Marina Bay Sands Ranked Most Valuable Casino Gaming Brand

Marina Bay Sands Ranked Most Valuable Casino Gaming Brand Jan 17, 2024 9:04:25 GMT -5 birdnest likes this

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Post by Blitz on Jan 17, 2024 9:04:25 GMT -5

Marina Bay Sands Ranked Most Valuable Casino Gaming Brand

Posted on: January 16, 2024, Todd Shriber
www.casino.org/news/marina-bay-sands-has-most-valuable-casino-brand/

Las Vegas Sands’ Marina Bay Sands is the most valuable casino gaming brand, according to Brand Finance’s newly released 2024 rankings.

The Las Vegas Sands-owned Marina Bay Sands in Singapore. The venue is the most valuable casino brand in the world, according to Brand Finance. (Image: Pinterest)

The Singapore casino hotel ranked 368th, the same spot as in 2023. One of two integrated resorts in the city-state, Marina Bay Sands is the only brand with links to the casino industry on the list. Apple took the top spot with a brand worth an estimated $516.58 billion, according to Brand Finance.

Apple has achieved a remarkable brand value increase, even as iPhone volume share has largely plateaued, as its strategy of finding new markets, expanding its ecosystem, and encouraging upgrades to higher-value iPhones has been highly effective,” noted the research firm. “Apple has maintained its position as the dominant player in the premium smartphone market, with 71% value share.”

Microsoft, Google, Amazon, and Samsung rounded out the top five. Korea-based Samsung is the only foreign company among that quintet. However, four such firms are found among the Brand Finance top 10.

Inside Marina Bay Sands Stalwart Brand

While no single casino’s brand recognition or value will ever touch juggernauts such as Apple, Microsoft, and Coca-Cola, the brand visibility of Marina Bay Sands is impressive, particularly when considering it’s not a Las Vegas Strip venue.

It’s one of the most profitable casino resorts in the world, which helps boost awareness in the business community. In terms of everyday, more tangible brand recognition, the property is helped by its status as the most Instagrammed hotel in the world.

Marina Bay Sands also gets a boost from the fact that it’s one just of two gaming venues in Singapore, sharing a government-protected duopoly with Genting’s Resorts World Sentosa.

Marina Bay Sands is an essential part of Singapore’s business and leisure travel industries, and Sands benefits from its presence there. Last year, the city ranked ninth in the world in terms of tourism spending, according to the World Travel and Tourism Council (WTTC).

Marina Bay Sands Beats Some Impressive Brands

Brand Finance ranked 500 brands in terms of value and while plenty of gaming marks are assuredly more recognizable to North American consumers than is Marina Bay Sands, the LVS property outpaces a slew of highly recognizable companies in terms of brand value.

The Marina Bay Sands brand is more valuable than the brands of COVID-19 vaccine maker Pfizer, Domino’s Pizza, Kellogg’s, Mars Wrigley and index fund giant Vanguard, just to name a few, according to Brand Finance.

Other examples of well-known brands with considerable value though less than that of Marina Bay Sands are Gatorade, Bud Light, the US Postal Service, Dove, Burger King, Best Buy, Tide, Chipotle, and Dunkin’ Donuts.

Marina Bay Sands Ranked Most Valuable Casino Gaming Brand Jan 17, 2024 9:08:18 GMT -5 birdnest likes this

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Post by Blitz on Jan 17, 2024 9:08:18 GMT -5

Probably a lot flying to NY, Macau, and Singapore.

And now this...

Las Vegas Sands Corporate Jet Tab Takes Off, Second Among S&P 500 Firms

Posted on: January 16, 2024, Todd Shriber
www.casino.org/news/sands-corporate-jet-expenses-quadrupled-in-2022/

Las Vegas Sands (NYSE: LVS) spent $3.2 million on corporate jet travel for high-ranking executives in 2022, the second-highest tally among all S&P 500 member firms.

A Las Vegas Sands corporate jet takes off in Las Vegas. The company spent $3.2 million last year on private plane travel for executives. (Image: X)

The largest casino operator by market capitalization shelled out $3.2 million for the perk in 2022, slightly less than half the $6.6 million spent on the amenity by Facebook parent Meta Platforms (NASDAQ: META), reports the Wall Street Journal.

At the close of US trading today, Sands had a market capitalization of $36.95 billion, indicating the private air travel expenditures barely dent the company’s overall value.

In 2022, S&P 500 companies spent $65 million on corporate airfare for C-suite executives, nearly double the $33.8 million in related expenses incurred in 2021. Looked at another way, alone Las Vegas Sands represented about 5% of all private airfare for S&P 500 companies in 2022.

Sands Private Jet Spending Gaining Altitude

Sands’ 2022 tab of $3.2 million for private air travel represents a quadrupling from the $800,000 the company doled out the prior year.

In the casino business, it’s a given that companies will spend capital on private planes to bring “whale” gamblers to Las Vegas or other locations. That’s simply industry protocol.

Specific to Sands, the company no longer has US properties. But the company is rumored to be interested in bringing integrated resorts to Florida, New York, and Texas. Additionally, the operator’s current roster of casino hotels is comprised entirely of Marina Bay Sands in Singapore and five venues in Macau. It is likely executives based in Nevada are going to those Asia-Pacific properties at various points in any given year.

Private jet travel is considered a perk that’s part of broader compensation packages for high-level executives such as chief executive and chief financial officers. It’s often viewed as a matter of efficiency and one that many companies, including Sands, can afford.

Purchase prices on private jets can run anywhere from $2 million to $100 million with annual maintenance costs of $500,000 to $1 million, according to LunaJets. That doesn’t include flights, which can carry costs of $1,100 to $2,700 per hour depending upon the size of the aircraft.

LunaJets also noted other costs, including hangar rent of up $3,000 per month and pilot salaries, which can range from $86,000 to $300,000 per year depending upon experience.

Expect More Corporate Jet Travel, not Less

Data indicate that corporate jet travel has accelerated since the coronavirus pandemic and that the 2023 figures are likely to outpace those notched in 2022.

While Las Vegas Sands is the biggest spend on private jet travel among gaming companies residing in the S&P 500, it’s far from the only firm in the industry that incurs such expenses.

While some compensation critics and investors decry those expenditures, some companies believe the costs are necessary to reduce lost time and provide enhanced security to marquee executives.