• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 30 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

LVS expecting fourth Marina Bay Sands tower to push annual EBITDA over US$3 billion

Ben Blaschke by Ben Blaschke
Thu 25 Jan 2024 at 17:47
Las Vegas Sands, Genting Singapore enter government agreement for major expansion of Singapore IRs

A new 1,000-suite hotel tower and 15,000-seat arena are the headline features of Marina Bay Sands’ expansion plans

70
SHARES
1.8k
VIEWS
Print Friendly, PDF & Email

Having seen its Singapore icon Marina Bay Sands (MBS) achieve an annualized run rate of more than US$2 billion in Adjusted EBITDA in 4Q23, owner Las Vegas Sands says the sky is the limit with a new EBITDA goal of US$3 billion once construction of a fourth tower is complete.

Providing an update to investors after releasing financial results for both Q4 and FY23 on Thursday, which saw MBS record annual EBITDA of US$1.86 billion but a record US$544 million in the December quarter, LVS Chairman and CEO Robert Goldstein said he expects profit to continue growing over the next few years as ongoing upgrade works are complete.

However, he believes a planned US$3.3 billion expansion that will see a fourth tower added should push annual EBITDA above US$3 billion by 2030 – further cementing the property’s status as the most profitable IR in the world.

“We look at this asset as a US$2 billion asset today in annualized EBITDA but we think it can grow by 10% to 20% in the next three or four years,” he explained.

“Then hopefully, if we can finalize our plans with the government and they [approve] another building, we believe that could make us US$3 billion in projected EBITDA by the end of the decade. We see ourselves going to US$2.3 billion or US$2.4 billion [ponce renovations are complete], eventually going up to US$3 billion. We see huge growth in this asset and our only disappointment in Singapore is that we don’t have more space, because it’s a very desirable.

“That building is probably the most valuable hotel building ever built in the world and will just accelerate in the next few years.”

On progress of the fourth tower development, first announced in 2019 but since delayed due to the pandemic, LVS said they were hopeful of reaching an agreement with the government before the end of Q3.

“We’ve been in very close discussions with the government over many months,” said the company’s President and COO, Patrick Dumont. “There are a lot of moving parts here, a lot of things we need to satisfy because this is a project of national significance, so we want to make sure everyone is comfortable with it and we get all the proper approvals.

“We are hoping in the next quarter or two that we’ll get everything done. We’ve been making good progress, we’ve been visiting Singapore, so we’re hoping we get all the green lights we need and can get going soon.”

Dumont added that a recently announced US$750 million upgrade of Tower 3 would be mostly completed in time for Chinese New Year 2025.

RelatedPosts

Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
A New Macau

Seaport: Sands China targeting US$1.5 billion in annual dividend payments

Fri 22 Aug 2025 at 05:23
Sands China announces appointment of Patrick Dumont as new non-executive director

Sands China announces appointment of Patrick Dumont as new non-executive director

Sun 10 Aug 2025 at 16:25
Ministry says foreign workers comprised majority of 2,000 laid-off RWS workers

JP Morgan highlights “strikingly large” gap between Singapore’s two IRs as Resorts World Sentosa falls to all-time low market share

Sat 9 Aug 2025 at 10:04
Load More
Tags: EbitdaLas Vegas SandsMarina Bay SandsPatrick DumontRobert GoldsteinSingapore
Share28Share5
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

All your sports entertainment with SABA Sports – always fair and sharp since 1998.

All your sports entertainment with SABA Sports – always fair and sharp since 1998.

by Newsdesk
Fri 29 Aug 2025 at 18:57

CLIENT PROMOTION Since 1998, SABA Sports has stood as the trusted backbone of the world’s most respected sports betting brands. Built on real-time intelligence and operational excellence, we have earned our reputation as the definitive partner for leading operators worldwide....

Newly appointed Thai PM Paetongtarn Shinawatra expected to continue pursuit of legalized casinos

Thai casino bill dead in the water as Constitutional Court removes Prime Minister Paetongtarn Shinawatra from office

by Ben Blaschke
Fri 29 Aug 2025 at 18:44

Thai Prime Minister Paetongtarn Shinawatra has been removed from office for ethics violations after the Constitutional Court ruled 6-3 against her on Friday. She becomes Thailand’s sixth Prime Minister to be removed by a court or legal ruling since 2008...

Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Star Entertainment Group falls to AU$471.5 million loss in FY25 as remediation, regulatory hurdles continue to bite

by Ben Blaschke
Fri 29 Aug 2025 at 07:38

Australia’s Star Entertainment Group has reported a statutory loss of AU$471.5 million (US$308 million) for the financial year ended 30 June 2025, impacted by a 29% year-on-year decline in group-wide revenue including a 37% fall in gaming revenue. Although the...

Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

by Ben Blaschke
Fri 29 Aug 2025 at 05:30

Resorts World Las Vegas (RWLV), the US flagship of Malaysian gaming giant Genting Berhad, saw revenues grow by 8% quarter-on-quarter to US$180 million and EBITDA by 80% to US$18 million in 2Q25, with the company pointing to improved hold and...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English