Marina Bay Sands H1 revenue rises 17% to US$2.6 billion as travel spend in Asia expands

[SINGAPORE] Net revenue for Marina Bay Sands (MBS) rose 17 per cent to US$2.6 billion in the first half of 2025, from US$2.2 billion for the same period in 2024.

The casino resort operator’s parent company, Las Vegas Sands (LVS), said on Thursday (Jul 24) that MBS delivered “record financial and operating performance”. The company drew down S$1.1 billion to fund the payment for the land premium on MBS’ US$8 billion expansion.

Revenue from rooms for the second quarter grew 8 per cent year on year to US$134 million, though hotel occupancy dropped by 0.3 percentage point to 95 per cent across the same period. The average daily room rate rose 11.4 per cent to US$888, resulting in a revenue per available room of US$844 compared to US$759 in Q2 2024.

The company’s Ebidta margin for Q2 grew 4.9 percentage points to 55.3 per cent.

Casino revenue also rose, surging 51.3 per cent to US$1.1 billion from US$706 million in the same period last year. Rolling chip volume was up 47.2 per cent at US$8.9 billion from US$6.1 billion.

“Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia expands,” said Las Vegas Sands in its release.

To be completed in 2030, MBS’ new luxury hotel tower is set to have 570 suites and is expected to feature boutiques, gaming and wellness amenities. The 55-storey tower will showcase a 76,000 square foot “Skyloop”.

Capital expenditures Q2 were at about US$286 million. They include construction, development, and maintenance activities spend of US$129 million at MBS and US$138 million in Macao.

At a wider group level, LVS reported a rise in net revenue to US$6 billion for the first half of 2025, compared to US$5.7 billion in the corresponding year-ago period. Net income attributable to LVS Group however fell to US$813 million from US$847 million in H1 last year.

In addition, its consolidated adjusted property Ebitda was US$2.5 billion, up from US$2.3 billion in the first half of 2024.