SINGAPORE — VIP players gambled a record US$18.2 billion (S$22.5 billion) at Marina Bay Sands (MBS) in the first three months of the year, an increase of 42.2 per cent compared to the same period last year.

But the casino’s win percentage from VIPs fell 1.07 percentage points to 2.51 per cent, helping to push operating profit — or earnings before interest, taxes, depreciation and amortisation (EBITDA) — down by 16 per cent to US$396.8 million.

At a post-earnings conference yesterday, President and Chief Operating Officer of Marina Bay Sands’ parent Las Vegas Sands, Mr Mike Leven, said: “It’s a mathematically-driven model, isn’t it? We let people bet S$1 million a hand. Sometimes they get lucky, sometimes we get lucky but it’s been disappointing.”

But Mr Sheldon Adelson, Chief Executive of Las Vegas Sands, remained rosy about prospects, saying MBS is “the most profitable building in the history of buildings. Not even the pyramids or any monuments (can beat it)”.

Revenue at MBS was down 6.3 per cent at US$794.9 million for the quarter. In its non-gaming business, the hotel room and mall segments achieved strong revenue growth of 9.7 and 6.7 per cent to US$84.6 million and US$36.8 million, respectively. Its hotel rooms were almost full in the quarter, with occupancy of 98.5 per cent.

Las Vegas Sands reported record quarterly results, buoyed by its Macau casinos, with operating earnings up by 9.4 per cent to US$1.17 billion as net revenue grew 19.5 per cent to an all-time high of US$3.3 billion.

Lady Luck also smiled on VIP gamblers at MBS rival Genting Singapore. Genting yesterday reported first-quarter EBITDA falling 35 per cent from the previous corresponding period to S$249.7 million. Revenue fell 15 per cent to S$669.6 million in the period, while net profit was down 44 per cent to S$115.9 million.

“The first quarter’s performance was largely affected by a much weaker win percentage in the premium players’ business despite a significant increase in the premium players’ rolling volume,” Genting said.

Genting’s non-gaming business saw a strong growth of 17 per cent, with the newly-opened Marine Life Park attracting some 7,400 visitors daily, while Universal Studios Singapore recorded an average of 8,400 visits a day.