• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Goldstein: Macau, Singapore markets to rebound to record levels

Ben Blaschke by Ben Blaschke
Thu 14 Jul 2022 at 05:27
Encouraging signs for Singapore tourism as visitor numbers on the rise
61
SHARES
1.5k
VIEWS
Print Friendly, PDF & Email

The Chairman and CEO of Las Vegas Sands Corp, Robert Goldstein, says he expects the company’s two key Asian markets – Macau and Singapore – to become more profitable than ever before once fully recovered from the ravages of the COVID-19 pandemic.

Goldstein, alongside Wynn Resorts CEO Craig Billings and MGM Resorts CEO and President Bill Hornbuckle, was speaking during a panel session titled “Betting on the Future: Reinventing the Modern Casino” – part of the CNBC Evolve Global Summit broadcast overnight (Macau time).

While much of the hour-long discussion was centered around the strong recovery seen in Las Vegas, which has resulted in record revenues throughout 2022, Goldstein said he expects similar results in Asia as and when it fully opens up. LVS operates Marina Bay Sands (MBS) in Singapore and multiple resorts in Macau, including The Venetian, The Parisian and The Londoner on the Cotai Strip.

“Most of Asia’s opening,” he said. “The biggest challenge there is employees and airlift getting in and out of these countries [which is] still challenging into Singapore. But Singapore is leading the way in terms of [it having] a great government, great place to operate. We’re thrilled to be there.

“At its peak [MBS] was a US$1.7 billion [EBITDA] property. My guess is that we’ll do better than that in the future.

“Macau, I find it funny that people question Macau’s return. Of course it’s been a hard couple of years, no question. We employ 33,000 to 34,000 people. We’ve not laid anyone off, we’ve been paying them for 30 months. And it’s a tough time. You’ve got to basically hunker down and wait for it to turn.

“But the idea it doesn’t turn is kind of hard to imagine – it’s going to turn probably this year or next. And when it does, Macau will go back to making – you know, we made at the peak US$3.5 billion EBITDA. I think we’ll make a lot more than that in the future there.”

Billings said he remained concerned for the mental state of his Macau employees with the city currently in the midst of a strict lockdown, but is also bullish on the SAR’s long-term prospects.

“It’s very, very difficult and I appreciate everything [the employees] do for us. It is a difficult time to be there,” he said. “But if you think about the latent demand across the border, you think about the importance of Macau frankly within the Greater Bay area, we’re huge, huge bulls on Macau just like Rob.”

Hornbuckle added, “Macau was seven, eight times [the size of] Las Vegas in scale. I mean, okay? So it comes back half to begin with and then some and then some. It’s the largest gaming market in the world bar none, and it will forever be.”

RelatedPosts

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

Fri 30 May 2025 at 06:42
Macau’s hotel occupancy rate reaches 89% in July

Macau’s hotel occupancy rate climbed to 87.8% in April

Thu 29 May 2025 at 17:27
On the brink

On the brink

Thu 29 May 2025 at 13:27
Macau GGR rises 43.7% year-on-year to MOP$86.86 billion in 2021

Moody’s maintains investment-grade rating for Macau as fiscal reserves climb to US$77 billion

Thu 29 May 2025 at 05:23
Load More
Tags: Bill HornbuckleCNBC Evolve Global SummitCraig BillingsEbitdaLas Vegas SandsMacauMGM Resorts InternationalRobert GoldsteinSingaporeWynn Resorts
Share24Share4
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English