Marina Bay Sands Second Quarter Operating Results
Marina Bay Sands in Singapore delivered adjusted property EBITDA of
$330.4 million for the second quarter. The operating results were
negatively impacted by lower than expected Rolling Chip win percentage
of 2.42% for the quarter, as well as a provision for accounts receivable
of $39.9 million during the quarter, compared to $11.4 million in the
second quarter of 2011. Adjusted property EBITDA margin was 47.6% for
the quarter, and was negatively impacted by the lower hold and the
higher provision.
Gaming volumes reflected strong growth in the mass segments. Non-Rolling
Chip drop increased 8.2% to $1.21 billion, with Non-Rolling Chip win
percentage of 22.2%. Slot handle increased 15.1% to reach $2.74 billion
for the quarter, with slot hold percentage of 5.2%. Total mass win per
day during the quarter increased 8.9% to reach $4.52 million, compared
to $4.15 million in the second quarter of 2011. Rolling Chip volume was
$11.51 billion for the quarter.
The high margin hotel room and mall segments of the property continued
to reflect strong revenue growth of 30.0% and 13.0%, respectively, as
the property's full complement of offerings and amenities continued to
mature. Occupancy and ADR both expanded during the quarter, driving a
RevPAR increase of 29.9% compared to the same quarter last year.
The following table summarizes our key operating results for Marina Bay
Sands for the second quarter of 2012 compared to the second quarter of
2011:
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