Monday, September 26, 2022

Las Vegas Sands reports 1 01bn in Q4 revenue

Las Vegas Sands Corp. has reported net revenue of $1.01bn for the fourth quarter of 2021, a 0.7% decline from the prior year quarter.

Marina Bay Sands represented $368m of total revenue, followed by The Venetian Macao at $272m. The Plaza Macao and Four Seasons Macao amounted to $140m, with The Londoner Macao amounting to $139m. The Parisian Macao and Sands Macao reached totals of $67m and $25m respectively.

Operating loss was $138m and net loss was $315m, compared to $119m and $303m respectively in the prior year quarter. Consolidated adjusted property EBITDA was $251m, compared to $191m in the prior year quarter.

Full year 2021 operating loss meanwhile was $689m, compared to operating loss of $1.39bn in 2020. The operator noted that pandemic-related travel restrictions and reduced visitation continue to impact financial results.

“We remain confident in the eventual recovery in travel and tourism spending across our markets and enthusiastic about the opportunity to welcome more guests back to our properties in 2022 and the years ahead,” said Las Vegas Sands Chairman and CEO Robert G. Goldstein.

“While pandemic-related travel restrictions continue to impact our current financial performance, we again generated positive EBITDA in each of our markets. We remain deeply committed to supporting our team members and to helping those in need in each of our local communities as they recover from the impact of the pandemic.

“Our ongoing investments in our team members, our communities and our market-leading Integrated Resort offerings position us exceedingly well to deliver growth as travel restrictions eventually subside and the recovery comes to fruition. We are fortunate that our financial strength supports our investment and capital expenditure programs in both Macao and Singapore, as well as our pursuit of growth opportunities in new markets.”

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