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Las Vegas Sands reports $1.01bn in Q3 revenue

Las Vegas Sands has reported revenue of $1.01bn for the third quarter of 2022, up from $857m in the prior-year period, representing an 18% increase.

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Operating loss for Q3 2022 was $177m, compared to $316m in the prior-year quarter, while net loss from continuing operations was $380m, compared to $594m in the third quarter of 2021.

Consolidated adjusted property EBITDA rose from $47m in Q3 2021 to $191m in Q3 2022, a 306% increase.

Total net revenue for Sands China declined by 59% from $611m in the third quarter of 2021 to $251m in the third quarter of 2022, while net loss for Q3 2022 was $472m, compared to $423m in Q3 2021.

"While travel restrictions continued to impact our financial results this quarter, we were pleased to see further progress in Singapore’s recovery, with Marina Bay Sands reaching $343m in adjusted property EBITDA,” said Las Vegas Sands Chairman and CEO Robert G. Goldstein.

“We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are able to travel to both Singapore and Macao.

"We remain confident in the recovery of travel and tourism spending across our markets. Demand from customers who have been able to visit remains robust.”

The Venetian Macao led the way for Macao operations with revenue of $104m, followed by The Londoner Macao and The Plaza Macao and Four Seasons Macao, each reporting revenue of $57m. The Parisian Macao and Sands Macao reported totals of $21m and $11m respectively, with revenue for Ferry Operations and Other totalling $8m. Marina Bay Sands posted revenue of $756m.

Goldstein added: “Our investments in our team members, our communities and our industry-leading Integrated Resort property portfolio position us exceedingly well to deliver future growth as travel restrictions subside and the recovery in travel and tourism progresses.

“We are fortunate that our financial strength supports our investment and capital expenditure programmes in both Macao and Singapore, as well as our pursuit of growth opportunities in new markets.”


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