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NEWS 18 April 2019

Las Vegas Sands CEO praises international efforts in Q1 results

By Matthew Enderby

Operator Las Vegas Sands has announced consolidated net revenue of $3.65bn for the first quarter of 2019, an increase of 2% year-on-year.  

Net income reduced by 54% for the period to $744m, with adjusted earnings per diluted share of $0.91 and consolidated adjusted property EBITDA of $1.45bn.

Adjusted net income attributable to Las Vegas Sands was $708m, a 13% decrease.

Meanwhile, Sands China reported a total net revenue rise of 8% to $2.33bn in the first quarter of the year.

Chaiman and CEO of Las Vegas Sands, Sheldon Adelson, said: "Our Integrated Resort property portfolio in Macau delivered revenue growth of 14% in the high-margin mass gaming table segment and adjusted property EBITDA of $858 million. 

"At Marina Bay Sands in Singapore, our hotel, retail, convention and mass gaming segments all exhibited strength, contributing to $423 million of adjusted property EBITDA for the quarter."

RELATED TAGS: Land-Based | Casino | Financial
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