Marina Bay Sands Lifts Q1 EBITDA 30% to $788 Million as Las Vegas Sands Doubles Down on Asia
Updated
Updated · CNBC · Jun 29
Marina Bay Sands Lifts Q1 EBITDA 30% to $788 Million as Las Vegas Sands Doubles Down on Asia
1 articles · Updated · CNBC · Jun 29
Summary
$788 million in first-quarter adjusted property EBITDA marked a record for Marina Bay Sands, up 30% from a year earlier as the Singapore resort kept setting new profit highs.
Singapore's tightly limited market and deepening wealth base are driving that performance: only two casinos operate there, Marina Bay Sands drew more than 36 million visitors last year, and room rates average about $1,000 a night.
Las Vegas Sands is expanding the property with an $8 billion fourth tower featuring 570 ultra-luxury suites, a project analysts say is not yet reflected in current EBITDA expectations.
That strength underpins the group's Asia-first strategy over crowded U.S. gambling markets, with management also keeping an eye on Texas as a rare domestic opening if casino laws change.
Analysts argue the stock still undervalues those Asian assets, with some estimates placing Marina Bay Sands alone near or above Las Vegas Sands' $46.50 share price.
Facing huge political hurdles in Texas, what is Las Vegas Sands’ real strategy for its American comeback?
With its Macao empire valued at zero, is Las Vegas Sands a massive bargain or a major geopolitical gamble?
Marina Bay Sands is breaking profit records. What is the secret to its Singapore success and can it last?
Las Vegas Sands Achieves Record Q1 2026 Revenue of $3.59B on Asian Premium Market Growth and MBS Expansion
Overview
Las Vegas Sands (LVS) achieved exceptionally strong financial results in the first quarter of 2026, with net revenue rising to $3.59 billion and operating income reaching $904 million. Net income surged to $641 million, and diluted earnings per share stood at $0.85. Consolidated adjusted property EBITDA climbed to $1.42 billion. This record growth was mainly driven by the outstanding performance of LVS’s integrated resorts in Asia, especially Marina Bay Sands in Singapore and Sands China in Macau, which showed remarkable strength in the premium market. These results highlight the success of LVS’s strategic focus on Asia’s high-value tourism and gaming segments.