Las Vegas Sands revenue rises 15% in Q2
Revenue in the second quarter reached US$3.18bn as Marina Bay Sands drove record performance.
Macau.- Las Vegas Sands has announced financial results for the quarter ended June 30. The company reported revenue of US$3.18bn, up 15 per cent compared to the same period last year primarily due to Marina Bay Sands performance.
Operating income was US$783m, compared to US$591m in the prior-year quarter. Net income rose 22.4 per cent to US$519m and consolidated adjusted property EBITDA was US$1.33bn, up 24.3 per cent compared.
Robert G. Goldstein, chairman and chief executive officer, said: “We remain enthusiastic about our opportunities to deliver industry-leading growth in both Macau and Singapore as we realise the benefits from our recently completed capital investment programs in both markets.”
“In Macau, our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macau and support its development as a world center of business and leisure tourism positions us well for future growth.”
He added: “In Singapore, Marina Bay Sands once again delivered record financial and operating performance. Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia expands.”
Marina Bay Sands generated a net revenue of US$1.4bn, representing an increase of 36.6 per cent from the prior year period while the segment’s adjusted property EBITDA grew by 50 per cent year-over-year to US$768m. In Macau, adjusted property EBITDA reached US$566m. Sands China (SCL) posted net revenue of US$1.79bn, up 2.5 per cent year-on-year, but net income declined 13 per cent to US$214m.
