounts without his authorization, Bloomberg reports. Wang Xi discovered in July that S$9.1 million (US$6.6 million) was missing from his account as a result of 22 transfers made between October and December 2015. Wang said […]
Fines paid by Singapore’s two casino operators amounted to $$745,000 ($540,000) in the 2018 financial year, with the lion’s share extracted from Genting Singapore’s Resorts World Sentosa.
Casino operator Las Vegas Sands Corp on Wednesday announced it has secured a new delayed draw term loan facility in aggregate principal amount of up to S$3.75 billion (US$2.7 billion). According to an SEC filing, the loan will be used to finance project costs associated with the expansion project for Marina Bay Sands pursuant to […]
Previewing the kind of facility which may eventually be available in Japanese IRs, Marina Bay Sands in Singapore has opened a luxury Japanese restaurant called KOMA, which has a capacity to host over three hundred people.
Marina Bay Sands has dropped a case in which it sought to recover $10 million in gambling debts from an elusive Australian-Chinese business tycoon, local media reports.
Marina Bay Sands and Genting Singapore will pay fair market value for the land they have been allocated as part of a S$9 billion ($6.65 billion) expansion of their properties in Singapore, local media reports.
Singaporean citizens and permanent residents have paid about S$1.3 billion in casino entry fees since the island state’s two IRs opened in 2010, local media reports.
The Singapore government is seen as the main winner in the agreement to allow a $9 billion expansion of the island’s two integrated resorts, gaining more tax and higher money from entry fees, according to analysts. Morgan Stanley downgraded Genting Singapore to equal weight after the announcement, saying that the company will suffer near-term pain, […]
Singapore has allowed the first major expansion of its integrated resort industry since its two IRs began operating, involving S$9 billion ($6.65 billion) new investment in non-gaming amenities, but casino entry fees and taxes will also rise. In a statement on Wednesday, the Ministry of Trade and Industry and the Ministry of Finance said the […]
Singapore raked in $2.7 billion ($1.99 billion) in betting taxes in the 2017/2018 financial year, unchanged from the year earlier.
One of the unintended effects of the opening of IRs in Japan in the mid-2020s may be to force the Japanese government to allow more foreign workers into the country, the Sankei Shinbun pointed out this weekend. Looking at the example of Marina Bay Sands in Singapore, the Sankei quotes President and CEO George Tanasijevich […]
Marina Bay Sands has announced the implementation of a two-day ‘learning leave’ initiative for its workforce. The initiative is believed to be a first in the hospitality industry, a scheme which allows all full-time staff to take paid leave to attend courses related to language, communication, service excellence and information technology. MBS said it has […]
Marina Bay Sands is bringing one of the world’s top nightclub brands to Singapore next year, becoming the latest of the region’s major IRs to add clubbing to the entertainment mix in the hope of duplicating the success of Las Vegas’ vibrant night scene. The property, which is owned by Las Vegas Sands, is teaming […]
Nightclub brand Marquee will make its Asian debut at Marina Bay Sands in Singapore as part of a series of new initiatives designed to boost the resort as a nightlife destination.
George Tanasijevich, managing director of global development at Las Vegas Sands, recently presented a survey in central Tokyo, which for the first time, indicated that a majority of the Japanese public supports the establishment of IRs in their nation—at least when the question is asked in a particularly leading manner. The survey, conducted by the […]
Sands China’s Q4 results beat analysts’ expectations, driven by strong premium mass revenue in Macau. Total net revenues for Sands China increased 12.9 percent to US$2.10 billion compared to US$1.86 billion in the fourth quarter of 2016 and above The Street estimate for $1.94 billion. Net income increased 49.1 percent to US$519 million, while hold-normalized […]
Marina Bay Sands (MBS) posted solid earnings in the third quarter of 2017, boosted by both mass and VIP revenue. Net revenue rose 4.1 percent year-on-year to US$793 million, while casino revenue increased 6.3 percent. Adjusted property EBITDA increased 13 percent to $442 million. “Marina Bay Sands’ innovative programming, mass gaming play and non-gaming revenues […]
Property EBITDA for Genting Singapore in the second quarter of 2017 is forecast to reach S$270 million (US$198.7 million), according to estimates from Morgan Stanley. The result would be a 119 percent year-on-year increase from the second quarter of 2016, and a 6 percent decline quarter-on-quarter. “While Genting Singapore remains cautious on granting credits, we […]
A dealer who was caught in February for misappropriating S$34,000 (US$24,600) worth of casino chips at Marina Bay Sands (MBS) has been sentenced to nine months’ jail on Tuesday, local media reports. Tan Hong Khee, a Malaysian who had been working at MBS since April 2015, was found to have misappropriated $1000-denomination chips from the […]
The man behind Singapore’s biggest counterfeit casino chip scam has been sentenced to seven years and four months jail, local media reports. In late 2015, Toh Hock Thiam and his two accomplices managed to scam a total of $1.291 million through the use of 1,291 counterfeit chips at Marina Bay Sands. Eight days after running […]
Las Vegas Sands President and Chief Operating Officer Rob Goldstein says Macau needs more hotel rooms to fully benefit from the potential of the mass market. In a “fireside chat” with Bernstein analysts at their Strategic Decisions Conference, Goldstein said even with the opening of MGM China Holdings’ and SJM Holdings’ two new Cotai resorts […]
A Singapore court has convicted and jailed a third man involved in a scam last year to cheat the Marina Bay Sands of $19,700 ($14,000). Student Li Zhifan, 25, a Chinese national, admitted to 20 charges of colluding mostly with Jiang Kaiwan, 24, then a dealer with MBS’ casino, to get money from playing Baccarat […]
An integrated resort in Japan could cost up to US$10 billion to develop, says Las Vegas Sands chief Sheldon Adelson. Adelson, who has plans for his company to win operating rights in the country, made the comments during an investor conference in Tokyo, according to a report from Reuters. “It would be at least what […]
Las Vegas Sands subsidiary Marina Bay Sands is looking to sell 49 percent of its stake in luxury mall, the Shoppes for US$3 billion to US$3.5 billion, local media reports. The sale would mark one of the most expensive malls ever sold in the world, said LVS chairman and chief executive Sheldon Adelson in an […]
Las Vegas Sands posted Q3 results that topped analysts’ forecasts as the Macau market returned to growth. Earnings for the quarter were at $0.72 per share, well above the estimated $0.60 per share and earnings from the same period last year of $0.66 per share. Revenue beat analysts’ expectations as well at $2.97 billion versus […]
The arrests of Crown Resorts staff in China underscores the risk associated with global casino operators’ Chinese VIP business, said Fitch Ratings in a note on Wednesday. “The detainment is a sign to Fitch that high roller gambling by the Chinese nationals outside of China remains top of mind for Chinese authorities,” said the ratings […]
A former dealer with Marina Bay Sands in Singapore was jailed for eight months and 12 weeks for fraud, which involved misappropriating casino chips from the gaming tables. Jiang Kaiwen, 24, a Singaporean, took $118,000 worth of casino cash chips entrusted to him when he was working at MBS between March 1 and May 3 […]
UBS analysts are lowering their Singapore GGR estimate by 16 to 17 percent, mainly due to weaker VIP trends. In a note on Tuesday, the brokerage said they are expecting gaming revenue to decline 12 percent this year, and expects the Singapore VIP gaming market to decline 29 percent in 2016, while mass revenue is […]
Las Vegas Sands Corp. is willing to invest between 5 to 12 trillion won ($4.5 billion to $10.8 billion) in a casino resort in Busan if “investment conditions are met”, said George Tanasijevich, CEO of Marina Bay Sands in an interview with Korea Economic Daily. “The best location for Sands Group to invest in is […]
Six suspects who were allegedly planning a rocket attack on the Marina Bay Sands resort were arrested in a raid on Friday morning, reports CNN. According to Indonesian National Police spokesperson Boy Rafli, the local terror group called Katibah Gigih Rahmat were ordered to attack Singapore by Bahrun Naim, an Indonesian now believed to be […]
Casino operator Genting Singapore’s net loss narrowed in the second quarter of 2016, as expenses and finance costs fell. According to its filing to the Singapore Stock Exchange, for the three months ended June 30, 2016, net loss was S$10 million (US$7.8 million) compared to a loss of S$16.9 million in the same period in […]
Union Gaming analysts have lowered their 16Q2 estimates for Genting Singapore after reviewing 16Q2 gaming trends via Las Vegas Sands’ Marina Bay Sands results. “We have adjusted our gaming expectations for RWS downward to reflect similar trends as MBS. Our VIP volume expectations go to -30 percent year-on-year (from -26 percent) and our mass / […]
Las Vegas Sands says it is looking to add another 1,000-1,200 rooms in a new tower at its Marina Bay Sands resort in Singapore, along with an entertainment arena. “The government wants more quality entertainment,” said Adelson during the Bernstein Thirty Second Annual Strategic Decisions Conference 2016. According to the Sands chairman, the Singapore government […]
A group of three men and three women have been arrested for cheating in the Marina Bay Sands and Resorts World Sentosa casinos in Singapore, local media reports. The six, ranging from 33 and 41 years of age were suspected of cheating using electronic devices while betting at the machines. The police were first alerted […]
Las Vegas Sands Corp’s Marina Bay Sands resorts has had its casino license renewed for the next three years, local media reports. The renewal will take effect from Tuesday, April 26. In February, Genting Singapore had its license renewed for three years. Earlier this year, Forbes reported the Las Vegas Sands’ Singapore operation will see […]
Las Vegas Sands Corp. chairman and CEO says he’s considering selling Marina Bay Sands’ retail assets after a government-imposed moratorium expires next year, Bloomberg reports. Sheldon Adelson in a conference call after LVS announced its first quarter results said the company had been speaking with potential buyers about the retail assets. “We have been approached. […]
Macau casino operator Sands China Ltd reported 16Q1 profit fell 9.6 percent year on year, the result of a challenging operating environment in Macau. The results, which were below analyst expectations, saw total net revenue for Sands China down 7.9 percent to $1.6 billion in the first quarter of 2016, compared to $1.8 billion the […]
Las Vegas Sands Corp. says it will push its plan to build its proposed $10 billion casino resort in South Korea, according to an interview with George Tanasijevich, managing director of Global Development for Las Vegas Sands Corp. Tanasijevich, who is also the CEO of Marina Bay Sands spoke with Korea Times in an interview, […]
A Malaysian man has been arrested for his suspected involvement in a case related to counterfeit casino chips ,which was first reported in 2011, local media reports. The case was opened in August 2011, when police commenced investigations on suspected counterfeit casino chips being used at the Marina Bay Sands casino in Singapore. Four suspects […]
A 24-year-old Malaysian man who was arrested for stealing almost SG$1 million worth of casino chips, along with car keys and cash, has been sentenced to 48 months’ jail, local media reports. Yeoh Jackson, pleaded guilty to stealing a S$1,000 Zegna clutch bag, cash of S$9,100, Marina Bay Sands Casino Paiza chips worth S$900,000, a […]
A Singaporean man was charged over the weekend for the possession and use of counterfeit casino chips, which were allegedly used at the Marina Bay Sands, according to local media. Toh Hock Thiam, believed to be the leader of a syndicate responsible for counterfeit casino chips in Singapore, was arrested in Malaysia on Dec 31. […]
The outlook for the gaming industries in Singapore and Malaysia remains stable despite challenging economic conditions, Fitch Ratings says in a report. The three companies — Genting Bhd, Genting Singapore and Marina Bay Sands, all have robust operating cash flows. The Genting companies maintain a net cash position, while MBS has been deleveraging, it says. […]
Las Vegas Sands’ Singapore operation will see modest but consistent growth over the next few years, Forbes reports. The Singapore operation has benefited from the decline seen in Macau over the last few quarters, with a 20 percent surge in visitors from China to Singapore in 2015. Until Macau sees some recovery, Las Vegas Sands’ […]
Genting Singapore reported weaker-than-anticipated results in 15Q3 as it lost market share to rival Marina Bay Sands. GGR was S$659 million ($464.7 million), representing a year-on-year decline of 19 percent, although an improvement of 2 percent quarter-on-quarter. VIP GGR declined by 29 percent YoY to S$252 million, principally due to low hold in 15Q2. According […]
Las Vegas Sands 3Q earnings declined due to a 46-percent drop in profit at its Macau unit, though the figure was better than expected and Singapore proved a bright spot. Adjusted net income decreased to $529.8 million, or $0.66 per diluted share, compared to $675.7 million, or $0.84 per diluted share, in the third quarter […]
UBS has revised down its gross gaming revenue estimates for Singapore, expecting GGR to drop 11 percent year-on-year compared with 5 percent, due to weaker VIP trends. In a note, UBS analyst Robin Farley said the Singapore VIP gaming market is expected to decline 26 percent in 2015 compared with expectations of a 16 percent […]
Morgan Stanley Research expects Genting Singapore to report 15Q2 earnings before interest, tax, depreciation and amortization (EBITDA) of S$235 million ($171.6 million), down 24 percent year on year. In a note, a team of analysts said Marina Bay Sands reported a 9 percent QoQ increase in the mass segment in Singapore dollars terms, even though […]
Marina Bay Sands’ EBITDA came in at $363.3 million in 15Q2, a 13 percent decline year-on-year, driven by a VIP win rate of 2.78 percent. Maybank analyst Kim Eng said MBS’ 15Q2 EBITDA was a good indicator of its future quarterly EBITDA and that the property is showing signs of stabilization. MBS’ VIP volume was […]
Marina Bay Sands in Singapore is interested in running a casino and convention complex in Thailand, local Thai media reported. Krist Boo, vice president for communications, said the resort would be on a par with the Singapore property, The Nation reported. “We want to invest in Thailand if we are given permission. It must be […]
Sands China Ltd. has announced a new professional development programme for its dealers that would give up to 100 dealers a chance to spend 12 months on secondment at Marina Bay Sands in Singapore. Sands China said in a press release that the voluntary programme provides dealers with overseas experience and will broaden their career […]
Singapore’s Marina Bay Sands took the top prize in the first All Asia Dealers Championship held at G2E Asia in Macau, beating 15 teams to win the All-Asia team award after 3 days of stiff competition. Judged in baccarat, blackjack and roulette, the team scored high marks in all areas which included technical skills, guest […]
At press conference held on Tuesday May 12, 2015 in Macau, the All Asia Dealers Championship (AADC), taking place concurrently with G2E Asia 2015 and hosted by Asia Gaming Brief and Reed Exhibitions, announced the details of the competition. In all, fourteen teams, totaling over 50 Dealers, from Macau and across Asia have already confirmed […]
Singapore won’t open its casino market to new entrants when the current duopoly expires in 2017, local media cited Senior Minister of State for Trade and Industry Lee Yi Shyan as saying. The government will instead focus on working with the two Integrated Resorts (IRs) to ensure their attractions and services continue to meet the […]
Marina Bay Sands Singapore is among the regional properties participating in the All Asia Dealers Championship.
Maybank Kim Eng has downgraded its rating for Genting Singapore from Buy to Hold following the company’s share price rallying 13 percent since March and on the possibility the company lost some of its VIP clients to rival Marina Bay sands. The research company said MBS, whose first quarter EBITDA dipped 5 percent to $415.3 […]
Las Vegas Sands reported weaker-than-expected Q1 profit and revenue, pulled down by a slump in its Macau gaming operations. Group net revenue for the first quarter of 2015 decreased 24.9 percent to $3.01 billion, missing forecasts for $3.2 billion, according to analysts polled by Capital IQ. Adjusted net income decreased to $531.1 million, or $0.66 […]
Visitor numbers to Singapore dropped 3.1 percent to 15.1 million last year, the steepest decline since the global financial crisis. The biggest drop in overall arrivals came from Indonesia, the biggest market last year, which fell 2 percent to 3 million as the rupiah depreciated. The number of travellers from China fell 24 percent to […]
Singapore gamblers spend close to $8 billion a year on horse racing, pools and other games, outstripping the combined earnings of the city state’s two casinos. Punters spent $7.89 on games run by Singapore Pools and Singapore Turf Club during the financial year ending March last year, while the combined gross gaming revenue for the […]
Singapore’s regulatory authority has imposed a fine on Las Vegas Sands’ Marina Bay Sands property and censored Genting Singapore’s Resorts World Genting for breaches of regulations relating to locals gambling. The Casino Regulatory Authority fined Marina Bay Sands $65,000 ($48,000) and issued two letters of censure to Resorts World Sentosa. The breaches had been reported […]
Hong Kong businessman Cheung Che-kin is suing Las Vegas Sands’ Marina Bay Sands for damages alleging he lost money after the casino stopped him gambling using pooled chips, according to media reports. Cheung claims the Singapore casino prevented him from taking over a baccarat game with a friend. MBS has denied the claims and launched […]
Marina Bay Sands has filed a lawsuit in the High Court of Hong Kong against Chen Huaide, an executive director of China For You Group over debts of about HK$23 million ($2.9 million). A charging order may have been made restraining Chen from transferring certain shares of certain companies on Jan. 7th, the company said […]
The hike in the casino entrance fee for local Singaporeans is further deterring already declining visitation to the island state’s two integrated resorts by residents, analysts said.
As concern mounts about the global environment, many of Asia’s giant IRs are taking significant steps to minimise their impact, investing heavily in green technologies and other waste control initiatives.
Singapore’s two integrated resorts will cast a longer reflection on the island state but new shadows cloud the horizon across the southern shoreline.
Singapore tourism arrivals are up just over 7 percent in the year to July, but a closer look at the detailed breakdown provided for Q1 shows that for the second consecutive quarter, visitors spent more on gaming, sightseeing and entertainment than in its glitzy shopping malls.
Singapore’s two gaming operators reported an improvement in Q2 results, helped by cost controls, lower bad debts and higher premium play, though analysts see few catalysts for significant expansion of the market. In 2007, Singapore granted Las Vegas Sands and Genting Singapore a license for one resort each, with exclusivity until 2017. Those licenses were renewed in 2016 for a further three years, but the government is not expected to allow any new entrants, therefore keeping a lid on the size of the island-state’s gaming market.
The dramatic slump in Asia’s VIP revenue over the past two years has forced operators to trim costs and diversify income sources to plug the gap. While much of the focus has been on boosting non-gaming and tapping into the mass market, companies have also been looking at ways of unlocking shareholder value through monetizing extensive fixed assets. From real estate spinoffs, to timeshares and outright sales, many options are being considered.
Singapore’s two operators are seeking to add more non-gaming attractions to boost growth as income from their casinos continues to drag, with results released this week showing an unexpected drop in mass revenue at Marina Bay Sands. Casino revenue for the quarter fell 1.6 percent to $556.7 million, with adjusted property EBITDA dropping 1.7 percent to $357 million. The property reported a drop of 29 percent in its rolling chip volume, but more unexpected was the almost 11 percent drop in mass market volume year-on-year. Slot handle gained 6 percent.
Genting Singapore, whose 2015 profit plunged by 70 percent to S$193.1 million ($138 million), is expected to suffer more pain ahead as it struggles to reposition the brand and recover from prior lending policies. Singapore’s two casinos have both been at pains to find catalysts for growth, with the highly regulated market offering little room for further expansion. However, Resorts World Sentosa appears to be slipping further behind its rival Marina Bay Sands. We take a look at views for its prospects.
In a region traditionally dominated by table games there are signs that a new generation of slots can make an impact, as long as suppliers understand how to take a tailored approachThe emergence of skill-based slots and a better understanding of how to tailor machines to local markets is presenting manufacturers and operators with the opportunity to challenge the dominance of the table game in Asian casinos and attract a new type of player.
Integrated resorts have become a buzzword in the gaming industry, with investors and governments around Asia looking to the model as they prepare plans for new markets and properties. However, as gambling revenue in Asia's biggest resorts declines is the IR model the right formula for success?
With Macau gambling revenue falling for the 12th straight month in June and new multi-billion dollar casinos set to double capacity in the territory, it has become more important than ever for operators to find a way to stand out from the crowd -- but does it have to break the budget? Kevin Clayton, chief marketing officer for Galaxy Entertainment Group, cites the old saying “differentiate or die,” to describe the need for the companies to carve out their market niche and shape their brands through the best use of all available marketing tools.