Las Vegas Sands reports $1 billion in third-quarter revenue

Las Vegas Sands reported revenue of $1 billion for the third quarter of 2022, up from $857 million in the same period a year earlier, representing an increase of 18%.

Operating loss for the third quarter of this year was $177 million, compared to $316 million in the year-ago quarter, while net loss from continuing operations was $380 million, up from $594 million at the same time. period of 2021.

Adjusted property EBITDA (earnings before interest, taxes, depreciation and amortization) grew from $47 million in Q3 2021 to $191 million in Q3 this year, up 306%.

Sands China’s total net revenue was down 59% from $611 million in Q3 2021 to $251 million in Q3 2022, while net loss for Q3 2022 was $472 million compared to to $423 million in the third quarter of last year.

CEO remains confident in Las Vegas Sands performance

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

“We remain excited about the opportunity to welcome more guests back to our properties as greater volumes of visitors can travel to Singapore and Macau. We remain confident in the recovery of travel and tourism spending in our markets. Customer demand remains robust.”

Venetian Macau led Macau operations with revenue of US$104 million, followed by The Londoner Macau and The Plaza Macau and Four Seasons Macau, each with revenue of US$57 million. Parisian Macau and Sands Macau reported totals of US$21 million and US$11 million, respectively, with revenue for Ferry Operations totaling US$8 million. Marina Bay Sands reported revenue of $756 million.

Goldstein added: “Our investments in our team members, our communities and our portfolio of industry-leading integrated resort properties position us very well to deliver future growth as travel restrictions ease and the travel and tourism recovery progresses. ”.

“We are fortunate that our financial strength supports our investment programs and capital expenditures in Macau and Singapore, as well as our pursuit of growth opportunities in new markets,” he concluded.