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Las Vegas Sands posts 11% Q4 revenue increase

Las Vegas Sands (LVS) has reported net revenue of $1.12bn for the fourth quarter of 2022, an 11% increase from the prior-year period.

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Revenue for The Venetian Macao represented $201m of that total, with The Londoner Macao and The Parisian Macao reporting totals of $93m and $51m.

The Plaza Macao and Four Seasons Macao Q4 revenue was $75m, with Sands Macao revenue of $17m and Ferry Operations and Other revenue of $7m, meaning LVS’ revenue for its Macao Operations stood at $444m. Marina Bay Sands revenue, meanwhile, was $682m.

Operating loss was $166m in Q4 2022 compared to $138m in Q4 2021, while net loss from continuing operations was $269m in Q4 2022, compared to $315m in Q4 2021. Adjusted property EBITDA amounted to $222m for the period, down 12% from the fourth quarter of 2021.

Commenting on the fourth quarter results, LVS Chairman and CEO Robert G. Goldstein said: “While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, we remain confident in a robust recovery in travel and tourism spending across our markets and deeply enthusiastic about the opportunity to welcome more guests back to our properties throughout 2023 and in the years ahead.”

LVS also reported its full year 2022 results, with an operating loss of $792m compared to $689m in 2021. Net income was $1.83bn in 2022, which included a $3.60bn gain from the sale of the group’s Las Vegas real property and operations, compared to a net loss of $961m in 2021.

In December 2022, Sands China was one of the six current concession holders in Macao to have formally been awarded a new 10-year licence, which took effect on 1 January 20213.

Goldstein added: “Looking ahead, our industry-leading investments in our team members, our communities and our market-leading Integrated Resort offerings position us exceedingly well to deliver growth as travel restrictions are further relaxed and the recovery comes to fruition.

“We are fortunate that our financial strength supports our ongoing 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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