Las Vegas Sands’ expecting better results for Q3

Las Vegas Sands will announce results for the third quarter this week.
Las Vegas Sands will announce results for the third quarter this week.

The company will be the first operator to reveal its third-quarter results. It expects them to be better than Q2.

Macau.- Las Vegas Sands, one of Macau’s “big six” casino operators, will reveal financial results this week for the third quarter of the year.

The company, which operates venues in the US, Singapore and Macau, expects a net loss of US$0.44 a share, still a major hit after adjusted profit of $0.75 in the same period last year, but significantly better than the loss of $1.07.in Q2.

According to the Zacks Consensus Estimate, revenue is likely to come in at $867.4 million, indicating a decline of 73.3 per cent compared to last year.

The results are expected to have improved on the last quarter as the company’s properties in all three locations are now open. However, none has seen the sharp pick up in business amid ongoing travel restrictions.

Analysts say Melco Resorts & Entertainment and Galaxy Entertainment are both likely to see a recovery as they have a strong focus on the premium mass market and thus hit a spot between mass market and the high rollers, who have yet to return in high numbers.

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