Big bets on expanding MBS and RWS could pay off despite economic risks 

Singapore’s 2 integrated resorts (IRs) - Marina Bay Sands (MBS) and Resorts World Sentosa (RWS) - endured a torrid time from early-2020 to early-2022 due to Covid-related movement restrictions.

But the IRs are on the road to recovery. For the quarter ended Jun 30, 2022, Las Vegas Sands (LVS), which owns MBS, said the recovery at MBS accelerated during the quarter, with strong growth across gaming and non-gaming segments. MBS chalked up adjusted property Ebitda (earnings before interest, taxes, depreciation and amortisation) of US$319 million – nearly tripling from US$112 million the previous year.

Genting Singapore , which owns RWS, saw revenue for H1 2022 rise 20 per cent year-on-year, although higher utility tariffs and increased casino tax rates impacted the overall profitability.