Punters Loses S$1 Billion To MBS in Q4 2011

[Mdm Tang]

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http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_762160.html


MBS rakes in $1 billion revenue, up 44% in Q4




Fourth-quarter revenue for Marina Bay Sands, a subsidiary of Las Vegas Sands, rose 44 per cent to S$1 billion (US$807 million). -- ST PHOTO: ALPHONSUS CHERN


LAS VEGAS (AP) - Fourth-quarter revenue for Marina Bay Sands, a subsidiary of Las Vegas Sands, rose 44 per cent to S$1 billion (US$807 million).

Casino-resort developer Las Vegas Sands Corp said its fourth-quarter net income rose 17 per cent to US$320.1 million as the company set an internal record for revenue, thanks mainly to more people gambling at its resorts in Macau and Singapore, company officials said on Wednesday.

Billionaire CEO Sheldon Adelson said the company is seriously considering building resorts in Japan, South Korea, Taiwan and Vietnam.

'Our most recent conversations have advanced to the point where details such as site selection ... have been discussed,' Mr Adelson told investors during a conference call on Wednesday.

 

[GoldenDragon]

That probably best explains why other businesses are suffering, especially the night scene coz a decent percentage of these losers would have splashed their cash in nightclubs if not for their losses in MBS.

 

[Mdm Tang]

That probably best explains why other businesses are suffering, especially the night scene coz a decent percentage of these losers would have splashed their cash in nightclubs if not for their losses in MBS.

bro GD ,


govt sold the mbs site for $5bn.


now mbs (lvs) making


a) s$500,000 an hour

b) S$12M per day

c) S$1.00 Bn per Qtr


could this have been a biz mistake ???


govt should have run this mbs site.


not sure how much RWS paid for its

site at sentosa. but i think it was $5bn also :(


ntuc should go into casino


a 3rd casino to support s'poreans

 

[Debonerman]

Glad I have no gambling habit. Still got $14,000 in pokerist.com and that is by the charitable daily lucky draws. And I have been at it for a month! I think I got beaten by ten year old kids.......

 

[UltimaOnline]

In MBS, the cigarette smoke travels from the smoking level 1 to the non-smoking level 2. Regulars at MBS and MBS employees are gambling with lung cancer.

RWS the smoking section is confined to one side hall only. The main hall is smoke-free.

When the cigarette smoke puts you in a bad mood, naturally you'll lose more than you win.

 

[Mdm Tang]

.

BT






Business Times - 02 Feb 2012


Las Vegas Sands profit jumps to US$320.1m in 4Q

LAS VEGAS - Casino-resort developer Las Vegas Sands Corp said its fourth-quarter net income rose 17 per cent to US$320.1 million as the company set an internal record for revenue, thanks mainly to more people gambling at its resorts in Macau and Singapore, company officials said on Wednesday.

Sands' net income amounted to 39 cents per share. Its revenue for the quarter rose 26.3 per cent to US$2.54 billion.

Billionaire CEO Sheldon Adelson, who has made headlines recently for his and his wife's combined donation of US$10 million to a political action committee supporting Republican presidential candidate Newt Gingrich, said the company is seriously considering building resorts in Japan, South Korea, Taiwan and Vietnam.

'Our most recent conversations have advanced to the point where details such as site selection ... have been discussed,' Mr Adelson told investors during a conference call on Wednesday.

The company reported adjusted earnings of 57 cents per share, in line with an average forecast from analysts, while its revenue beat the average forecast for revenue of US$2.46 billion.

After hours, its shares fell US$1.28, or 2.6 per cent, to US$49.90, after finishing the day up US$1.07, or 2.2 per cent, at US$50.18.

Sands declared an annual dividend of US$1 per share to be paid in four parts, starting March 30.

The company said that in Macau more middle-income gamblers played slots and table games. They wagered at lower limits than high rollers, but with lower costs - so their bets were more profitable.

Fourth-quarter revenue for the subsidiary Sands China increased 22 per cent to US$1.33 billion. In Singapore, revenue rose 44 per cent to US$806.9 million. And in Las Vegas, Sands' revenue climbed improved 9.3 per cent in Las Vegas to US$339.5 million, and 25.9 per cent in Bethlehem, Pennsylvania, to US$105 million.

Mr Adelson said the company now has just under one-fifth of the Macau market, and he expects that share to rise as Sands revamps its relationships with junket representatives who bring in high rollers and after Sands Cotai, a new casino development, opens in eight weeks.

Mr Adelson said Macau's eye-popping gambling tourism will keep growing as transportation infrastructure improves and more urban Chinese people have the disposable income and hotel rooms are built. -- AP

Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.

 

[Mdm Tang]

That probably best explains why other businesses are suffering, especially the night scene coz a decent percentage of these losers would have splashed their cash in nightclubs if not for their losses in MBS.

Wow !!! Bro GD , see here :



Local gamblers and record casino profits



Published on Feb 7, 2012



WHILE the shareholders of Marina Bay Sands (MBS) will toast its heady profits, I am amazed at the volume of money gambled and the profits earned by the integrated resort, with records being broken each successive quarter ('Another quarter of record profit for MBS'; last Friday).


I am particularly concerned to know how much of the money gambled is contributed by Singaporeans. It was not without reason that past English laws labelled games of chance as good-for-nothing activities and gambling debts unenforceable.


A dollar spent at the casino disappears like light into a black hole with very little multiplier effect, unlike a dollar spent in a restaurant.


Now we have billions of dollars being wagered and diverted from spending, investments and savings. This money will be a dead weight on our economy if we go into a recession.


I have not seen any recent statistics on the amount of casino entry levy collected from Singaporean citizens and permanent residents or the amount wagered and contributed by them to the casinos. The authorities should have this data readily at hand.


There may be a need to revise the casino entry levy and perhaps even place a limit on the number of visits by Singaporeans and permanent residents to the casinos.


With the casinos earning record profits and Singapore firmly in the second spot in the world in gaming volume, there is no reason why restrictions should not be tightened.


Kuo How Nam

 

[rectmobile]

bro GD ,


govt sold the mbs site for $5bn.


now mbs (lvs) making


a) s$500,000 an hour

b) S$12M per day

c) S$1.00 Bn per Qtr


could this have been a biz mistake ???


govt should have run this mbs site.


not sure how much RWS paid for its

site at sentosa. but i think it was $5bn also :(


ntuc should go into casino


a 3rd casino to support s'poreans

If govt run it, I don't think the casino can make any profit at all.