Macau drives Las Vegas Sands growth in 3Q18
Las Vegas Sands Corp revenue grew 6.7% to US$3.37 billion during the third quarter, mainly thanks to Macanese operations.
US.- Las Vegas Sands Corp. revealed its results for the third quarter of 2018 and reported a financial growth that was mainly driven by its Macanese operations. The company saw revenue grow 6.7% to US$3.37 billion, while consolidated adjusted property EBITDA reached US$1.28 billion after a 6% increase.
“We are pleased to have delivered strong financial results in the quarter, led by continued growth in every market segment in Macau. Our Integrated Resort property portfolio in Macau delivered adjusted property EBITDA of US$754 million, an increase of 15.8% compared to the third quarter of 2017,” chairman and chief executive officer Sheldon Adelson said and added: “At Marina Bay Sands in Singapore, our hotel, retail, convention and mass gaming segments all exhibited strength, contributing to US$419 million of adjusted property EBITDA for the quarter.
“We believe our portfolio will provide an ideal platform for growth in Macau in the years ahead. In addition, we announced an increase in our annual dividend for the 2019 calendar year to US$3.08, or US$0.77 per share per quarter, and increased our return of capital through share repurchases of US$300 million during the quarter,” the casino mogul concluded.
