Asian investments drive strong second quarter for Sands
Las Vegas Sands reported strong Q2 financial results on Wednesday with investments in Asia pushing the company past the $3bn mark in revenue.
The hotel and casino operator reported $3.14bn in net revenue, which represents an 18.6% increase from the $2.63 revenue in the same quarter a year ago.
Net income for Q2 2017 was up 61.9% to $638m from £394m in the prior-year period.
Las Vegas Sands’ strong Q2 postings were based largely on results from its properties outside of Las Vegas. On Wednesday, CEO Sheldon Adelson said he was very happy with the results from the second quarter, and that the company’s properties in Macau saw strong mass gaming revenue growth.
“I remain as confident as I have ever been in our company’s prospects. Macau’s growth rate has been accelerating now for four consecutive quarters,” he said.
In addition to the Venetian and Palazzo on the Las Vegas Strip and the Sands Bethlehem, Sands owns and operates six integrated resorts (IR) in Asia: five in Macau and one in Singapore.
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