Las Vegas Sands Corp. (LVS) welcomed a highlight moment in the fourth quarter of 2025, with its Marina Bay Sands (MBS) in Singapore achieving a record performance, hailed by the group's chairman as "the best quarter in casino hotel history." Meanwhile, the Macau market has steadily powered through high-end customer business, but the mass market has not returned to previous highs, and industry salary adjustments have also slowed with economic stability. Related Asia-Pacific gaming industry performance analysis and compliance references can be found on the PASA official website.
MBS Performance Explosion: 50% EBITDA Growth Boosts the Group
The stellar performance of Marina Bay Sands was the core growth engine for LVS in the fourth quarter:
Key Performance: MBS's adjusted property EBITDA surged by over 50% year-over-year, reaching a historic peak of $806 million;
Group Revenue: This performance directly drove LVS's total fourth-quarter revenue to $3.65 billion, making it the group's most proud business segment;
Growth Core: High-end customer (VIP) business is the main driver in the Singapore market, and also provides important support for the performance of the Macau market.
Macau Market: Stability with Concerns, Salary Increase Falls to 2%
The Macau gaming market maintains a stable performance but still faces some challenges, with the industry ecosystem gradually stabilizing:
Business Performance: Sands China's operations in Macau did not disappoint the market, but executives admit that only when the mass market (base mass) returns to previous levels can the property achieve a more comprehensive outstanding performance, and there is still room for improvement in this segment;
Salary Dynamics: In the post-pandemic era, the economy has entered a stable phase, and by 2026, the salary increase in the Macau gaming industry has fallen from previous highs to around 2%, with operators reducing salary adjustment scales according to market conditions.
Asia-Pacific Gaming Industry Focus Dynamics
Beyond core market performance, there are several dynamics in the Asia-Pacific gaming industry worth noting:
Australia: The court supports the regulatory authority's decision that OkeBet has engaged in gambling violations;
South Korea: A survey in Seoul shows that one-fifth of teenagers have been exposed to gambling-related activities;
Russia: Officials propose legalizing online gambling, planning to open new fiscal revenue sources;
Macau: The Monetary Authority is optimistic about the market outlook for 2026, bullish on the industry's long-term development;
UAE: Ras Al Khaimah Airport plans to create an exclusive terminal for Wynn Resorts' high-end customers (VVIP), enhancing customer experience.
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This article is from "PASA-Global iGaming Leaders" gambling news channel:https://t.me/pasa_news
Original in-depth gambling channel:https://t.me/gamblingdeep
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PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
