Content Writer: Janice Chew • Tuesday, 26/02/2026 - 13:01:26 - PM
Las Vegas Sands has received a credit rating upgrade from Fitch Ratings, with the agency citing sustained earnings strength and cash flow visibility driven largely by its Singapore operations.
According to Fitch and corroborated by regional gaming and financial media, the upgrade reflects continued robust performance at Marina Bay Sands, which remains one of the most profitable integrated resorts globally. Strong mass-market demand, premium tourism flows, and disciplined cost management were highlighted as key contributors to the group’s improved credit profile.
Fitch also pointed to Las Vegas Sands’ conservative balance-sheet management, high liquidity, and reduced leverage as supporting factors. Analysts note that Singapore’s stable regulatory environment and limited competition continue to provide Las Vegas Sands with earnings resilience and downside protection, particularly as Macau’s recovery remains more cyclical.
The upgrade reinforces Singapore’s strategic importance within global gaming portfolios. Marina Bay Sands continues to anchor group earnings and cash generation, supporting dividends, reinvestment, and financial flexibility across the wider Las Vegas Sands platform.
The rating action underscores a broader theme in Asian gaming: assets in tightly regulated, high-barrier markets such as Singapore are increasingly viewed by credit agencies as stabilising forces amid regional volatility.