Stronger US$, bad luck cause MBS to post lower Q1 earnings

Singapore

THE stronger US dollar and poor luck factor with VIP gamblers continued to hit earnings for Marina Bay Sands (MBS), as it reported a near 34 per cent drop year on year in profit to US$274.9 million for the first quarter of FY16.

Stripping out the bad luck factor and adjusting for currency translations, earnings before interest, taxes, depreciation and amortisation would have risen 10.3 per cent.

Total revenue for the quarter was about 23 per cent lower at US$603.7 million, as contributions from nea…