Las Vegas Sands reports Q2 results

The company increased its consolidated net revenue by 6.2 per cent to US$3.3 billion in Q2.

US.- Las Vegas sands released its second quarter financial results on Thursday, which indicate that consolidated net revenue increased 6.2 per cent to US$3.3 billion during the three month period. Net income also increased 5.8 per cent to US$676 million.

Sheldon Adelson, chairman and CEO of Las Vegas Sands, said that the company is pleased with the strong financial results delivered during the second quarter ending June 30th, and that the results were led by robust growth in Macau, where every property in its portfolio delivered growth and adjusted property EBITDA reached US$750 million, an increase of 25 per cent compared to the second quarter of 2017.

“While lower rolling chip volume and win percentage compared to the year-ago quarter impacted our results at Marina Bay Sands in Singapore, the power of our unique convention-based integrated resort business model remains evident in our financial performance, with Singapore delivering $368m of adjusted property EBITDA and Las Vegas performing well despite lower than expected hold on table games play.

“We also continue to invest in growth initiatives in each of our markets while returning excess capital to shareholders through dividends and share repurchases.”