Daily Asia Gaming eBrief: Las Vegas Sands dominates in 4Q23

Thursday 25th of January 2024

Good Morning. While Macau continues to dominate land-based gaming, Singapore is delivering some impressive figures, at least for Las Vegas Sands, who saw incredibly healthy results in the fourth quarter of last year. Meanwhile, Macau's junket sector continues its slow demise, as holders-on lose faith in a comeback. In South Korea, INSPIRE expects to announce its casino's opening date on Monday, after receiving its casino license from authorities.

What you need to know

Las Vegas Sands saw impressive results from Macau and Singapore to round out the year, with MBS achieving record EBITDA.
Macau junkets are facing extinction as endless crackdowns by authorities leave the industry disillusioned and market survivors lose hope.
INSPIRE Entertainment receives a casino license in South Korea, casino opening date to be announced on Monday.

On the radar

Sands China designates Grant Chum as CEO and President.
SJM launches new non-gaming amenities.
China tightens controls on capital outflows amid market rout.
Tencent-owned Riot Games lays off 11% of global staff.
Playmaker Capital shareholders ok Better Collective acquisition.
Flutter announces Dublin stock exchange exit ahead of NYSE listing.
Sportradar streamlines operations with new leadership structure.

AGB Intelligence

RESULTS

Heady results for Las Vegas Sands in 4Q23

Las Vegas Sands saw an impressive end to 2023, with the fourth quarter results detailing some $1.2 billion in EBITDA, as Marina Bay Sands contributed a record quarter. Continual growth was seen in Macau, particularly in mass, while Singapore operations brought in strong VIP play. The group has high hopes for the future, justifying its multi-billion dollar investments, while aiming to crack the US market again.

Corporate Spotlight

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