Te RWS 2023 Q3 report stated: “We are confident that this investment will firmly anchor RWS as the most sought after tourism destination in Asia and propel the group’s strong future growth.”
After a buoyant few years between 2017-2019 the gaming world ground to a halt in 2020 and operations at RWS were closed from April to June of that year. Business began to improve in 2022 after a difficult two years following the easing of the Covid restrictions.
For FY 2022 the group saw revenues of S$1.73bn, up 62 per cent on the previous year (S$1.07bn) with a net profit of S$340m (S$183.3m in 2021).
Of this gaming revenues reached S$1.22bn compared to S$802.5m in 2021 and, as a comparison, S$1.61bn in 2019.
For the first half of 2023 revenues reached S$1.08bn (up 63 per cent on last year H1 figures) with a GGR of S$746.9m - 57 per cent higher than the same half year period in 2022.
2023 Q3 results show S$689.8m in revenues of which S$459.5m are from gaming – up 20 per cent on 2022 Q3 results.
MARINE BAY SANDS is one of six IRs operated by Las Vegas Sands Corp (five in Macau and one in Singapore) and is located on the Marina Bay waterfront and just 20 minutes from Changi Airport.
Te resort is made up of 2,561 hotel rooms across three 55 storey hotel towers topped with the unique Sands SkyPark with 150 metre long infinity pool is the focal point alongside the ArtScience museum, convention centre, Te
As part of its licensing agreement in 2019, MBS entered into an agreement with the Singapore Tourism Board for the Second Development Agreement under the MBS Expansion Project which included a 1,000 room hotel tower plus rooftop attraction, convention and meeting facilities and 15,000 seat live entertainment area. P110 WIRE / PULSE / INSIGHT / REPORTS
Shoppes retail area, restaurants, theatre and Banyan Tree spa. Te casino area is 160,000sq.ft with around 500 tables and 2,900 slots and this underwent some renovations within its high limit gaming area.
As part of its licensing agreement in 2019, MBS entered into an agreement with the Singapore Tourism Board for the Second Development Agreement under the MBS Expansion Project which included a 1,000 room hotel tower plus rooftop attraction, convention and meeting facilities and 15,000 seat live entertainment area. Tis saw an investment of US$4.5bn with an eight year end completion date.
In addition to the expansion project the company has also invested US$1bn to renovate and upgrade rooms in Towers One and Two.
Te MICE area saw 2,164 events hosted at Sands Expo in 2022. Hotel occupancy in 2022 was at 93 per cent with US$1.68bn in casino revenue.
Casino revenues at MBS in 2022 amounted to US$1.68bn up 85 per cent on 2021 figures of US$905m. Tis compares to US$2.16bn in 2019.
Te 2023 H1 results showed net revenues of US$1.77bn compared to US$1.07bn for the same period in 2022. Te first nine months of 2023 results were US$2.78bn compared to US$1.83bn in 2022.
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