Phenomenal Surge in Singapore (Image Credits: Unsplash)
Singapore – Las Vegas Sands Corp. disclosed fourth-quarter earnings that showcased exceptional results from its Marina Bay Sands resort, prompting executives to label the period as possibly the finest in casino history.[1][2]
Phenomenal Surge in Singapore
The Marina Bay Sands property generated adjusted property EBITDA of $806 million for the quarter ended December 31, 2025. This figure marked a 50.1 percent increase from the previous year and an 8.5 percent rise from the prior quarter.[3]
Net revenues at the resort climbed 41 percent year-over-year to $1.6 billion. Casino revenues led the charge with a 52 percent jump to $1.2 billion, fueled by robust mass gaming and elevated hold percentages on rolling play. Non-gaming segments also contributed solidly, including rooms revenue up 21.6 percent and food and beverage sales increasing 20 percent.
Chairman and Chief Executive Rob Goldstein described the outcome as “simply the greatest quarter in the history of casino hotels.” He credited the resort’s premium offerings and a surge in high-value tourism for the success.[1]
Strong Lift for Overall Performance
Las Vegas Sands posted company-wide net revenues of $3.65 billion, a 26 percent improvement from the year-earlier period. Net income reached $448 million, or 58 cents per share, compared to $392 million, or 45 cents per share, in the prior quarter.
Operations in Macau showed progress as well, with net revenues up 16.2 percent to $2.06 billion and adjusted property EBITDA rising 6.5 percent to $608 million. Consolidated adjusted property EBITDA for the company totaled $1.41 billion, reflecting broad momentum across its Asian portfolio.
Leadership Transition on Horizon
Goldstein announced plans to step into a senior adviser role starting March 1, 2026, capping a 30-year tenure with the company. President and Chief Operating Officer Patrick Dumont will assume the positions of chairman and CEO.
Dumont praised Goldstein’s contributions, noting his mentorship and loyalty to the Adelson family. “Rob served in many important leadership roles for LVS,” Dumont stated. “There are not many individuals who have done more in this industry than he has.”[1]
Strategic Pivot Fuels Growth
The company sold its Las Vegas Venetian Resort in 2022 for $6.25 billion to sharpen focus on Asian assets. This move positioned Las Vegas Sands to capitalize on recovering tourism and gaming demand in the region.
Executives emphasized ongoing investments in existing properties while remaining open to select opportunities. Dumont mentioned potential interest in Japan if suitable prospects arise, though priorities center on maximizing current operations.[1]
Key drivers behind Marina Bay Sands’ standout quarter included:
- Mass gaming revenue reaching $951 million, up 27 percent year-over-year.
- Rolling chip volume expanding 66.1 percent to $13.4 billion.
- A $45 million EBITDA boost from favorable hold on rolling play.
- Steady gains in rooms, food and beverage, and mall revenues.
- Enhanced suite and service offerings attracting affluent visitors.
Key Takeaways
- Marina Bay Sands achieved $806 million in adjusted EBITDA, its highest ever.
- Company revenues grew 26 percent amid Asian market recovery.
- Leadership change ensures continuity with Dumont’s promotion.
These results underscore Las Vegas Sands’ dominance in Asia’s gaming landscape and signal sustained potential as tourism rebounds. How do you see the future unfolding for resorts like Marina Bay Sands? Tell us in the comments.
