Latest news with #VenetianMacao
Days of Palestine
5 days ago
- Business
- Days of Palestine
Finest A real income Us Web based casinos to possess January 2025
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Yahoo
23-04-2025
- Business
- Yahoo
Las Vegas Sands beats quarterly profit estimates on strong Singapore business
(Reuters) - Casino operator Las Vegas Sands surpassed analysts' expectations for first-quarter profit on Wednesday, as strong demand from its Singapore business offsets stalling market growth in Macao. The company says market growth in Macao has softened in the current environment, as revenue from its Macao operations fell to $1.71 billion in the quarter, from $1.81 billion a year earlier. The company's Singapore operations, however, increased in revenue to $1.16 billion from $1.15 billion previously. "Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia expands," CEO Robert Goldstein said. The Las Vegas, Nevada-based company has been seeing slowing growth in its integrated resorts and casino business from its Macao properties since its previous quarters, including the Venetian Macao, which has historically been a major contributor to its net revenue. Las Vegas Sands operates integrated resorts and casino business, such as Marina Bay Sands in Singapore, and six properties in Macao. The company reported an adjusted profit of 59 cents per share for the quarter ended March 31. Analysts on average were expecting 57 cents per share, according to data compiled by LSEG. Total revenue for the quarter was $2.86 billion, below the analysts' average estimate of $2.89 billion.
Reuters
29-01-2025
- Business
- Reuters
Las Vegas Sands misses profit estimates on weakness in Macao business
Jan 29 (Reuters) - Casino operator Las Vegas Sands (LVS.N), opens new tab missed analysts' estimates for fourth-quarter profit on Wednesday, hurt by tepid performance of its Macao business. The Las Vegas, Nevada-based company had previously flagged that it was seeing slowing growth in its integrated resorts and casino business at Macao properties, including the Venetian Macao, which contribute a major part to the company's net revenue. "In Macao, the ongoing recovery continued during the quarter, although spend per visitor in the market remains below the levels reached prior to the pandemic," said CEO Robert Goldstein. Las Vegas Sands posted an adjusted profit of 54 cents per share for the quarter ended Dec. 31. Analysts on average expected 58 cents per share, according to data compiled by LSEG. Revenue from Macao operations fell about 5% to $1.86 billion. The company's total revenue fell marginally to about $2.9 billion, but was above analysts' estimate of $2.87 billion.
