The impressive result included an all-time high in quarterly Adjusted Property EBITDA of US$544 million at MBS, double the US$273 million reported during the same period in 2022 and up from US$491 million in the September 2023 quarter. It also puts the Singapore icon well and truly above the quarterly run-rate required to achieve the company’s stated ambition of reaching annual EBITDA of US$2 billion.

LVS said MBS – which also achieved EBITDA margin of 51.3% – was aided by high hold on rolling play, which provided a positive impact on Adjusted Property EBITDA to the tune of US$71 million.

Net revenues of US$1.06 billion were 55.6% higher year-on-year and 3.9% higher quarter-on-quarter, and included casino revenues of US$741 million.

In Macau, subsidiary Sands China recorded Adjusted Property EBITDA of US$654 million, up from US$631 million in Q3 despite a US$40 million negative impact from low hold in rolling.

Net revenue from Macau operations reached US$1.86 billion compared with US$1.78 billion in Q3 and just US$444 million in 4Q22. The Venetian Macao again led the way with net revenues of US$748 while The Londoner Macao contributed US$589 million, The Parisian Macao US$222 million and The Plaza Macao and Four Seasons US$192 million.

Group-wide net revenues for LVS reached US$2.92 billion, up 161% year-on-year and 4.3% quarter-on-quarter.

For FY23, LVS reported net revenues of US$10.4 billion, up 152% year-on-year.  Marina Bay Sands recorded revenues of US$3.85 billion and Adjusted EBITDA of US$1.86 billion, while Sands China recorded revenues of US$6.56 billion and Adjusted EBITDA of US$2.22 billion.

“We were extremely pleased with our financial and operating results for the quarter, which reflect the ongoing improvement in the operating environment in both Macau and Singapore,” said LVS Chairman and CEO, Robert Goldstein.

“In Macau, the ongoing recovery across all segments continued during the quarter.  Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macau and support its development as a world center of business and leisure tourism positions us well as the ongoing recovery in travel and tourism spend progresses.

“In Singapore, Marina Bay Sands once again delivered outstanding levels of financial and operating performance. Our new suite product and elevated service offerings position us well as airlift capacity continues to improve and the recovery in travel and tourism spending from China and the wider region continues to advance.

“We are fortunate that our financial strength supports our ongoing investment and capital expenditure programs in both Macau and Singapore, our pursuit of growth opportunities in new markets, and the return of capital to stockholders.”