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Las Vegas Sands reports 1 05bn in net revenue for Q2 2022

Las Vegas Sands has reported net revenue of $1.05bn for the second quarter of 2022, an 11% decline from the prior-year period.

Casino represented $709m of total revenue for Q2 2022, compared to $843m in Q2 2021.

Operating loss for the period was $147m, compared to $139m for the second quarter of 2021, while net loss from continuing operations was $414m, compared to $280m in the prior-year period. Consolidated adjusted property EBITDA for the second quarter of 2022 was $209m, compared to $244m in the prior-year quarter.

“We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are eventually able to travel to both Singapore and Macau,” said Las Vegas Sands Chairman and CEO Robert G. Goldstein. “We also remain steadfast in our commitment 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.

“We remain confident in the recovery of travel and tourism spending across our markets. Demand for our offerings from customers who have been able to visit remains robust, while pandemic-related travel restrictions continue to limit visitation and hinder our current financial performance.”

The company’s Macau operations represented $374m of total revenue for the period, compared to $855m for Q2 2021. Marina Bay Sands meanwhile posted an increase in revenue, from $327m in Q2 2021 to $679m in Q2 2022.

Goldstein added: “Our industry-leading investments in our team members, our communities, and our Integrated Resort property portfolio position us exceedingly well to deliver future growth as travel restrictions subside and the recovery comes to fruition. 

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

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