Sands MBS’ Result – Low EBITDA

* Professional Ground’s earlier comments about Singapore IR gaming market size and potentially an Ebitda of USD600m – 800m for 12 months period (each casino) is Spot-on again! read the following report by Reuters. 

Readers may refer to the earlier report/article by Professional Ground, “Marina Bay Sands – Making A statement” in this blog, for cross reference.

REUTERS News extracts:

Las Vegas Sands tops estimates as Asia outperforms

By Deena Beasley

 

  LOS ANGELES, July 28 (Reuters) – Las Vegas Sands Corp, the casino operator run by billionaire Sheldon Adelson, posted a better-than-expected quarterly profit on Wednesday, aided by strong performances at its new Singapore resort and in Macau.Sands, whose shares rose 2.3 percent in morning trading, earned 17 cents a share in the second quarter after adjusting for one-time items. Analysts on average expected 9 cents a share, according to Thomson Reuters I/B/E/S.Net revenue rose nearly 51 percent to $1.59 billion… 

… Singapore’s Marina Bay Sands generated $94 million in EBITDA in its first 65 days of operation. The $5.7 billion casino resort began operating in April…

 

 HIGH HOPES

 Chairman and Chief Executive Officer Adelson said during a conference call that he still expects the Singapore resort to bring in $1 billion in EBITDA next year, due in part to a broader-than-expected customer base…

 

  

 

What Professional Ground Says:  –  

   On the performance of Marina Bay Sands, $94m in its first 65 days in operation is too low an Ebitda achieved.   (Averaged USD1.45m Daily = USD529m EBITDA a year). 

 

 

CEO Las Vegas Sands:  “There are so many people that are coming from different countries in Asia … We have a group of Koreans flying in every week,” he said. “I think that the outer reaches of our marketing radius is wider than what we thought before.”…

 

… After payment of preferred stock dividends, Sands had a second-quarter net loss of $4.7 million…  (As reported by Reuters).