Las Vegas Sands to report strong Q2 results, analysts say

Analysts predict Las Vegas Sands’ second-quarter revenue to reach US$2.39bn.

Macau.- Analysts at Trefis are forecasting that Las Vegas Sands could post revenue of US$2.39bn for the second quarter of the year. They highlighted the recovery in Sands’ Macau operations post-pandemic, driven by pent-up demand in the mass market segment, although they also saw signs of improvement in the VIP segment.

The positive outlook extends to Sands’ Singapore property, Marina Bay Sands, which is expected to have performed well with the increase in tourist inflow in recent months. The casino venue reported that adjusted property EBITDA rose from US$121m to US$394m year-on-year in the first quarter of the year. 

Labour shortages had caused the company to keep one-third of its rooms closed during the first quarter of 2023. However, analysts said that the situation is likely to have improved in the second quarter. Sands China posted net revenue of US$1.28bn for the first quarter, up 132 per cent when compared to last year. Its net loss was US$10m, down from US$336m in the prior-year period.

See also: Singapore visitors up 13.7% in Q1