Marina Bay Sands earnings jump 51.1% in 1Q24

The integrated resort also recorded higher net revenue.

Marina Bay Sands (MBS) reported a 51.1% YoY higher earnings before interest, taxes, depreciation and amortisation (EBITDA) of US$597m in 1Q24.

In the same period, the integrated resort also recorded higher net revenue of  US$1.16b, up from the 1Q23 record of US$848m and higher than the previous quarter's US$1.06b.

The resort's parent company, Las Vegas Sands, attributed MBS' better performance to growth in "travel and tourism spending."

Meanwhile, MBS also reported a mass win of US$687m and a rolling volume of US$8.2b. Its occupancy rate stood at 95%, whilst its average daily rate (AFDR) was US$713.

"Ongoing US$1.75b capital investment program will enhance the tourism appeal of Marina Bay Sands and help drive continued high-value tourism growth," Las Vegas Sands commented.

READ MORE: Marina Bay Sands targets 2029 completion for major expansion