The Shoppes at Marina Bay Sands enjoys sales rise

Revenue from The Shoppes at Marina Bay Sands rose 4.5 per cent during the third quarter, reaching US$44 million, according to the integrated resort’s latest results announcement. Sheldon Adelson, CEO of parent Las Vegas Sands Corp, said retail tenant sales per square foot at the shopping complex rose by 22.2 per cent during the past year.

That, together with rising food and beverage sales (up 15.2 per cent to $53 million) and improved hotel revenues helped offset a decline in gaming takings, said to be affected by a decline in VIP playing. Third-quarter earnings were down 52 per cent to $419 million for the quarter.

Las Vegas Sands’ regional third-quarter earnings were up by 6 per cent to US$1.28 billion, thanks to the strengthening Macau business.

Hotel occupancy at Marina Bay was 97.5 per cent during the third quarter with an average daily rate of $466.