Singapore has continued to be an essential ingredient to the success of Las Vegas Sands, as the operator continues to look to expand its presence in the market.

The Marina Bay Sands venue has been a key area of success for the operator, with its revenue reaching $768m in Q2, an increase of 27% from the comparative period last quarter.  

This built on growth for Sands in Singapore during Q1 as tourism engagement thrives in the market. 

The operator has laid out plans for building a new $8bn ultra-luxurious resort and entertainment destination in Singapore, which will expand its regional footprint and strengthen its commitment to the Republic’s future.

Sands Chairman and Chief Executive Officer, Robert Goldstein, recently stated: “With its opening in 2010, our founder Sheldon G. Adelson embarked on a journey in Singapore with Marina Bay Sands and the people of Singapore that promised to change the face of tourism in the region. 

“Fifteen years later, we have delivered on these ambitions and more. Marina Bay Sands is the world’s most successful integrated resort in history, and the gold standard in the industry. It has been truly incredible to witness Mr. Adelson’s vision come to life, and we are proud to carry his legacy forward with today’s groundbreaking ceremony for our new development here. 

“We have every intention of delivering a product that will be the envy of the hospitality industry and usher in a new era of luxury tourism in Singapore.”

Overall, the growth of Las Vegas Sands was significant, with the operator reporting a 15% boost in net revenue, as it increased to $3.18bn.

Making strides in Macau

There was also reason for the operator to be optimistic about growth potential in the Macau market, with revenue rising 2.5% to $1.8bn.

Goldstein stated: “We remain enthusiastic about our opportunities to deliver industry-leading growth in both Macau and Singapore as we realise the benefits from our recently completed capital investment programs in both markets.

“In Macau, our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macau and support its development as a world centre of business and leisure tourism positions us well for future growth.

“In Singapore, Marina Bay Sands once again 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.

“Our financial strength and industry-leading cash flow continue to support our investment and capital expenditure programs in both Macau and Singapore, our pursuit of growth opportunities in new markets and our program to return excess capital to stockholders.”

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