Las Vegas Sands (LVS) is optimistic about Singapore
Las Vegas Sands (LVS) is optimistic about the renovated Marina Bay Sands resort in Singapore, expecting to increase prices significantly with the reopening of 200 high-end suites. CEO Robert Goldstein believes that having an exemplary product that people desire gives the company pricing power, similar to luxury brands like Hermes, Chanel, and Louis Vuitton. Despite operating with ongoing renovations, Marina Bay Sands saw a 36% increase in revenues to $925 million, with property-level EBITDAR up 35% to $432 million. LVS also experienced a strong return in Macau, with revenues more than quadrupling to $1.6 billion, leading to a total revenue increase of 140% to $2.54 billion. LVS is confident in Macau’s market and expressed enthusiasm for the recently renewed concession. Additionally, all six concessionaires in Macau will sponsor the Macau F1 Grand Prix in November.
Entain acquired pricing and analytics firm Angstrom SportsEntain’s acquisition of Angstrom Sports for up to $263 million has raised questions due to Angstrom’s relatively low annual revenues. However, the investment […]