Las Vegas Sands reports 4Q19 results
Las Vegas Sands has reported its financial results from the fourth quarter of 2019, where it registered net revenue of US$3.51 billion.
US.- Las Vegas Sands has released the financial results for the quarter ended December 31, 2019. Net revenue was US$3.51 billion, an increase of 1% from the prior-year quarter. Operating income increased 6.9% to US$934 million.
Net income rose to US$783 million compared to a net loss of US$40 million in the same period in 2018, which was due to improved operating results and nonrecurring non-cash income tax expense ofUS$727million for US tax reform in 2018.
Consolidated adjusted property EBITDA was US$1.39 billion, an increase of 9.1% from the prior-year quarter due to increases in each of our jurisdictions, led by Singapore increasing US$95 million.
“We delivered solid financial results in the quarter, with Adjusted Property EBITDA reaching US$1.39 billion,” said Sheldon G. Adelson, chairman and chief executive officer. “We remain enthusiastic about our future growth opportunities in Asia. This year, we will introduce approximately two million square feet of luxurious suite accommodations on the Cotai Strip with the opening of the Grand Suites at Four Seasons Macao and The Londoner Tower Suites. Additional tourism and entertainment amenities of The Londoner Macao will debut throughout 2020 and 2021.
“Looking further ahead, the expansion of Marina Bay Sands in Singapore will meaningfully increase our suite capacity and introduce a state-of-the-art entertainment arena, both of which should contribute to future growth. We are also aggressively pursuing additional development opportunities in new markets, including in Japan.
