Singapore and Macau lift Las Vegas Sands

As the only company in the world with a major presence in each of the three largest casino gaming markets; Macau, Singapore and Las Vegas, I always think of Las Vegas Sands Corporation as a wonderful barometer for the fluctuating fortunes of these markets.

LV Sand’s Q2 results were released Tuesday this week and they only served to reinforce the fact that Macau and Singapore continue to fluctuate in only one direction…up.  Growth in these areas has transformed the company from an America casino business with interests in Asia, to an Asian casino business with its headquarters in America.

Its $2.35 billion in Q2 revenue comprised a mere $332.5 million from its 3 Las Vegas properties (Venetian, Palazzo, Sands), $1.19 billion from its 3 Macau properties (Sands Macau, Venetian Macau, Four Seasons Macau), and $737.6 million from its single property in Singapore (Marina Bay Sands).

At an investor briefing, CEO Sheldon Adelson made it clear who he thought the star of the show was…

“I will leave you with one simple, conservative statement. Now that we have entered our second year of operations, it is increasingly clear that Marina Bay Sands is becoming the most successful integrated resort in the history of the hospitality, gaming, and entertainment industry.”

The team at Resorts World Sentosa may dispute this, but what few will argue is that Singapore’s casino experiment has been an unparalleled success.

Frank Fahrenkopf, president of the American Gaming Association called it last month at the Asian Gaming Expo when he said Singapore will pass Las Vegas as the world’s number two casino market during 2011.  He expected $6.4 billion to be dropped in Singapore versus $6.2 billion in Las Vegas.