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NEWS 30 January 2015

Las Vegas Sands boasts record yearly net revenue

By David Cook
Casino operator Las Vegas Sands Corporation (LVS) posted record net revenue for 2014.

A 5.9% increase to $14.58bn was recorded, despite a 6.68% decrease in the fourth quarter of 2014.

Consolidated adjusted property EBITDA also increased to a record level of $5.42bn in 2014, a 13.8% hike.

The successful yearly figures are complemented by a healthy fourth quarter of 2014, which saw adjusted earnings per diluted share up 27.8% to $0.92 and a dividend of $0.65 per share to be paid in the first quarter of 2015, a jump of 30%.

LVS paid a recurring quarterly dividend of $0.50 per share during the quarter, an increase of 42.9%.

LVS chairman and CEO Sheldon Adelson said: "I am extremely pleased that the successful execution of our integrated resort operating strategy, which generates the industry's most diversified cash flows and delivers the industry's highest revenue and profit from non-gaming segments including hotel, convention and exhibition, retail and entertainment, allowed us to again deliver increases in consolidated adjusted property EBITDA, operating income, net income and earnings per share this quarter.”

Company-wide operating results for the year have partially suffered due to Macau’s first annual loss in casino revenue since records began, as Sands Macau recorded an 18% drop in net revenue to $267.9m for 2014

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