High-rollers put in more money at Marina Bay Sands in the first quarter of this year, but they also had better luck than the integrated resort expected, dragging down its operating profits.
Spending at VIP tables reached US$18.21 billion (S$22 billion) between January and March this year, up 42.2 per cent from the same period last year. This is the highest quarterly volume in MBS's history. But for every $1 wagered by VIP gamblers, the casino earned 2.51 cents, down from 3.58 cents year on year. This contributed to the fall in operating profits, a 16 per cent drop to US$396.8 million.
Marina Bay Sands Hotel and The Shoppes, the integrated resort's mall, saw a growth in revenue of 9.7 per cent and 6.7 per cent respectively. Spending by mass-market gamblers increased 2.4 per cent year on year to US$1.19billion. The amount wagered on slot games also went up by 1.6 per cent to US$2.79billion.
MBS's parent company, Las Vegas Sands, reported an all-time record quarterly results, buoyed by its Macau properties. For the three months to March 31, the company's operating profits increased 9.4 per cent to US$1.17billion.